Jet.AI Inc. (JTAI): Nasdaq/NYSE listing notice — Jet.AI receives Nasdaq deficiency notice for bid price below $1.00; 180-day cure period until Oct 14, 2024

Jet.AI Inc.

Received Nasdaq notice on April 15, 2024; must have bid price ≥ $1.00 for 10 consecutive days by Oct 14, 2024.
If not compliant by Oct 14, may transfer to Nasdaq Capital Market for additional 180-day period if eligible.
Also disclosed Placement Agency Agreement with Maxim Group: 7% cash fee on gross proceeds, up to $1,050,000 in future fees.
Paid Maxim $120,000 from March 29 closing; right of first refusal for future offerings until Dec 31, 2024.

item 3.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Jet.AI Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5450(a)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5450(a)(1)

Exact text from the filing

April 15, 2024, Jet.AI, Inc. (the “Company”) received notice (the “Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”) that the Company is not in compliance with Nasdaq Listing Rule 5450(a)(1), as the minimum bid price of the Company’s Class A Common Stock has been below $1.00 per share for 30 consecutive business days (the “Minimum Bid Price Requirement”). The notification of noncompliance has no immediate effect on the listing or trading of the Company’s Common Stock on The Nasdaq Global Market. The Company has 180 calendar days, or until October 14, 2024, to regain compliance with the Mini

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Jet.AI Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-015381

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