Jet.AI receives Nasdaq delisting notice for failing $10M equity requirement; plans appeal and transfer to Capital Market

Jet.AI Inc.

Nasdaq notified Jet.AI on May 30, 2024 that it failed to regain compliance with $10M minimum stockholders' equity for Global Market.
Company plans to transfer to Nasdaq Capital Market (requires $2.5M equity) and has a $16.5M private placement with Ionic Ventures; $1.5M already received.
Unless an appeal is requested by June 6, 2024, trading will be suspended on June 10, 2024; company intends to request a hearing and pay $20,000 fee.
Hearing request will stay suspension; securities (JTAI, JTAIW, JTAIZ) continue trading until panel decision.
No assurance of regaining compliance; company is executing compliance plan including existing GEM facility.

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