Jet.AI launches warrant exchange; redeemable get 0.3054 shares, merger get 1.0133 shares

Jet.AI Inc.

Exchange offer for redeemable (JTAIW), merger consideration (JTAIZ), and private placement warrants; expires July 25, 2024.
Redeemable and private placement warrant holders offered 0.3054 common shares per warrant; merger holders offered 1.0133 shares per warrant.
Concurrent consent solicitation to allow forced exchange of untendered warrants at 10% lower ratio (0.2749 for redeemable/private, 0.9120 for merger).
As of June 26: 12.76M shares outstanding, 9.86M redeemable, 7.43M merger, 5.76M private placement warrants.
Purpose: simplify capital structure and reduce dilution; no recommendation from company or board.

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