Jet.AI amends preferred stock conversion price to VWAP, caps conversion at 19.99% until shareholder vote

Jet.AI Inc.

Jet.AI and Maxim Group entered Amendment No. 1 to Settlement Agreement on July 15, 2024.
Series A Conversion Price changed to 100% of 5-day VWAP preceding conversion, with dilutive-issuance adjustments.
Conversion is limited to 19.99% of outstanding common shares until Nasdaq-compliant shareholder approval is obtained.
Amendment also modifies leak-out restrictions on shares Maxim may acquire upon conversion.
Amended Certificate of Designation filed with Delaware Secretary of State on July 15, 2024.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.