---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-028106"
form_type: "8-K"
ticker: "JTAI"
cik: "0001861622"
company_name: "Jet.AI Inc."
filed_at: "2024-07-17T23:59:59+00:00"
generated_at: "2026-05-31T20:16:55.990315+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-24-028106
- form_type: 8-K
- ticker: JTAI
- cik: 0001861622
- company_name: Jet.AI Inc.
- filed_at: 2024-07-17T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 3.03, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1861622/000149315224028106/0001493152-24-028106-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1861622/000149315224028106/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-028106
- JSON: https://secwatch.observer/filing/0001493152-24-028106.json
- Plain text: https://secwatch.observer/filing/0001493152-24-028106.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.