secwatch.observer — SEC 8-K summary
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Issuer:     Jet.AI Inc. (JTAI)
CIK:        0001861622
Form:       8-K
Filed at:   2024-09-25T23:59:59+00:00
Accession:  0001493152-24-038056
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 3.02, 3.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Jet.AI issues 50 Series B preferred shares to Ionic Ventures to waive potential SPA claims
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- Issued 50 Series B Convertible Preferred shares to Ionic Ventures in exchange for waiver of rights under March 2024 SPA.
- Ionic agreed not to take action regarding Maxim settlement, warrant exchange, SHC settlement, S-3 filing, and S-1 offering.
- Company granted Ionic a release from all claims related to the waived actions.
- Series B shares issued in unregistered transaction under Section 4(a)(2) and Rule 506(b).
- Company to file Form 8-K by Sep 25, 2024 disclosing issuance and waiver terms.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1861622/000149315224038056/0001493152-24-038056-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1861622/000149315224038056/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-038056

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