Jet.AI secures Ionic Ventures' consent for $16M S-1 offering and RD; alters Series B conversion period

Jet.AI Inc.

Ionic Ventures consents to Jet.AI's $16M best-efforts S-1 offering and a separate registered direct offering not qualifying as Variable Rate Transactions.
Jet.AI changes the Conversion Measurement Period for Ionic's 200 Series B Convertible Preferred shares to begin March 28, 2024.
Jet.AI will reimburse Ionic's reasonable costs and fees if either offering is consummated.
Consent is limited to the Proposed Offering and Proposed RD and does not waive other rights under the Securities Purchase Agreement.

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