Jet.AI announces 1-for-225 reverse stock split effective Nov 12 to regain Nasdaq compliance

Jet.AI Inc.

Reverse stock split at 1-for-225, effective before market open Nov 12, 2024; fractional shares paid in cash.
Purpose: to regain compliance with Nasdaq minimum bid price requirement and free up shares for future issuance.
Common stock continues trading on Nasdaq under JTAI; new CUSIP 47714H308.
No change in authorized shares or par value; proportional adjustments to equity awards and warrants.
Press release issued Nov 11, 2024, correcting prior filing regarding fractional share treatment.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Jet.AI Inc.: Filed a Certificate of Correction to the Certificate of Amendment to provide that fractional shares resulting from the reverse stock split will be paid in cash instead of being issued (effective 2024-11-12).

Change: charter amendment
Effective: 2024-11-12

Exact text from the filing

The Company filed with the Secretary of State of the State of Delaware the Certificate of Correction stating that fractional shares that would otherwise result from the Reverse Stock Split will receive a cash payment in lieu of such fractional share. The effective date and time of the Certificate of Amendment will remain 12:01 a.m. on November 12, 2024.

View on SEC.gov

13 governance changes filed in the last 30 days. Browse all governance changes →

Jet.AI Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-044535

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

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.