Jet.AI cuts Series B preferred conversion price to lower of $1.63 or 90% VWAP

Jet.AI Inc.

Ionic agrees to refrain from legal action under 2024 SPA in exchange for amended conversion terms.
New conversion price: lower of $1.63 or 90% of lowest daily VWAP (80% if delisted).
Amendment filed with Delaware on Dec 8, 2025; Series B preferred rights otherwise unchanged.
Company also agrees to allow an underwritten public offering up to $10 million.
Conversion measuring period excludes days with trading suspensions or share delivery failures.

item 1.01 item 3.03 item 5.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

Jet.AI Inc. issued preferred stock.

Security: preferred stock

Exact text from the filing

the Company has agreed, among other things, to change the conversion price of Series B convertible preferred stock as set forth in that certain Certificate of Designation for the Series B Convertible Preferred Stock of the Company (the “ Certificate ”) by filing an amendment to the Certificate (the “ Amendment ”) such that shares of Series B convertible preferred stock could convert at a lower price.

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.4

Jet.AI Inc.: Filed an amendment to the certificate of incorporation with the Delaware Secretary of State on December 8, 2025 (effective 2025-12-08).

Change: charter amendment
Effective: 2025-12-08

Exact text from the filing

The Company filed the Amendment with the Delaware Secretary of State on December 8, 2025.

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Jet.AI Inc. filing history →

Source: SEC EDGAR

accession 0001493152-25-026673

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