secwatch.observer — SEC 8-K summary
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Issuer:     Jet.AI Inc. (JTAI)
CIK:        0001861622
Form:       8-K
Filed at:   2025-12-08T23:59:59+00:00
Accession:  0001493152-25-026673
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1861622/000149315225026673/0001493152-25-026673-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1861622/000149315225026673/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-026673

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer