UPDATED: Jet.AI Inc. Announces Reverse Stock Split
2024年11月12日 - 4:47AM
Jet.AI Inc. (
Nasdaq: JTAI) (the “Company”), today
announced that the Company has determined to effect a reverse stock
split of its outstanding shares of common stock at a ratio of
1-for-225. The reverse stock split is expected to take effect
before markets open on Tuesday, November 12, 2024. The Company’s
common stock will continue to be traded on the Nasdaq Capital
Market under the symbol JTAI and will begin trading on a
split-adjusted basis when the market opens on Tuesday, November 12,
2024. The new CUSIP number for the Company’s common stock following
the reverse stock split will be 47714H308.
The reverse stock split is intended to enable
the Company to achieve several important corporate objectives,
including enabling the Company to regain compliance with the
minimum bid price requirement under Nasdaq’s continued listing
criteria and making additional shares of common stock available for
future issuance.
At the effective time of the reverse stock
split, every 225 shares of the Company’s issued and outstanding
common stock will be converted automatically into one issued and
outstanding share of common stock without any change in the par
value per share. Stockholders holding shares through a brokerage
account will have their shares automatically adjusted to reflect
the 1-for-225 reverse stock split. The reverse split will not
result in any change in the par value per share or the total number
of authorized shares of common stock.
The reverse stock split will affect all
stockholders uniformly and will not alter any stockholder’s
percentage interest in the Company’s equity, except to the extent
that the reverse stock split would result in a stockholder owning a
fractional share. No fractional shares will be issued in connection
with the reverse stock split. Stockholders of record otherwise
entitled to receive a fractional shares as a result of the reverse
stock split will receive a cash payment in lieu of such fractional
share. Proportional adjustments will be made to the number of
shares of the Company’s common stock issuable upon exercise or
conversion of the Company’s equity awards, convertible preferred
stock and warrants, as well as the applicable exercise or
conversion price. Stockholders with shares in brokerage accounts
should direct any questions concerning the reverse stock split to
their broker; all other stockholders may direct questions to the
Company’s transfer agent, Continental Stock Transfer &
Trust.
About Jet.AI
Jet.AI operates in two segments, Software and
Aviation, respectively. The Software segment features the B2C
CharterGPT app and the B2B Jet.AI Operator platform. The CharterGPT
app uses natural language processing and machine learning to
improve the private jet booking experience. The Jet.AI operator
platform offers a suite of stand-alone software products to enable
FAA Part 135 charter providers to add revenue, maximize efficiency,
and reduce environmental impact. The Aviation segment features jet
aircraft share ownership, jet card, on-fleet charter, management,
and buyer’s brokerage. Jet.AI is an official partner of the Las
Vegas Golden Knights, 2023 NHL Stanley Cup® champions. The Company
was founded in 2018 and is based in Las Vegas, NV and San
Francisco, CA.
Forward-Looking Statements
This press release contains certain statements
that may be deemed to be “forward-looking statements” within the
federal securities laws, including the safe harbor provisions under
the Private Securities Litigation Reform Act of 1995. Statements
that are not historical are forward- looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Forward-looking
statements relate to future events or our future performance or
future financial condition. These forward-looking statements are
not historical facts, but rather are based on current expectations,
estimates and projections about our Company, our industry, our
beliefs and our assumptions. Such forward-looking statements
include, but are not limited to, statements regarding our or our
management team’s expectations, hopes, beliefs, intentions or
strategies regarding the future. In addition, any statements that
refer to projections, forecasts or other characterizations of
future events or circumstances, including any underlying
assumptions, are forward-looking statements. In some cases, you can
identify forward-looking statements by the following words:
“anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,”
“intend,” “may,” “ongoing,” “plan,” “potential,” “predict,”
“project,” “should,” or the negative of these terms or other
similar expressions, but the absence of these words does not mean
that a statement is not forward-looking. Forward-looking statements
are subject to a number of risks and uncertainties (some of which
are beyond our control) that may cause actual results or
performance to be materially different from those expressed or
implied by such forward-looking statements. Accordingly, readers
should not place undue reliance on any forward-looking statements.
These risks include risks relating to agreements with third
parties; our ability to raise funding in the future, as needed, and
the terms of such funding, including potential dilution caused
thereby; our ability to continue as a going concern; our ability to
maintain the listing of our common stock on Nasdaq; claims relating
to alleged violations of intellectual property rights of others;
the outcome of any current legal proceedings or future legal
proceedings that may be instituted against us; unanticipated
difficulties or expenditures relating to our business plan; and
those risks detailed in the Company’s most recent Annual Report on
Form 10-K and subsequent reports filed with the Securities and
Exchange Commission.
Forward-looking statements speak only as of the
date they are made. The Company undertakes no obligation to update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise that occur after that
date, except as otherwise provided by law.
Investor Contact:
Gateway Group, Inc.949-574-3860Jet.AI@gateway-grp.com
Jet AI (NASDAQ:JTAI)
過去 株価チャート
から 11 2024 まで 12 2024
Jet AI (NASDAQ:JTAI)
過去 株価チャート
から 12 2023 まで 12 2024