Jet.AI Inc., a Delaware corporation, has announced an issuer tender offer subject to Rule 13e-4, as detailed in an Amendment No. 1 to the Tender Offer Statement on Schedule TO filed with the SEC on June 27, 2024. The offer pertains to the exchange of certain outstanding warrants for shares of common stock. The company is offering holders of its warrants the opportunity to receive a specified number of common shares in exchange for each warrant tendered, based on a fixed exchange ratio. Concurrently, Jet.AI is soliciting consents to amend the Redeemable Warrant Agreement and the Merger Consideration Warrant Agreement, which would allow the company to exchange each outstanding warrant for 10% fewer common shares than the number initially determined by the exchange...Show More

Jet.AI Inc., a Delaware corporation, has announced an issuer tender offer subject to Rule 13e-4, as detailed in an Amendment No. 1 to the Tender Offer Statement on Schedule TO filed with the SEC on June 27, 2024. The offer pertains to the exchange of certain outstanding warrants for shares of common stock. The company is offering holders of its warrants the opportunity to receive a specified number of common shares in exchange for each warrant tendered, based on a fixed exchange ratio. Concurrently, Jet.AI is soliciting consents to amend the Redeemable Warrant Agreement and the Merger Consideration Warrant Agreement, which would allow the company to exchange each outstanding warrant for 10% fewer common shares than the number initially determined by the exchange ratio upon the closing of the offer. The amendments to the warrant agreements require the consent of a majority of the outstanding warrants for the Redeemable Warrants and 65% for the Merger Consideration Warrants. The offer and consent solicitation are detailed in the Prospectus/Offer to Exchange filed with the SEC on July 10, 2024, and the related Letter of Transmittal. As of June 26, 2024, there are 23,052,625 outstanding warrants, with the company offering up to 12,334,621 common shares in exchange for these warrants.