Jet.AI Inc., a Delaware corporation, has announced a 1-for-225 reverse stock split of its issued and outstanding common stock, effective as of 12:01 a.m. on November 12, 2024. The reverse stock split was approved by the company's stockholders on September 24, 2024, and by the Board on November 4, 2024, to regain compliance with NASDAQ's minimum average bid price requirement. The company's common stock will continue to trade on the NASDAQ under the symbol JTAI, with the new CUSIP number 47714H308. Fractional shares resulting from the split will be rounded up to the nearest whole share, and no cash or other consideration will be paid for fractional shares. The reverse stock split will also proportionally adjust the number of shares and exercise or...Show More

Jet.AI Inc., a Delaware corporation, has announced a 1-for-225 reverse stock split of its issued and outstanding common stock, effective as of 12:01 a.m. on November 12, 2024. The reverse stock split was approved by the company's stockholders on September 24, 2024, and by the Board on November 4, 2024, to regain compliance with NASDAQ's minimum average bid price requirement. The company's common stock will continue to trade on the NASDAQ under the symbol JTAI, with the new CUSIP number 47714H308. Fractional shares resulting from the split will be rounded up to the nearest whole share, and no cash or other consideration will be paid for fractional shares. The reverse stock split will also proportionally adjust the number of shares and exercise or conversion prices of the company's options, warrants, and other convertible securities. Stockholders holding shares in electronic form at brokerage firms will see the effect of the reverse stock split reflected in their accounts automatically. The company has filed the necessary documentation with the Delaware Secretary of State and has issued a press release on November 8, 2024, to announce the reverse stock split and its expected effects.