share_log

S-1: General form for registration of securities under the Securities Act of 1933

SEC ·  May 13 17:34
Summary by Moomoo AI
Jet.AI Inc., a Delaware corporation, completed a business combination with Oxbridge Acquisition Corp. and Jet Token Inc. on August 10, 2023. The transaction was structured as a reverse recapitalization, with Jet Token treated as the acquirer. Following the merger, Jet.AI became a publicly traded company on Nasdaq under the ticker 'JTAI', with its warrants listed under 'JTAIW' and 'JTAIZ'. The company, through its subsidiaries, is engaged in selling fractional and whole aircraft interests, jet cards, operating a booking platform for private jet travel, and offering aircraft management services. The business combination was supported by various financing arrangements, including a Share Purchase Agreement with GEM Yield LLC SCS and GEM Yield Bahamas Limited, and a Forward Purchase Agreement with Meteora Capital...Show More
Jet.AI Inc., a Delaware corporation, completed a business combination with Oxbridge Acquisition Corp. and Jet Token Inc. on August 10, 2023. The transaction was structured as a reverse recapitalization, with Jet Token treated as the acquirer. Following the merger, Jet.AI became a publicly traded company on Nasdaq under the ticker 'JTAI', with its warrants listed under 'JTAIW' and 'JTAIZ'. The company, through its subsidiaries, is engaged in selling fractional and whole aircraft interests, jet cards, operating a booking platform for private jet travel, and offering aircraft management services. The business combination was supported by various financing arrangements, including a Share Purchase Agreement with GEM Yield LLC SCS and GEM Yield Bahamas Limited, and a Forward Purchase Agreement with Meteora Capital Partners, LP, Meteora Select Trading Opportunities Master, LP, and Meteora Strategic Capital, LLC. Jet.AI also entered into settlement agreements with Maxim Group LLC and OAC Sponsor Ltd. to issue equity in satisfaction of payment obligations. The company's financial statements for the year ended December 31, 2023, indicate a net loss and raise substantial doubt about its ability to continue as a going concern. Jet.AI plans to fund future operations through revenue from operations, drawdowns under existing financing arrangements, and potential additional capital raising.

This announcement is a separate document:

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