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424B5: Prospectus

SEC ·  Oct 28 06:04

Summary by Moomoo AI

Jet.AI Inc. (Jet.AI), a private air charter company specializing in artificial intelligence technology for private aircraft travel, has announced an Equity Distribution Agreement with Maxim Group LLC (Maxim). Under the agreement, Jet.AI may offer and sell up to $5,400,000 of its common stock through 'at the market' offerings. The sales may occur from time to time directly on the Nasdaq Capital Market or through a market maker. Maxim will act as a sales agent and will use commercially reasonable efforts to sell the shares as requested by Jet.AI. The offering program allows Jet.AI to raise capital flexibly by selling shares in open market transactions at prevailing market prices. This method is typically less dilutive to stockholders...Show More
Jet.AI Inc. (Jet.AI), a private air charter company specializing in artificial intelligence technology for private aircraft travel, has announced an Equity Distribution Agreement with Maxim Group LLC (Maxim). Under the agreement, Jet.AI may offer and sell up to $5,400,000 of its common stock through 'at the market' offerings. The sales may occur from time to time directly on the Nasdaq Capital Market or through a market maker. Maxim will act as a sales agent and will use commercially reasonable efforts to sell the shares as requested by Jet.AI. The offering program allows Jet.AI to raise capital flexibly by selling shares in open market transactions at prevailing market prices. This method is typically less dilutive to stockholders and less expensive than marketed offerings. The offering will terminate upon the earliest of reaching the $5,400,000 sales target, the termination of the agreement by either party, or by October 25, 2025. As of the date of the prospectus supplement, no shares have been sold under the agreement. Maxim will receive a commission of 3% of the gross sales price per share sold. The last reported sale price of Jet.AI's common stock was $0.0812 per share as of October 24, 2024. The company's principal executive offices are located in Las Vegas, Nevada.

This announcement is a separate document:

Doc 1

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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