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S-3: Registration statement for specified transactions by certain issuers

SEC ·  Nov 13 17:12

Summary by Moomoo AI

Jet.AI Inc., a Delaware-based company, filed a Form S-3 registration statement with the Securities and Exchange Commission (SEC) on November 13, 2024. The filing pertains to the registration of shares for resale by the selling stockholder, Ionic Ventures, LLC. The shares in question are related to a private placement transaction that closed on March 29, 2024, involving the issuance of Series B Preferred Stock and warrants. The registration statement covers the resale of up to 350,000 shares of common stock, which may be issued upon the conversion of Series B Preferred Stock and exercise of warrants held by Ionic Ventures, LLC. The company will not receive any proceeds from the resale of shares by the selling stockholder, except for potential proceeds from the...Show More
Jet.AI Inc., a Delaware-based company, filed a Form S-3 registration statement with the Securities and Exchange Commission (SEC) on November 13, 2024. The filing pertains to the registration of shares for resale by the selling stockholder, Ionic Ventures, LLC. The shares in question are related to a private placement transaction that closed on March 29, 2024, involving the issuance of Series B Preferred Stock and warrants. The registration statement covers the resale of up to 350,000 shares of common stock, which may be issued upon the conversion of Series B Preferred Stock and exercise of warrants held by Ionic Ventures, LLC. The company will not receive any proceeds from the resale of shares by the selling stockholder, except for potential proceeds from the exercise of warrants, which could total approximately $15 million if fully exercised. As of the filing date, Ionic Ventures, LLC had partially exercised the warrants for 150 shares of Series B Preferred Stock, resulting in $1.5 million in proceeds for Jet.AI Inc. The company plans to use any additional proceeds from future warrant exercises for general corporate and working capital purposes. The shares will be sold on the Nasdaq Stock Market where Jet.AI's common stock is traded under the symbol 'JTAI'. The company's stock had a reported sale price of $6.64 per share on Nasdaq as of November 12, 2024.

This announcement is a separate document:

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