Core Viewpoint - Jet.AI Inc. has announced a reverse stock split at a ratio of 1-for-225, effective before market opening on November 12, 2024, to comply with Nasdaq listing requirements and to facilitate future share issuance [1][2]. Group 1: Reverse Stock Split Details - The reverse stock split will convert every 225 shares of common stock into one share, maintaining the par value per share [3]. - Stockholders will see their shares automatically adjusted in brokerage accounts, and no fractional shares will be issued; instead, cash payments will be provided for any fractional shares [4]. - The reverse stock split will not change stockholders' percentage interest in the company's equity, except for fractional shares [4]. Group 2: Company Overview - Jet.AI operates in two segments: Software and Aviation, with offerings including the CharterGPT app and a suite of software products for charter providers [5]. - The company was founded in 2018 and is based in Las Vegas, NV, and San Francisco, CA, and is an official partner of the Las Vegas Golden Knights [5].
UPDATED: Jet.AI Inc. Announces Reverse Stock Split