Corporate ActionJun 12, 2026, 04:28 PM
Jet.AI Adjourns Special Meeting for flyExclusive Merger; Changes SpinCo Record Date
AI Summary
Jet.AI Inc. adjourned its special meeting of stockholders on June 11, 2026, to allow more time for stockholders to vote on the proposed merger with flyExclusive, Inc. and the spinoff of Jet.AI SpinCo, Inc. While approximately 99% of the 486,285 votes cast were in favor, this represented only 34.2% of outstanding shares, falling short of the required majority. The meeting will reconvene on June 23, 2026, and the record date for the SpinCo share distribution has been changed from June 15, 2026, to June 25, 2026.
Key Highlights
- Special Meeting adjourned on June 11, 2026, due to insufficient votes for merger/spinoff approval.
- Meeting reconvened for June 23, 2026, at 4:00 p.m. ET.
- 1,421,721 shares outstanding and entitled to vote as of May 8, 2026 record date.
- 486,285 shares (34.2% of outstanding) represented at the meeting.
- Approximately 99% of votes cast were in favor of the transactions.
- Approval requires affirmative vote of a majority of outstanding shares.
- Record date for SpinCo share distribution changed from June 15, 2026, to June 25, 2026.
- SpinCo shares will convert into flyExclusive Class A common stock upon merger completion.
Price Impact
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