MergerJul 13, 2026, 05:26 PM
Jet.AI Completes Merger with flyExclusive
AI Summary
Jet.AI Inc. announced the successful closing of its merger transaction with flyExclusive, Inc. following stockholder approval. Prior to the merger, Jet.AI stockholders received shares of Jet.AI SpinCo, Inc. on a pro rata basis. These SpinCo shares then converted into the right to receive an aggregate of 7,096,115 shares of flyExclusive Class A common stock. Approximately 80% of the consideration (5,676,892 shares) was issued immediately, with the remaining 20% (1,957,402 shares) held in reserve pending final purchase price determination within 90 days.
Key Highlights
- Merger transaction with flyExclusive, Inc. successfully closed.
- Jet.AI stockholders received one share of SpinCo common stock for each Jet.AI share.
- SpinCo shares converted into 7,096,115 shares of flyExclusive Class A common stock.
- Aggregate exchange ratio of approximately 3.6253 flyExclusive shares for each SpinCo share.
- 5,676,892 flyExclusive Class A shares (approx. 80% of consideration) issued immediately.
- Remaining 1,957,402 flyExclusive Class A shares (approx. 20%) held in reserve.
- Reserve shares to be issued after final purchase price determination in 90 days.
Price Impact
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