MergerJun 5, 2026, 08:31 AM
Jet.AI Sets Record Date for SpinCo Distribution Ahead of flyExclusive Merger
AI Summary
Jet.AI Inc. announced that its Board of Directors has declared a distribution of shares of Jet.AI SpinCo, Inc. and set June 15, 2026, as the record date for stockholders to participate. This distribution is in connection with the proposed merger with flyExclusive, Inc., where SpinCo shares will convert into flyExclusive Class A common stock. Stockholders will also retain their existing Jet.AI shares, providing exposure to both AI infrastructure and private aviation businesses. The company encourages a "FOR" vote at the virtual Special Meeting on June 11, 2026, a recommendation supported by Glass Lewis.
Key Highlights
- Board declared distribution of Jet.AI SpinCo, Inc. shares.
- Record date for determining stockholders entitled to distribution is June 15, 2026.
- SpinCo shares will convert into flyExclusive Class A common stock upon merger completion.
- Stockholders will retain 100% of their existing Jet.AI shares.
- Special Meeting of Stockholders to approve merger is scheduled for June 11, 2026.
- Record date for voting at the Special Meeting was May 8, 2026.
- Glass Lewis recommends Jet.AI stockholders vote "FOR" the proposed transaction.
Price Impact
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