Core Viewpoint - Jet.AI Inc. has entered into a securities purchase agreement to sell approximately 15.6 million shares of common stock at a price of $0.096 per share, aiming to raise about $1.5 million in gross proceeds before expenses [1]. Group 1: Securities Offering - The offering is part of a registered direct offering and is expected to close around October 21, 2024, pending customary closing conditions [1]. - Maxim Group LLC is acting as the exclusive placement agent for this offering [1]. - The shares are being offered under a shelf registration statement on Form S-3, which was declared effective by the SEC on September 9, 2024 [2]. Group 2: Company Overview - Jet.AI operates in two segments: Software and Aviation [3]. - The Software segment includes the B2C CharterGPT app and the B2B Jet.AI Operator platform, utilizing natural language processing and machine learning to enhance the private jet booking experience [3]. - The Aviation segment offers services such as jet aircraft fractions, jet cards, on-fleet charter, management, and buyer's brokerage [3]. - Jet.AI is an official partner of the Las Vegas Golden Knights, the 2023 NHL Stanley Cup champions [3]. - The company was founded in 2018 and is based in Las Vegas, Nevada, and San Francisco, California [3].
Jet.AI Announces Pricing of $1.5 Million Registered Direct Offering