Jet.AI has consummated its SPAC merger and is now publicly traded on the NASDAQ under JETAI.
Oxbridge Acquisition Corp, a special purpose acquisition company, and its merger partner Jet Token Inc., now known as Jet.AI, have completed their merger.
As a result, the new company is now trading under the JTAI symbol on the NASDAQ.
Oxbridge shareholders approved the deal earlier this week during an extraordinary general meeting.
“We are honored to ring the Nasdaq opening bell on August 11th as we deliver on our commitment to create value for the company’s 32,000 shareholders,” said Jet.AI Chairman Mike Winston.
He added, “I’d like to express my sincere gratitude to our shareholders, employees, customers, and partners on this extraordinary day.”
The company offers a HondaJet fractional and jet card program, a jet card program using the fleet of charter operator Cirrus Aviation Services, and a new booking app CharterGPT.
After opening at $8.20 per share, shares have traded between $5.31 and $9.73.
Filings show Jet.AI had revenues of $21.9 million in 2022, up from $1.1 million in 2021 when it launched.