November 5, 2024
After receiving a non-compliance notice Jet AI is executing a reverse stock split.
Jet AI Inc. said it “had determined to effect a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-225.”
According to the announcement, the reverse stock split is expected to take effect before markets open on Tuesday, November 12, 2024.
The private jet flight provider and technology company will continue to trade on the Nasdaq Capital Market under the symbol JTAI.
When the market opens on Tuesday, November 12, 2024, it will begin trading split-adjusted.
It is intended to enable Jet AI to regain compliance with the minimum bid price requirement under Nasdaq’s continued listing criteria and make additional shares of common stock available for future issuance.
Jet AI said it had ordered Citation CJ4 light jets from Textron Aviation earlier this week.
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