Jet AI says it has regained compliance with NASDAQ’s minimum stockholders’ equity requirement.
Private aviation flight provider and services company Jet AI believes it has regained compliance with NASDAQ’s minimum stockholders’ equity requirement.
Jet AI had received a notice of potential delisting in December.
The Las Vegas-based company had gone public via a SPAC merger in 2023.
In a prepared statement, Chairman and CEO Mike Winston said, “We appreciate the consideration NASDAQ has shown Jet AI. The company has strong cash ($3.6 million) and book equity ($4 million) positions, with no debt, roughly 840 thousand shares, and good visibility on aircraft deliveries.”
He continued, “Today is an important day for Jet AI in its continued mission to build shareholder value, and we thank all those who have contributed to our return to compliance.”
Recently, the company ordered Citation CJ4 light jets as part of a new fractional program.
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