Jet.AI Inc. (JTAI) experienced a sharp decline in its share price on Thursday after revealing plans for a direct offering of 26.6 million shares to institutional investors. The company announced the offering would be priced at $0.09 per share, generating an estimated $2.4 million in gross proceeds before accounting for offering expenses. This offering is expected to close on or around October 11th.
Jet.AI shares initially climbed to an intraday high of 25 cents, only to reverse course and head south when the direct offering was announced. The stock traded heavily, with over 805 million shares changing hands during Thursday’s session, according to data from Benzinga Pro.
If you’re interested in gaining exposure to Jet.AI stock, there are a few ways to do so. You can purchase shares (or fractional shares) through a brokerage platform. Alternatively, you could invest in an exchange traded fund (ETF) that holds Jet.AI shares. ETFs offer diversified exposure to a sector or market by holding shares in multiple companies. Since Jet.AI falls under the Industrials sector, an ETF tracking that sector would be a suitable option.
Following the announcement, Jet.AI shares were up 8.57% in after-hours trading at 8 cents, after dropping 11.77% during regular trading on Thursday.
