Jet.AI Inc. (JTAI) stock is seeing a significant rise today after the company announced a $2 million share repurchase program and withdrew its S-1 registration for a prospective offering. The buyback program aims to capitalize on undervalued share prices, while the S-1 withdrawal reflects the company’s focus on meeting Nasdaq listing requirements.
The Nasdaq Composite dipped slightly on Wednesday, but several stocks surged on positive earnings reports and optimistic outlooks. Paymentus Holdings led the charge, jumping 23.8% after exceeding third-quarter expectations and raising its full-year revenue guidance. Other notable gainers included Jet.AI, Dave Inc., and Rocket Lab USA, highlighting strong performance across various sectors.
Jet.AI Inc. (JTAI) shares plummeted on Thursday following the announcement of a direct offering of 26.6 million shares to institutional investors. The offering, priced at $0.09 per share, is expected to bring in $2.4 million for the company. The news sparked heavy trading volume and sent the stock price tumbling.
Jet.AI, a private aviation and artificial intelligence firm, has announced an exchange offer and consent solicitation to simplify its capital structure and mitigate potential dilution. The company is offering to exchange outstanding warrants for shares of common stock at specific ratios, and seeking consent from warrant holders to amend governing agreements, potentially reducing the exchange ratio by 10%.
