Jet AI Inc

Jet.AI shareholders approved the merger with flyExclusive at an extraordinary general meeting. The companies expect the transaction to close on or around next Monday, subject to customary closing conditions. flyExclusive is reporting operational progress, including higher revenues and flight hours and positive adjusted EBITDA, but remains heavily indebted and has a low liquidity ratio. » More on de.investing.com

A majority of Jet.AI’s voting shares voted at an extraordinary general meeting in favor of the planned merger with flyExclusive. The votes exceeded the required threshold; the meeting will be resumed on Thursday and the result officially confirmed then. Completion of the transaction is expected on July 7, 2026, subject to final approvals and customary conditions. According to the report, flyExclusive shows weak share price performance, high indebtedness and negative cash flow. » More on de.investing.com

Jet.AI has set 15 June 2026 as the record date for the distribution of shares of the Jet.AI SpinCo; shareholders registered on the record date will receive pro rata all outstanding SpinCo shares immediately prior to the closing of the merger with flyExclusive. After the merger is completed, the distributed SpinCo shares will be converted into rights to flyExclusive class A common shares. The completion of the distribution and the merger is subject to approval by Jet.AI shareholders and other customary closing conditions; Glass, Lewis recommends approval. According to data, Jet.AI has a strong liquidity position, and the stock last traded at $8.40. » More on de.investing.com