Announcement • Apr 07
Jet Inc Announces Reverse Stock Split Intended to Maintain Compliance with the Minimum Bid Price Requirement Under Nasdaq's Continued Listing Criteria Jet Inc. announced that it has determined to effect a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-200. The reverse stock split is expected to take effect before markets open on April 8, 2026. The Company's common stock will continue to be traded on the Nasdaq Capital Market and will begin trading on a split-adjusted basis when the market opens on April 8, 2026. The reverse stock split is intended to enable the Company to achieve several important corporate objectives, including enabling the Company to maintain compliance with the minimum bid price requirement under Nasdaq's continued listing criteria and making additional shares of common stock available for future issuance. Announcement • Feb 13
Jet.AI Inc. Receives Letter from the Listing Qualifications Department of the Nasdaq On February 6, 2026, Jet.AI Inc. (“Jet.AI” or the “Company”) received a letter from the Listing Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it is not in compliance with Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Requirement”), as the minimum bid price of the Company’s common stock has been below $1.00 per share for 30 consecutive business days. The notification of noncompliance has no immediate effect on the listing or trading of the Company’s common stock. The Company has 180 calendar days, or until August 5, 2026 (the “Initial Compliance Period”), to regain compliance with the Minimum Bid Price Requirement. To regain compliance, the minimum bid price of the Company’s common stock must meet or exceed $1.00 per share for a minimum of ten consecutive business days during the Initial Compliance Period. In the event the Company does not regain compliance with the Minimum Bid Price Requirement during the Initial Compliance Period, the Company may be eligible for an additional 180-calendar day compliance period (the “Additional Compliance Period”) if, at that time, the Company meets the continued listing requirement for the market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the bid price requirement. Additionally, the Company would need to provide written notice of its intention to cure the deficiency during the Additional Compliance Period, including by effecting a reverse stock split, if necessary. The Company’s failure to regain compliance during the Initial Compliance Period or the Additional Compliance Period, if applicable, could result in delisting. The Company intends to actively monitor the bid price of its common stock and may, if appropriate, consider implementing available options to regain compliance with the Minimum Bid Price Requirement, including the possibility of effecting a reverse stock split at a ratio within the range previously approved by the Company’s stockholders at its 2025 annual meeting. Although the Company believes it will be able to timely regain compliance with the Minimum Bid Price Requirement, there can be no assurance that the Company will be able to regain compliance with the Minimum Bid Price Requirement, satisfy the requirements necessary for eligibility for an Additional Compliance Period, or maintain compliance with any other listing requirements. Announcement • Oct 25
Jet.AI Receives Letter from Nasdaq Regarding Non-Compliance with the Minimum Bid Price Requirement As previously disclosed, Jet.AI Inc. (the ‘Company’) received a letter on April 14, 2024, from the Nasdaq Listing Qualifications Department (‘Nasdaq’) notifying the Company that the Company was not in compliance with Nasdaq Listing Rule 5450(a)(1), as the minimum bid price of the Company’s common stock had been below $1.00 per share for 30 consecutive business days (the ‘Minimum Bid Price Requirement’). According to that notice, the Company had 180 calendar days, or until October 14, 2024, to regain compliance with the Minimum Bid Price Requirement. To regain compliance, the minimum bid price of the Company’s Common Stock must meet or exceed $1.00 per share for a minimum of ten consecutive business days during this 180-calendar day grace period. On October 18, 2024, the Company received a letter from Nasdaq, notifying the Company that it had not regained compliance with the Minimum Bid Price Requirement. The October 18, 2024 notification has no immediate effect on the listing or trading of the Company’s Common Stock on The Nasdaq Capital Market. The Panel previously granted the Company until November 26, 2024, to implement the compliance plan the Company presented to Nasdaq and regain compliance with all Nasdaq listing criteria, including the Minimum Bid Price Requirement. The Company believes it will be able to regain compliance with the Minimum Bid Price Requirement on or before November 26, 2024. At the Company’s annual meeting of stockholders held on September 24, 2024, the Company’s stockholders approved a proposal that granted the Company’s Board of Directors the discretion to amend the Company’s Certificate of Incorporation to effect a reverse stock split of the Company’s issued and outstanding shares of Common Stock at a ratio not less than one-for-two and not greater than one-for-one thousand, with the exact ratio to be set within that range at the discretion of the Company’s Board of Directors without further approval or authorization of the Company’s stockholders. In addition, the Company has effected certain transactions, in part, to execute on other components of its plan to regain compliance with Nasdaq continued listing criteria, including closing upon offerings of the Company’s Common Stock on each of October 11, 2024 and October 21, 2024. The Company believes it will be able to timely regain compliance with Nasdaq’s continued listing requirements, including the Minimum Bid Price Requirement. However, there can be no assurance that the Company will be able to regain compliance with the Minimum Bid Requirement or will otherwise be able to regain, and then maintain, compliance with other Nasdaq listing criteria. Announcement • Jun 02
Jet.AI Inc. Provides Non-Compliance Update As previously disclosed, On December 1, 2023, Jet.AI Inc. (the Company") received a letter from the Nasdaq Listing Qualifications Department (Nasdaq") notifying the Company that its amount of stockholders' equity fell below the $10 million required minimum for continued listing on The Nasdaq Global Market set forth in Nasdaq Listing Rule 5450(b)(1)(A) (the Listing Rule"). The Company timely submitted a compliance plan to Nasdaq and Nasdaq granted the Company an extension through May 29, 2024 to evidence completion of its plan. On May 30, 2024, the Company received a notice (the Notice") from Nasdaq indicating that the Company has not regained compliance with the minimum stockholders' equity requirement for continued listing under the Listing Rule. Management has completed an application to transfer to The Nasdaq Capital Market tier and filed both a registration statement and preliminary proxy statement in connection with the previously announced $16.5 million private placement transaction with Ionic Ventures LLC. Through the recent application to transfer to The Nasdaq Capital Market tier and the Ionic Ventures LLC private placement transaction, the Company expects to meet the Equity Standard of the Continued Listing Requirements of The Nasdaq Capital Market tier, which requires listed companies to maintain minimum stockholders' equity of $2.5 million. The Company has been actively executing its compliance plan, including utilizing its existing GEM facility, and the receipt of $1.5 million of the $16.5 million funding under the Ionic Ventures LLC private placement. The Notice indicates that, unless the Company requests an appeal hearing before the Nasdaq Hearings Panel (the Panel") by June 6, 2024, trading of the Company's common stock will be suspended at the opening of business on June 10, 2024, and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the Company's securities from listing and registration on The Nasdaq Stock Market. The Company intends to timely request a hearing before the Panel and pay the applicable $20,000 fee to appeal the Notice. The Notice has no immediate effect on the listing or trading of the Company's common stock. The Company's hearing request will stay the suspension of trading on the Company's securities, and the Company's securities will continue to trade on The Nasdaq Global Market until the hearing process concludes and the Panel issues a written decision. While the Company can provide no assurances that the Panel will grant the Company's request for a suspension of delisting or continued listing on The Nasdaq Global Market after the hearing process concludes, the Company is working diligently and plans to regain compliance with the Listing Rule as soon as practicable. Should the Company regain compliance and receive a moot notice from Nasdaq in advance of the hearing before the Panel, then no hearing would take place.