Jet.AI Signs $300M Reverse Takeover LOI, Holders to Get $10/Share
JTAI has more than doubled off its 52-week low of $0.333 on elevated volume (4.5× avg).
Summary
Jet.AI has signed a non-binding letter of intent for a new $300 million reverse takeover, with shareholders receiving $10 per share in stock and cash — more than double the current $4.88 price. This is a separate deal from the previously approved flyExclusive merger, which closed on July 2. As a condition of the transaction, Jet.AI would spin off its data center joint venture and beneficial ownership interest in AI Infrastructure Acquisition Corp into a newly formed, independent public company, with shares distributed to existing Jet.AI holders through an SEC-registered distribution. Following completion, Jet.AI holders would hold interests in two separate publicly traded companies. The $10 per share consideration implies a significant premium and suggests strong acquirer interest in Jet.AI's remaining assets or platform. With a market cap of only $6.9 million, the $300 million deal size represents a transformative transaction, though the LOI is non-binding and execution risk remains.
At the time of this announcement, JTAI was trading at $4.88 on NASDAQ in the Technology sector, with a market capitalization of approximately $6.9M. The 52-week trading range was $0.33 to $76.22. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.