Jet.AI Signs $320M Merger LOI, Plans Data Center Spin-Off
JTAI is trading near its 52-week low of $5 (5.8% below the low).
Summary
Jet.AI has entered a non-binding letter of intent for a merger with an unnamed private company, valuing the combined entity at approximately $320 million. Jet.AI shareholders would receive about $20 million of that value, representing 5-6% of the pro-forma company. As part of the deal, the company plans to spin off its data center business into a new publicly traded entity, with the ticker DCTR reserved. This follows the recent approval of the flyExclusive merger, signaling an aggressive restructuring strategy. The LOI is non-binding and subject to due diligence, definitive agreements, and regulatory approvals, so execution risk remains. The spin-off could unlock value for the data center assets, but the small stake in the merged company and the company's micro-cap size warrant caution.
At the time of this announcement, JTAI was trading at $4.71 on NASDAQ in the Technology sector, with a market capitalization of approximately $8.1M. The 52-week trading range was $5.00 to $804.00. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.