Jet.AI announces 1-for-200 reverse stock split

Jet.AI (JTAI) 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 Wednesday, April 8. The Company’s common stock will continue to be traded on the Nasdaq Capital Market under the symbol “JTAI” and will begin trading on a split-adjusted basis when the market opens on Wednesday, April 8. The new CUSIP number for the Company’s common stock following the reverse stock split will be 47714H407. As of April 6, the Company has 129,362,471 shares of common stock issued and outstanding. Following the reverse stock split, the Company expects to have approximately 646,812 shares of common stock issued and outstanding. 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.