Jet.AI closes merger with flyExclusive, completes SpinCo share distribution
JTAI•Reserved shares and adjustments
Another 1,957,402 shares are held in reserve for 90 days, subject to post-closing purchase price adjustments.
Merger consideration and share issuance
Total merger consideration was set at 7,096,115 flyExclusive Class A shares, or about 3.63 shares per SpinCo share.
flyExclusive issued 5,676,892 shares at closing, or about 2.9 shares per SpinCo share, representing roughly 80% of consideration.
Merger completion and SpinCo distribution
Jet.AI completed its merger transaction with flyExclusive, following a SpinCo share distribution to Jet.AI holders of record on July 6, 2026.
Stockholders received one SpinCo share per Jet.AI share on July 13, 2026; those SpinCo shares converted into rights to flyExclusive stock.
