LAS VEGAS, Oct. 18, 2024 (GLOBE NEWSWIRE) — Jet.AI Inc. (“Jet.AI” or the “Company”) (NASDAQ: JTAI), an innovative private aviation and artificial intelligence company, today announced that it has entered into a securities purchase agreement with certain institutional investors to purchase approximately 15.6 million shares of common stock in a registered direct offering at a purchase price of $0.096 per share. The gross proceeds to the Company from the registered direct offering are estimated to be approximately $1.5 million before deducting the placement agent’s fees and other estimated offering expenses payable by the Company. The offering is expected to close on or about October 21, 2024, subject to the satisfaction of customary closing conditions.
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