SEC Approval for Merger#
Jet.AI Inc. has announced that the Securities and Exchange Commission (SEC) has approved the registration statement filed by flyExclusive, Inc. for their proposed merger. This marks a significant step forward for both companies as they navigate the merger process.
Stockholder Meeting Scheduled#
A special meeting for stockholders is set for June 11, 2026. Stockholders who are on record as of May 8, 2026, will have the opportunity to vote on the merger. Jet.AI plans to submit its definitive proxy statement to the SEC soon and expects to distribute the necessary materials around May 11, 2026.
Financial Context#
The merger comes at a time when flyExclusive’s stock has seen a decline of 45% over the past six months, currently trading at $2.11 with a market capitalization of $96.62 million. The registration statement on Form S-4 was filed to register shares of flyExclusive’s common stock that will be issued as part of the merger.
Recent Developments#
In recent news, flyExclusive reported its first positive Adjusted EBITDA in the fourth quarter of 2025, indicating a significant financial achievement since going public. This milestone reflects the company’s efforts in modernizing its fleet and restructuring costs. Additionally, flyExclusive has filed a utility patent application for technology aimed at optimizing aircraft schedules, which it plans to offer at no cost to other operators starting in the second quarter of 2026. These developments highlight flyExclusive’s strategic initiatives and commitment to growth.