Jet.AI (JTAI) announced that the company has determined to effect a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-225. The reverse stock split is expected to take effect before markets open on Tuesday, November 12. 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 Tuesday, November 12. “The reverse stock split is intended to enable the company to achieve several important corporate objectives, including enabling the company to regain compliance with the minimum bid price requirement under Nasdaq’s continued listing criteria and making additional shares of common stock available for future issuance,” the company stated.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on JTAI:
- JetAI Strengthens Position with New Securities Agreement
- ai-aviation-tech" target="_blank" style="color:blue" rel="nofollow noopener">JetAI Launches Share Sale to Advance AI Aviation Tech
- ai-prices-2-4m-registered-direct-offering-at-9c-per-share" target="_blank" style="color:blue" rel="nofollow noopener">Jet.AI prices $2.4M registered direct offering at 9c per share
- JetAI Stockholders Elect Directors, Approve Key Financial Proposals
- ai-opens-jetleg-ai-app-to-beta-testers" target="_blank" style="color:blue" rel="nofollow noopener">Jet.AI opens JetLeg.AI app to beta testers
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
