FLYX
Jet.AI closes merger with flyExclusive, advancing AI infrastructure pivot
Jet.AI has completed its merger transaction with flyExclusive, marking a key step in its transition to a pure-play AI infrastructure company. Stockholders of record as of July 6, 2026 received one share of Jet.AI SpinCo common stock for each Jet.AI share held, with the distribution completed on July 13, 2026 immediately before the merger. The merger consideration totals 7,096,115 shares of flyExclusive Class A common stock, of which 5,676,892 shares were issued at closing and the remaining 1,957,402 shares are held in reserve pending a final purchase price determination in 90 days. If the final price is at or above the closing calculation, the reserve shares will be issued in full; if lower, flyExclusive will retain shares equal to the shortfall and issue any remainder.