Jet.AI enters non-binding LOI for $320M business combination
(NASDAQ:JTAI) announced today that it has entered into a non-binding letter of intent for a business combination with an undisclosed privately held company, according to a press release statement. The proposed transaction values the deal at approximately $320 million in total enterprise value.
Reported by 1 outlet — Investing.com · Company News. See all sources ↓
(NASDAQ:JTAI) announced today that it has entered into a non-binding letter of intent for a business combination with an undisclosed privately held company, according to a press release statement. The proposed transaction values the deal at approximately $320 million in total enterprise value. Jet.AI shareholders would receive approximately $20 million of the $320 million, representing roughly 5-6% of the combined company. The deal comes as Jet.AI trades at a market cap of just $8.15 million, with shares down 99% over the past year to $5.73.
Read the full report at Investing.com · Company News ↗
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- What's the story?
- (NASDAQ:JTAI) announced today that it has entered into a non-binding letter of intent for a business combination with an undisclosed privately held company, according to a press release statement. The proposed transaction values the deal at approximately $320 million in total enterprise value.
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- 1 outlet, average source rating 5.0/10.
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Jet.AI enters non-binding LOI for $320M business combination
Sources1TypeCoverageInvesting.com · Company News