flyExclusive has finalized the additional stock consideration owed to former Jet.AI SpinCo shareholders following its July acquisition of certain Jet.AI assets. The final adjustment will add about 1.54 million shares of flyExclusive Class A common stock, with payment expected on October 30.
- Former SpinCo shareholders initially received 2.900218 flyExclusive shares for each SpinCo share exchanged. They are now due an additional 0.789094 flyExclusive shares per SpinCo share, bringing the total consideration to 3.689312 shares per SpinCo share.
- flyExclusive expects to issue 1,544,575 additional shares in total: 1,419,224 shares previously held in reserve and 125,351 newly added shares.
- No fractional shares will be issued. Fractional entitlements will be combined, rounded up to whole shares, and sold together; the proceeds will be distributed pro rata to the former holders.
- The additional shares are registered and approved for listing on NYSE American.
The issuance increases flyExclusive’s Class A share count. Existing shareholders will not receive any of the additional consideration, and their share counts will not change; they do not need to take action.