Jet.AI proposes a $300M reverse takeover with a $10 per share payout, valuing the combined entity at $320M.
Jet.AI (JTAI) signed a non-binding letter of intent for a reverse takeover with a private firm valued at approximately $300M. The deal would create a combined company worth around $320M, with shareholders receiving about $20M in cash and stock, or roughly $10 per share.
The proposed transaction follows recent market interest in reverse takeovers as a pathway for private companies to go public. No prior valuation or consensus estimates were disclosed for this specific deal.
Shares of Jet.AI surged following the announcement, reflecting investor reaction to the proposed payout and valuation terms.