Thomas M.
StartEngine JetToken shares for $500 went to…
Through StartEngine I bought JetToken shares for $500 when it became a stock called JetAI value dropped to $25 in the move from StartEngine, this was a loss in value of over 95%, do not recommend using StartEngine, just buy stock directly when it becomes a stock.
Response from StartEngineJun 6, 2024
Hi Thomas! As a result of a reverse merger with Oxbridge Acquisition Corporation ("Oxbridge") in a business combination transaction that closed on August 10, 2023, former Jet Token shareholders received new common shares of Jet.AI based on a Stock Exchange Ratio determined by the Company as part of the merger/business combination. In addition to common shares of Jet.AI, former Jet Token shareholders also received a number of merger consideration warrants, exercisable for shares of Jet.AI common stock based on a separate Warrant Exchange ratio. For former Jet Token shareholders, the total value per share of the merger consideration, attributed to the Jet Token shares upon completion of the business combination was $0.72/share, consisting of $0.31 in Jet.AI common stock and $0.41 in merger consideration warrants which are exercisable for shares of Jet.AI common stock over ten years. Your new common shares have been adjusted due to the application of the Stock Exchange Ratio, which resulted in the issuance of 0.03095529 common shares and 0.04924242 merger consideration warrants of Jet.AI for each share of old Jet Token held. StartEngine does not have any control over when a company chooses to have a corporate action or what happens to its shares. Please reach out to the company directly for further clarification on this issue. If you have any questions, feel free to reach out to us directly and we will assist where we can!




