24/7 Market News Snapshot 18 October, 2024 – Jet.AI Inc. Common Stock (NASDAQ:JTAI)

October 18, 2024

DENVER, Colo., 18 October, 2024 (247marketnews.com) – (NASDAQ:JTAI) are discussed in this article.
Jet.AI Inc. (NASDAQ:JTAI), a prominent player in the private aviation sector, has recently announced a strategic move to bolster its growth initiatives through a registered direct offering. The company has entered into a securities purchase agreement with select institutional investors for the sale of approximately 15.6 million shares of common stock at a purchase price of $0.096 per share, aiming to raise approximately $1.5 million in gross proceeds before fees and expenses. The closing date for this transaction is anticipated around October 21, 2024, pending customary closing conditions, with Maxim Group LLC serving as the exclusive placement agent.

This announcement comes amid a recent decline in Jet.AI’s stock price, which opened at $0.113 and is currently trading at $0.104, reflecting a drop of about 7.33%. Following a closing price of $0.097 in the previous session, investor interest remains high, with trading volumes reaching notable levels of 320.36 million shares. Analysts are advised to monitor critical support levels near $0.097 and resistance around $0.11 to gauge market sentiment and potential volatility.

Jet.AI’s operations are distinctly divided into two segments: Software and Aviation. The Software division features the innovative B2C CharterGPT app, employing advanced technologies to streamline the private jet booking process. Additionally, the Jet.AI Operator platform offers vital resources for FAA Part 135 charter operators, helping to increase revenue, enhance efficiency, and minimize environmental impact. In the Aviation segment, Jet.AI presents a comprehensive array of services, including jet aircraft fractions, jet cards, and brokerage solutions, reinforcing its position within the competitive aviation landscape.

Through this offering, Jet.AI reaffirms its dedication to expanding its innovative services and sustaining growth within the private aviation market.

Related news for (JTAI)

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.