Jet.AI (JTAI) shares surged nearly 18% in recent trading Wednesday after the private aviation company said its board authorized the repurchase of up to $2 million of its common shares from time to time through the end of 2025.
Jet.AI also said it has withdrawn the S-1 registration statement for a potential public offering of its units, common stock, pre-funded warrants and warrants to buy additional shares filed with securities regulators.
The company said the likely financial terms of a stock sale no longer were in the best interests of the company or its shareholders.
Price: 7.82, Change: +1.18, Percent Change: +17.73
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