Overview
- Jet.AI holders at a reconvened special meeting on July 2 voted overwhelmingly in favor of the deal, with about 768,718 shares—roughly 99% of votes cast—supporting the transaction.
- The companies say the transaction is expected to close on or about July 7, 2026, subject to the remaining customary closing conditions and the July 6 record date for distribution of consideration.
- The deal uses a distribution-and-merger structure involving FlyX Merger Sub and Jet.AI SpinCo that will deliver merger consideration to Jet.AI holders while allowing them to keep their existing Jet.AI shares.
- flyExclusive says it will use the combination to accelerate fleet modernization and recurring‑revenue growth, citing Q1 2026 revenue of $96.4 million, a 7% rise in flight hours, and back-to-back positive Adjusted EBITDA.
- If the close proceeds as expected, Jet.AI will focus on becoming a pure‑play AI infrastructure and solutions company while flyExclusive aims to expand its North American private aviation platform and operational scale.