Jet.AI Inc. (NASDAQ:JTAI) shares fell 6.44% in after-hours trading Thursday after the company announced the adjournment of its previously scheduled special meeting of stockholders related to the proposed transaction with FlyExclusive, Inc. (NYSE:FLYX)
Jet.AI is a technology company focused on artificial intelligence tools and high-performance GPU infrastructure.
Deal Vote Delay Pressures Shares
Jet.AI said its special stockholder meeting, originally scheduled for June 11, has been adjourned to June 23, 2026, to allow more time for shareholders to vote on proposals related to the flyExclusive transaction.
As of the May 8 record date, Jet.AI had 1,421,721 shares outstanding. Only 486,285 shares, or approximately 34.2%, were represented at the meeting.
While roughly 99% of votes cast supported the transaction, the deal requires approval from a majority of all outstanding shares, meaning uncast votes effectively count against approval.
The delayed vote may have raised concerns about the uncertainty surrounding the completion of the transaction.
Trading Metrics, Technical Analysis
Jet.AI has a market capitalization of approximately $11.26 million.
The stock has traded between a 52-week high of $810.04 and a 52-week low of $5.00.
Over the past 12 months, JTAI shares have declined approximately 98.9%.
Price Action: According to market data, JTAI closed Thursday's regular session at $7.92, up 7.03% on the day.
The stock then fell 6.44% in after-hours trading to $7.41 as investors weighed uncertainty surrounding shareholder approval of the flyExclusive transaction.
Benzinga Edge Stock Rankings indicate JTAI has negative short-term, medium-term and long-term price trends.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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