Proposed business combination and spin-off designed to provide stockholders with equity in two public companies

LAS VEGAS, July 14, 2026 (GLOBE NEWSWIRE) -- Jet.AI Inc. (NASDAQ:JTAI) ("Jet.AI" or the "Company"), an emerging provider of high-performance GPU infrastructure and AI cloud services, today announced that it has entered into a non-binding letter of intent (the "LOI") for a proposed business combination with a privately held operating company (the "Counterparty"). The proposed transaction is expected to be priced at approximately $320mm of total enterprise value with approximately $20mm of the $320mm (or roughly 5-6% of the pro-forma company) allocated to Jet.AI shareholders. The identity of the Counterparty and the additional commercial terms of the proposed transaction remain confidential pending the completion of due diligence and the negotiation and execution of definitive transaction documents.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.