Aug. 21 at 4:01 PM
$JTAI In terms of ownership percentage, the proposed
$300 million reverse takeover (RTO) is heavily dilutive to existing Jet.AI (
$JTAI) shareholders. The dilution math (94-95% of the company going to new owners).
However, from an economic/value per share perspective, management says they structured it to attempt to deliver net value accretion.. with bags of money for insiders and facilitators 😂
The open question is whether what JTAI is getting in return is actually worth
$300M, which nobody outside the deal can verify yet given the counterparty is still undisclosed.
Did I mention lots more unconscionable but legal money for insiders and facilitators. I don't remember.