Jet.AI authorizes $5 million share repurchase program

Jet.AI Inc. (NASDAQ: JTAI) announced that its Board of Directors approved a share repurchase program authorizing the company to buy back up to $5 million of its common stock.

The AI cloud services provider said the authorization follows completion of Milestone 3 objectives and securing a natural gas power supply pathway for its Midwestern project. Mike Winston, founder and executive chairman, stated the decision reflects the company's approach to capital allocation and may signal management confidence in long-term business value.

Under the program, Jet.AI may repurchase shares through various methods including open market purchases, privately negotiated transactions, block trades, and accelerated share repurchase transactions. The company will execute buybacks at times and prices it deems appropriate, subject to market conditions and regulatory requirements.

The repurchase program does not require the company to acquire any specific number of shares and may be modified, discontinued, or suspended at any time. Purchases will be made pursuant to Rule 10b5-1 of the Securities Exchange Act and applicable federal and state laws.

Winston indicated repurchases will be considered when the market price appears to understate intrinsic value and when buybacks compete favorably against other capital uses. The program aims to allow continuing shareholders to increase ownership while preserving financial flexibility for future opportunities.

Jet.AI operates as a technology company focused on artificial intelligence infrastructure and cloud services. The company trades on the Nasdaq Capital Market under the ticker symbol JTAI.

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