The business combination consideration will be in the form of a number of fully paid and non-assessable shares of Class A common stock of flyExclusive equal to the quotient of the purchase price, which shall be determined.

Jet.AI currently operates three HondaJets, one CJ4 and a King Air 350i. A new agreement for three further CJ4s comes in addition to its existing super-mid fleet expansion plan for five new Challenger 3500s.

Following a successful $25m order with HondaJet, this new $280m order with Bombardier for larger jets represents a substantial increase in scale. Jet.AI anticipates deliveries to start in 2026.