Oxbridge Acquisition Corp (OXAC) Postpones Completion Vote
by Marlena Haddad on 2023-08-02 at 6:04pm

Oxbridge Acquisition Corp. (NASDAQ: OXAC) announced this afternoon that its special meeting, originally scheduled for August 4, has been postponed to 4:00 p.m. ET on August 7.

As a result of this change, the SPAC has extended the redemption deadline to 5:00 p.m. ET on August 3. At the meeting, stockholders of Oxbridge will be asked to vote on a proposal to approve its business combination with private aviation booking and membership platform Jet Token.

The parties inked their $45 million deal earlier this year in February. Oxbridge has an estimated $12.12 million in its trust after seeing 89.68% redeemed during a vote in November 2022. The SPAC did not supplement this with additional committed financing.

Las Vegas-based Jet Token offers fractional aircraft ownership, jet card, aircraft brokerage and charter service through its fleet of private aircraft and those of its Argus Platinum operating partner. Earlier this week, the company announced the launch of its AI-powered charter booking application, CharterGPT, to automate the manual process of booking a private jet.

Upon the closing of the transaction, the combined company will be named Jet.AI Inc. and its securities are expected to be publicly listed on Nasdaq under the ticker symbol “JTAI”.

 

 

 

Recent Posts
by Nicholas Alan Clayton on 2024-06-11 at 8:14am

At the SPAC of Dawn As both SPAC and traditional-way IPO activity picks back up in 2024, SPAC teams might want to brush up on their Spanish as they compete for targets. Spain has not traditionally been considered a tech innovation hotbed, but the combined enterprise value of Spanish startups hit €100 billion last year,...

by Nicholas Alan Clayton on 2024-06-10 at 8:08pm

Centurion Acquisition Corp announced the pricing of its $250 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ALFUU”, Tuesday, June 11, 2024. The new SPAC aims to combine with a technology company with a focus on video gaming, interactive entertainment and enabling services and technologies, cybersecurity, artificial...

by Nicholas Alan Clayton on 2024-06-10 at 3:36pm

Rising Dragon Acquisition Corp (NASDAQ:RDACU) has filed for a $50 million SPAC to hunt for a small cap target in cutting age technology. The SPAC’s units are to be funded to 100% at $10 per unit while including no warrants. Each unit would have a 1/10 right, however, which has been overall not an uncommon...

by Nicholas Alan Clayton on 2024-06-10 at 11:48am

Bayview (NASDAQ:BAYA) has entered into a definitive agreement to combine with Chinese fintech Oabay at an enterprise value of $393 million. Oabay provides cloud-based software to help companies optimize their supply chains with trade credit solutions. The combined company is expected to trade on the Nasdaq once the deal is completed in late 2024. Transaction...

by Nicholas Alan Clayton on 2024-06-10 at 8:25am

At the SPAC of Dawn Last week ended with a flurry of SPAC activity, which may continue into the middle of the month although there are fewer planned corporate actions on the docket for the week. Friday saw three new SPACs file for IPOs bringing June’s tally to four so far. This continues the strong...

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved