11:26 AM EST, 11/13/2024 (MT Newswires) -- Jet.AI ( JTAI ) shares surged nearly 18% in recent trading Wednesday after the private aviation company said its board authorized the repurchase of up to $2 million of its common shares from time to time through the end of 2025.

Jet.AI ( JTAI ) also said it has withdrawn the S-1 registration statement for a potential public offering of its units, common stock, pre-funded warrants and warrants to buy additional shares filed with securities regulators.

The company said the likely financial terms of a stock sale no longer were in the best interests of the company or its shareholders.

Price: 7.82, Change: +1.18, Percent Change: +17.73