Jet Token Inc. has announced that it has entered into a $40 million investment commitment from GEM Global Yield LLC SCS (“GEM”), the $3.4 Billion, Luxembourg based, private alternative investment group with offices in Paris, Nassau (Bahamas), New York, and Los Angeles.
Under the share subscription facility, Jet Token Inc. will have the right to periodically sell to GEM up to $40 million of common stock during a 36-month term following a public listing of the Jet Token common stock.
Jet Token Inc. will control the timing and amount of the drawdowns under this facility.
Las Vegas based Jet Token offers fractional ownership, jet cards and charter service on the HondaJet Elite S.
Through its Argus Platinum operating partner, Cirrus Aviation, the company offers jet cards on a fleet of twenty private aircraft that range in class from light to ultra-long range.