Jet.AI Inc. — Director's Dealing 2021

Aug 12, 2021

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: Oxbridge Acquisition Corp. (OXAC)
CIK: 0001861622
Period of Report: 2021-08-11

Reporting Person: OAC Sponsor Ltd. (10% Owner)

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Class B Ordinary Shares	$		Class A Ordinary Shares (2875000)		Direct

Footnotes

F1: As described in the Issuer's registration statement on Form S-1 (File No. 333-257998) under the heading "Description of Securities--Founder Shares", the shares of Class B Ordinary Shares will automatically convert into Class A Ordinary Shares at the time of the Issuer's initial business combination, or at any time prior thereto at the option of the holder, on a one-for-one basis, subject to certain adjustments described therein and have no expiration date.

F2: Includes up to 375,000 Class B Ordinary Shares that are subject to forfeiture if the underwriters in the Issuer's initial public offering do not exercise their over-allotment option in full or in part.

F3: All of the reported shares are held directly by the Reporting Person, and the Board of Directors of the Reporting Person, which has three members, has sole voting and dispositive control over the shares held by the Reporting Person. Under the so-called "rule of three", if voting and dispositive decisions regarding an entity's securities are made by three or more individuals, and a voting or dispositive decision requires the approval of a majority of those individuals, then none of the individuals is deemed a beneficial owner of the entity's securities. Under this rule, no individual manager or member of the Reporting Person exercises voting or dispositive control over any of the securities held by the Reporting Person, even those in which he or she directly holds a pecuniary interest, and accordingly no individual member or manager is deemed to have or share beneficial ownership of such securities.