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The Jet

Luxury intercity motorcoach company featuring the world's first motion-canceling passenger seat

  • $443,004Amount raised
  • $1,114Minimum
  • $12,500,000Pre-Money valuation

Purchased securities are not listed on any exchange. A secondary market for these securities does not currently exist and may never develop. You should not purchase these securities with the expectation that one eventually will.

Website: http://www.thejet.coach

Share:

The Jet is offering securities under both Regulation CF and Regulation D through SI Securities, LLC ("SI Securities"). SI Securities is an affiliate of SeedInvest Technology, LLC, a registered broker-dealer, and member FINRA/SIPC. SI Securities will receive cash compensation equal to 7.50% of the value of the securities sold and equity compensation equal to 2.50% of the number of securities sold. Investments made under both Regulation CF and Regulation D involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest. Furthermore, this profile may contain forward-looking statements and information relating to, among other things, the company, its business plan and strategy, and its industry. Investors should review the risks and disclosures in the offering's draft. The contents of this profile are meant to be a summary of the information found in the company’s Form C. Before making an investment decision, investors should review the company’s Form C for a complete description of its business and offering information, a copy of which may be found both here and below.


Company Highlights

  • Achieved $1.94M in gross revenue since launch in November 2021, and on track to surpass $2M in 2022 (unaudited)
  • First to market with a patented motion-canceling passenger seat designed by Bose engineers that eliminates the bumps and bounces of bus travel (signed a 3-year exclusivity deal)
  • 4.9-star Google rating (190+ reviews) with a high level of brand focus and excitement across social media
  • Consistent monthly sales growth since launch with ridership occupancy averaging > 80% since March 2022
  • The launch corridor of the Northeast is a $700M market, with 50 national expansion markets identified, opening a multi-billion dollar opportunity

Fundraise Highlights

  • Total Amount Raised: US $443,004
  • Total Round Size: US $1,500,000
  • Raise Description:  Seed
  • Minimum Investment:  US $1,114 per investor
  • Security Type:  Preferred Equity
  • Pre-Money valuation :  US $12,500,000
  • Offering Type:   Side by Side Offering

The Jet is redefining intercity travel in America by combining the luxury experience of a private jet with the affordability and convenience of a motorcoach. With $1.9M in revenue, we feature the HoverSeat™, the premier, patented motion-canceling passenger seat.


New York City to Washington, D.C. is the premier mass transit market in North America, yet our travel options are a series of pain points that we pay entirely too much for. At the high end, the hassle and inconvenience of the airline shuttles are rarely justifiable for this short of a trip. The trains can be overcrowded, face disruptions, and have customer service that leaves much to be desired. At the low end, discount bus companies provide an attractive price point, but the positives end there.

The Jet is disrupting the intercity travel space by offering the leading affordable, first-class travel option. Features include:

  • The HoverSeat™, the world’s first motion-canceling passenger seat, patented and designed by Bose engineers (signed exclusivity agreement on tech)
  • An onboard attendant serving light food, drinks, beer & wine
  • An upscale restroom; streaming-fast HiFi WiFi™
  • Advance seat reservations and a seamless boarding process
  • Priced from $99 one-way, city-center-to-city-center

In our first year (since Nov '21), The Jet has become one of the most talked-about luxury travel options between DC and NYC. Featured in the New York Times, Washington Post, and on Good Morning America, we are aiming to take the intercity travel market in the northeast corridor by storm, even causing an aviation journalist to remark, “this could ruin regional airlines.” We have averaged 82% ridership in our first year (since March '22) and routinely sell out on weekends. With only 4 buses in our fleet, demand is literally outstripping supply.

Our business model has passed due diligence with a quorum of accredited investors. Ticket prices range from $99 to $199 one-way, with an average seat price projected to reach $145 by the end of 2023 (currently $135). With 19 seats per coach, we have a 55% operating breakeven point and a 20% net profit margin projected.

Media Mentions

The Team

Founders and Officers

Chad Scarborough

Founder and CEO

As well as founding The Jet, Chad is also the Founder & Creative Director of Patchwork Creative, a national-award-winning, D.C.-based ad agency. He brings over 20 years experience in communications, brand strategy, and advertising to The Jet. Chad holds an M.B.A. from NYU Stern School of Business with concentrations in Marketing and Entrepreneurship.

Chad Scarborough

Founder and CEO

As well as founding The Jet, Chad is also the Founder & Creative Director of Patchwork Creative, a national-award-winning, D.C.-based ad agency. He brings over 20 years experience in communications, brand strategy, and advertising to The Jet. Chad holds an M.B.A. from NYU Stern School of Business with concentrations in Marketing and Entrepreneurship.

Rob was a commando officer in the British Royal Marines for 18 years, specializing in operations and logistics. He then co-founded an online wholesale marketplace, and - immediately prior to joining Chad at The Jet - was the inaugural GM in the US for a Series B food-delivery service. As part of his executive education, he studied corporate finance at Columbia and hospitality & revenue management at Cornell.

Rob Thorpe

COO

Rob was a commando officer in the British Royal Marines for 18 years, specializing in operations and logistics. He then co-founded an online wholesale marketplace, and - immediately prior to joining Chad at The Jet - was the inaugural GM in the US for a Series B food-delivery service. As part of his executive education, he studied corporate finance at Columbia and hospitality & revenue management at Cornell.

Key Team Members

Charles Neal

General Manager

Damon Mininni

Fleet & Operations Manager

Notable Advisors & Investors

Matt Curwood

Advisor, Strategy, Former President of Loop Transportation

Kristina Bouweiri

Advisor, Strategy, President and CEO of Reston Limousine Service

Keith Prusek

Advisor, Strategy, Managing Director, Global Co-Head at Jefferies

Term Sheet

A Side by Side offering refers to a deal that is raising capital under two offering types. Investments made through the SeedInvest platform are offered via Regulation CF and subject to investment limitations further described in the Form C and/or subscription documents. Investments made outside of the SeedInvest platform are offered via Regulation D and requires one to be a verified accredited investor in order to be eligible to invest.

Fundraising Description

  • Round type:
    Seed

  • Round size:
    US $1,500,000

  • Raised to date:
    US $443,004
    US $143,004 (under Reg CF only)

  • Minimum investment:
    US $1,114

  • Target Minimum:
    US $50,000
  • Key Terms

  • Security Type:
    Preferred Equity

  • Share price:
    US $185.72

  • Pre-Money valuation:
    US $12,500,000

  • Option pool:
    10.0%

  • Is participating?:
    False

  • Liquidation preference:
    1.0x
  • Additional Terms

  • Custody of Shares:

    Investors who invest less than $50,000 will have their securities held in trust with a Custodian that will serve as a single shareholder of record. These investors will be subject to the Custodian’s Account Agreement, including the electronic delivery of all required information.


  • Closing conditions:
    While The Jet has set an overall target minimum of US $50,000 for the round, The Jet must raise at least US $25,000 of that amount through the Regulation CF portion of their raise before being able to conduct a close on any investments made via Regulation CF. For further information please refer to The Jet's Form C.

  • Regulation CF cap:
    While The Jet is offering up to US $1,500,000 worth of securities in its Seed, only up to US $1,235,000 of that amount may be raised through Regulation CF.

  • Transfer restrictions:
    Securities issued through Regulation CF have a one year restriction on transfer from the date of purchase (except to certain qualified parties as specified under Section 4(a)(6) of the Securities Act of 1933), after which they become freely transferable. While securities issued through Regulation D are similarly considered "restricted securities" and investors must hold their securities indefinitely unless they are registered with the SEC and qualified by state authorities, or an exemption from such registration and qualification requirements is available.

  • Total Amount Raised:
    The Total Amount Raised may include investments made outside of the SeedInvest platform via Regulation D. Off-platform investments from non-affiliates completed after the determination of the escrow target may be counted towards that escrow target.

  • Update on SeedInvest:
    Circle, SeedInvest's parent company, has made the strategic decision to focus on its core business and, as a result, entered into an agreement to divest SeedInvest to fellow fundraising platform, StartEngine. The finalization of this acquisition is contingent upon FINRA approval, which is expected to be received in up to six months. During that time, SeedInvest intends to continue operating as usual, including facilitating investments into startup companies. The value of the securities you purchase through the SeedInvest platform will not be impacted and the securities will continue to be subject to the custodial arrangement outlined in “Custody of Shares”. StartEngine will facilitate custody of investments and management of investor actions after the formal closing of the acquisition. Investors will be proactively notified of any actions that may be required and any updated information. Please find more detail at seedinvest.com/about and please reach out to contactus@seedinvest.com with any questions.

  • Use of Proceeds

    Investor Perks

    Anyone who invests $1,500+ by Saturday, January 14th, at 11:59pm ET will receive one free transferable one-way trip between DC and NYC in addition to other perks. 

    Invest $1,500-$1,999, receive:

    • A 50% discount off a roundtrip with The Jet (transferable)
    • 20 x $10 gift certificates to share with friends and family

    Invest $2,000-$9,999, receive:

    • 1 x free roundtrip between DC and NYC (transferable)
    • 4 x 50% discounts for roundtrips on The Jet (transferable)
    • 20 x $10 gift certificates to share with friends and family

    Invest $10,000-$49,999, receive:

    • 1 x free roundtrip for up to 4 people.
    • Limited Edition The Jet The North Face Men's ThermoBall Trekker Jacket
    • 4 x 50% discounts for roundtrips on The Jet (transferable)
    • 20 x $10 gift certificates to share with friends and family

    Invest $50,000 or more, receive:

    • 1 x Unlimited ride pass for one year (giftable)

    or

    • 1 x day private charter for you and 18 friends to enjoy The Jet for a special event (originating DC/NYC metro areas only) (a $5,350 value)
    • Limited Edition The Jet The North Face Men's ThermoBall Trekker Jacket
    • 4 x 50% discounts for roundtrips on The Jet (transferable)
    • 20 x $10 gift certificates to share with friends and family

    It is advised that you consult a tax professional to fully understand any potential tax implications of receiving investor perks before making an investment.

    Please note that due to share price calculations, some final investment amounts may be rounded down to the nearest whole share - these will still qualify for the designated perk tier. Additionally, investors must complete the online process and receive an initial email confirmation by the deadline stated above in order to be eligible for perks.

    Prior Rounds

    The graph below illustrates the valuation cap or the pre-money valuation of The Jet's prior rounds by year.


    This chart does not represent guarantees of future valuation growth and/or declines.

    Pre-Seed

  • Round Size
    US $4,725,000
  • Closed Date
    Jun 15, 2021
  • Security Type
    Preferred Equity
  • Pre-Money valuation
    US $6,000,000
  • Market Landscape

    Offering a truly first-class motorcoach experience, we believe The Jet easily surpasses its competition in terms of luxury, convenience and value. There is no other company doing what we are doing in the Northeast corridor. Vonlane in Texas and RedCoach in Florida offer a business-class type experience. Our primary competition along this initial route is the Amtrak Regional service; and secondary is the Acela, Delta and American air shuttles, and the discount buses.

    The market opportunity, even just regionally in the Northeast Corridor, is large. There are 7M passenger trips between DC and NYC per year for a market value of $700M. Based on our growth projections, even when we grow to 22 motorcoaches and open routes connecting Philadelphia and Baltimore, we would still account for less than 5% of the total addressable market.

    Beyond this initial corridor, we have identified over 50 expansion markets nationally, opening us up to a multi-billion dollar opportunity. In the short-term, we plan to expand our footprint in D.C. and NYC and expand to Philadelphia and Baltimore in 2024. For competitor reference, the top tier, domestic bus companies combine for over $4B in annual revenue.

    We think that The Jet is off to a terrific and better-than-expected start, enjoying wide appeal in our first year. Our initial target market is young professionals aged 25-34. Around 50% of our guests are currently in this demographic and are primarily traveling for leisure. We expect this segment to grow next year, when we expand our schedule and launch B2B marketing. Our stops at Metro Center in Washington, D.C. and Hudson Yards in Manhattan are ideally placed to attract business travelers. Beyond the convenience, comfort, and ease-of-travel, a fundamental selling point of The Jet is that the time spent onboard is truly productive thanks to our streaming-fast WiFi.

    Risks and Disclosures

    The development and commercialization of the Company’s products and services are highly competitive. It faces competition with respect to any products and services that it may seek to develop or commercialize in the future. Its competitors include major companies worldwide. The transportation market is an emerging industry where new competitors are entering the market frequently. Many of the Company’s competitors have significantly greater financial, technical and human resources and may have superior expertise in research and development and marketing approved services and thus may be better equipped than the Company to develop and commercialize services. These competitors also compete with the Company in recruiting and retaining qualified personnel and acquiring technologies. Smaller or early stage companies may also prove to be significant competitors, particularly through collaborative arrangements with large and established companies. Accordingly, the Company’s competitors may commercialize products more rapidly or effectively than the Company is able to, which would adversely affect its competitive position, the likelihood that its services will achieve initial market acceptance and its ability to generate meaningful additional revenues from its products and services.

    Maintaining, extending, and expanding the Company's reputation and brand image are essential to the Company's business success. The Company seeks to maintain, extend, and expand their brand image through marketing investments, including advertising and consumer promotions, and product innovation. Increasing attention on marketing could adversely affect the Company's brand image. It could also lead to stricter regulations and greater scrutiny of marketing practices. Existing or increased legal or regulatory restrictions on the Company's advertising, consumer promotions and marketing, or their response to those restrictions, could limit their efforts to maintain, extend and expand their brands. Moreover, adverse publicity about regulatory or legal action against the Company could damage the Company's reputation and brand image, undermine their customers’ confidence and reduce long-term demand for their products, even if the regulatory or legal action is unfounded or not material to their operations.

    In addition, the Company's success in maintaining, extending, and expanding the Company's brand image depends on their ability to adapt to a rapidly changing media environment. The Company increasingly relies on social media and online dissemination of advertising campaigns. The growing use of social and digital media increases the speed and extent that information or misinformation and opinions can be shared. Negative posts or comments about the Company, their brands or their products on social or digital media, whether or not valid, could seriously damage their brand and reputation. If the Company does not establish, maintain, extend and expand their brand image, then their product sales, financial condition and results of operations could be adversely affected.

    Quality management plays an essential role in determining and meeting customer requirements, preventing issues, improving the Company’s products and services, and maintaining the safety and efficacy of its services. The Company's future success depends on their ability to maintain and continuously improve their quality management program. An inability to address a quality or safety issue in an effective and timely manner may also cause negative publicity, a loss of customer confidence in the Company or the Company's current or future services, which may result in the loss of sales and difficulty in successfully launching new services. In addition, a successful claim brought against the Company in excess of available insurance or not covered by indemnification agreements, or any claim that results in significant adverse publicity against the Company could have an adverse effect on their business and their reputation.

    The Company’s expenses will significantly increase as they seek to execute their current business model. Although the Company estimates that it has enough runway until end of year, they will be ramping up cash burn to promote revenue growth, further develop R&D, and fund other Company operations after the raise. Doing so could require significant effort and expense or may not be feasible.

    The Company’s success depends on the experience and skill of the board of directors, its executive officers and key employees. In particular, the Company is dependent on Chad Scarborough and Rob Thorpe. There can be no assurance that they will continue to be employed by the Company for a particular period of time. The loss of the Company’s key employees or any member of the board of directors or executive officer could harm the Company’s business, financial condition, cash flow and results of operations.

    Failure by the Company to transport their passengers on time and in a safe manner could result in lost sales. The Company currently relies upon bus drivers as transportation providers for their services. The Company utilization of delivery services is subject to risks, including increases in fuel prices, which would increase their shipping costs, employee strikes, and inclement weather, which may impact the ability of providers to provide services that adequately meet their needs. The Company could face logistical difficulties that could adversely affect transports and their operating results.

    The Company does not have formal advisor agreements in place with listed advisors. Advisor agreements typically provide the expectation of the engagement, services, compensation, and other miscellaneous duties and rights of the Company and advisor. These individuals may not be compensated for their expertise and advice. There is no guarantee that advisor agreements will be entered into.

    The company currently has approximately $1,151,721 in secured debt. The Company owes this principal amount to the Small Business Association for a loan that is due in December of 2029 and is secured with company assets. This may require the Company to dedicate a substantial portion of its cash flow from operations or the capital raise to pay principal of, and interest on, indebtedness, thereby reducing the availability of cash flow to fund working capital, capital expenditures, or other general corporate purposes, or to carry out other business strategies. The Loan is personally guaranteed by the Founder, Chad Scarborough. In addition, the terms of the Loan clarify that upon any event of default, the Lender may declare all or any portion of the Loan to be immediately due and payable. One of the Events of Default, as defined in that agreement is a general inability to pay its debts. The Loan is secured with a continuing security interest in all the Company’s assets.

    The Company has not filed a Form D for its Pre-Seed offering from June 2021. The SEC rules require a Form D to be filed by companies within 15 days after the first sale of securities in the offering relying on Regulation D. Failing to register with the SEC or get an exemption may lead to fines, the right of investors to get their investments back, and even criminal charges. There is a risk that a late penalty could apply.

    The Company’s Board does not keep meeting minutes from its board meetings. Though the Company is a Delaware Corporation and Delaware does not legally require its corporations to record and retain meeting minutes, the practice of keeping board minutes is critical to maintaining good corporate governance. Minutes of meetings provide a record of corporate actions, including director and officer appointments and board consents for issuances, and can be helpful in the event of an audit or lawsuit. These record-keeping practices can also help to reduce the risk of potential liability due to failure to observe corporate formalities, and the failure to do so could negatively impact certain processes, including but not limited to the due diligence process with potential investors or acquirers. There is no guarantee that the Company’s board will begin keeping board meeting minutes.

    The Company does not hold regular board meetings. Although the Company is not legally required to conduct regular board meetings, holding these regular meetings can play a critical role in effective management and risk oversight. Regular board meetings can help ensure that management’s actions are consistent with corporate strategy, reflective of the culture of the business, and in line with the organization’s risk tolerance. There is no guarantee that the Company will hold regular board meetings in the future. The Company has confirmed that they do have board resolutions supporting all major decisions.

    The Company projects aggressive growth in 2023. If these assumptions are wrong and the projections regarding market penetration are too aggressive, then the financial forecast may overstate the Company's overall viability. In addition, the forward-looking statements are only predictions. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

    The Company has not prepared any audited financial statements. Therefore, investors have no audited financial information regarding the Company’s capitalization or assets or liabilities on which to make investment decisions. If investors feel the information provided is insufficient, then they should not invest in the Company.

    The outbreak of the novel coronavirus, COVID-19, has adversely impacted global commercial activity and contributed to significant declines and volatility in financial markets. The coronavirus pandemic and government responses are creating disruption in global supply chains and adversely impacting many industries. The outbreak could have a continued material adverse impact on economic and market conditions and trigger a period of global economic slowdown. The rapid development and fluidity of this situation precludes any prediction as to the ultimate material adverse impact of the novel coronavirus. Nevertheless, the novel coronavirus presents material uncertainty and risk with respect to the Funds, their performance, and their financial results.

    General Risks and Disclosures

    Start-up investing is risky. Investing in startups is very risky, highly speculative, and should not be made by anyone who cannot afford to lose their entire investment. Unlike an investment in a mature business where there is a track record of revenue and income, the success of a startup or early-stage venture often relies on the development of a new product or service that may or may not find a market. Before investing, you should carefully consider the specific risks and disclosures related to both this offering type and the company which can be found in this company profile and the documents in the data room below.

    Your shares are not easily transferable. You should not plan on being able to readily transfer and/or resell your security. Currently there is no market or liquidity for theseshares and the company does not have any plans to list these shares on an exchange or other secondary market. At some point the company may choose to do so, but until then you should plan to hold your investment for a significant period of time before a "liquidation event" occurs. A "liquidation event" is when the company either lists their shares on an exchange, is acquired, or goes bankrupt.

    The Company may not pay dividends for the foreseeable future. Unless otherwise specified in the offering documents and subject to state law, you are not entitled to receive any dividends on your interest in the Company. Accordingly, any potential investor who anticipates the need for current dividends or income from an investment should not purchase any of the securities offered on the Site.

    Valuation and capitalization. Unlike listed companies that are valued publicly through market-driven stock prices, the valuation of private companies, especially startups, is difficult to assess and you may risk overpaying for your investment. In addition, there may be additional classes of equity with rights that are superior to the class of equity being sold.

    You may only receive limited disclosure. While the company must disclose certain information, since the company is at an early-stage they may only be able to provide limited information about its business plan and operations because it does not have fully developed operations or a long history. The company may also only be obligated to file information periodically regarding its business, including financial statements. A publicly listed company, in contrast, is required to file annual and quarterly reports and promptly disclose certain events through continuing disclosure that you can use to evaluate the status of your investment.

    Investment in personnel. An early-stage investment is also an investment in the entrepreneur or management of the company. Being able to execute on the business plan is often an important factor in whether the business is viable and successful. You should be aware that a portion of your investment may fund the compensation of the company's employees, including its management. You should carefully review any disclosure regarding the company's use of proceeds.

    Possibility of fraud. In light of the relative ease with which early-stage companies can raise funds, it may be the case that certain opportunities turn out to be money-losing fraudulent schemes. As with other investments, there is no guarantee that investments will be immune from fraud.

    Lack of professional guidance. Many successful companies partially attribute their early success to the guidance of professional early-stage investors (e.g., angel investors and venture capital firms). These investors often negotiate for seats on the company's board of directors and play an important role through their resources, contacts and experience in assisting early-stage companies in executing on their business plans. An early-stage company may not have the benefit of such professional investors.

    The Jet's Form C

    The Form C is a document the company must file with the Securities and Exchange Commission, which includes basic information about the company and its offering and is a condition to making a Reg CF offering available to investors. It is important to note that the SEC does not review the Form C, and therefore is not recommending and/or approving any of the securities being offered.

    Download The Jet's  Form C

    Frequently Asked Questions

    About Side by Side Offerings
    What is Side by Side?

    A Side by Side offering refers to a deal that is raising capital under two offering types. This Side by Side offering is raising under Regulation CF and Rule 506(c) of Regulation D.


    What is a Form C?

    The Form C is a document the company must file with the Securities and Exchange Commission (“SEC”) which includes basic information about the company and its offering and is a condition to making a Reg CF offering available to investors. It is important to note that the SEC does not review the Form C, and therefore is not recommending and/or approving any of the securities being offered.

    Before making any investment decision, it is highly recommended that prospective investors review the Form C filed with the SEC (included in the company's profile) before making any investment decision.


    What is Rule 506(c) under Regulation D?

    Rule 506(c) under Regulation D is a type of offering with no limits on how much a company may raise. The company may generally solicit their offering, but the company must verify each investor’s status as an accredited investor prior to closing and accepting funds. To learn more about Rule 506(c) under Regulation D and other offering types check out our blog and academy.


    What is Reg CF?

    Title III of the JOBS Act outlines Reg CF, a type of offering allowing private companies to raise up to $5 million from all Americans. Prior capital raising options limited private companies to raising money only from accredited investors, historically the wealthiest ~2% of Americans. Like a Kickstarter campaign, Reg CF allows companies to raise funds online from their early adopters and the crowd. However, instead of providing investors a reward such as a t-shirt or a card, investors receive securities, typically equity, in the startups they back. To learn more about Reg CF and other offering types check out our blog and academy.


    Making an Investment in The Jet
    How does investing work?

    When you complete your investment on SeedInvest, your money will be transferred to an escrow account where an independent escrow agent will watch over your investment until it is accepted by The Jet. Once The Jet accepts your investment, and certain regulatory procedures are completed, your money will be transferred from the escrow account to The Jet in exchange for your securities. At that point, you will be a proud owner in The Jet.


    What will I need to complete my investment?

    To make an investment, you will need the following information readily available:

    1. Personal information such as your current address and phone number
    2. Employment and employer information
    3. Net worth and income information
    4. Your accredited investor status
    5. Social Security Number or passport
    6. ABA bank routing number and checking account number (typically found on a personal check or bank statement) or debit card information, unless paying via a Wire transfer.

    How much can I invest?

    Non-accredited investors are limited in the amount that he or she may invest in a Reg CF offering during any rolling 12-month period:

    • If either the annual income or the net worth of the investor is less than $107,000, the investor is limited to the greater of $2,200 or 5% of the greater of his or her annual income or net worth.
    • If the annual income and net worth of the investor are both greater than $107,000, the investor is limited to 10% of the greater of his or her annual income or net worth, to a maximum of $107,000.

    Separately, The Jet has set a minimum investment amount of US $1,114.

    Accredited investors do not have any investment limits.


    After My Investment
    What is my ongoing relationship with the Issuer?

    You are a partial owner of the company, you do own securities after all! But more importantly, companies which have raised money via Regulation CF must file information with the SEC and post it on their websites on an annual basis. Receiving regular company updates is important to keep shareholders educated and informed about the progress of the company and their investment. This annual report includes information similar to a company’s initial Reg CF filing and key information that a company will want to share with its investors to foster a dynamic and healthy relationship.

    In certain circumstances a company may terminate its ongoing reporting requirement if:

    1. The company becomes a fully-reporting registrant with the SEC
    2. The company has filed at least one annual report, but has no more than 300 shareholders of record
    3. The company has filed at least three annual reports, and has no more than $10 million in assets
    4. The company or another party purchases or repurchases all the securities sold in reliance on Section 4(a)(6)
    5. The company ceases to do business

    However, regardless of whether a company has terminated its ongoing reporting requirement per SEC rules, SeedInvest works with all companies on its platform to ensure that investors are provided quarterly updates. These quarterly reports will include information such as: (i) quarterly net sales, (ii) quarterly change in cash and cash on hand, (iii) material updates on the business, (iv) fundraising updates (any plans for next round, current round status, etc.), and (v) any notable press and news.


    How can I sell my securities in the future?

    Currently there is no market or liquidity for these securities. Right now The Jet does not plan to list these securities on a national exchange or another secondary market. At some point The Jet may choose to do so, but until then you should plan to hold your investment for a significant period of time before a “liquidation event” occurs. A “liquidation event” is when The Jet either lists their securities on an exchange, is acquired, or goes bankrupt.


    How do I keep track of this investment?

    You can return to SeedInvest at any time to view your portfolio of investments and obtain a summary statement. If invested under Regulation CF you may also receive periodic updates from the company about their business, in addition to monthly account statements.


    Other General Questions
    What is this page about?

    This is The Jet's fundraising profile page, where you can find information that may be helpful for you to make an investment decision in their company. The information on this page includes the company overview, team bios, and the risks and disclosures related to this investment opportunity. If the company runs a side by side offering that includes an offering under Regulation CF, you may also find a copy of the The Jet's Form C. The Form C includes important details about The Jet's fundraise that you should review before investing.


    How can I (or the company) cancel my investment under Regulation CF?

    For offerings made under Regulation CF, you may cancel your investment at any time up to 48 hours prior to the offering end date or an earlier date set by the company. You will be sent a notification at least five business days prior to a closing that is set to occur earlier than the original stated end date giving you an opportunity to cancel your investment if you have not already done so. Once a closing occurs, and if you have not canceled your investment, you will receive an email notifying you that your securities have been issued. If you have already funded your investment, your funds will be promptly refunded to you upon cancellation. To cancel your investment, you may go to your account's portfolio page by clicking your profile icon in the top right corner.


    What if I change my mind about investing?

    If you invest under any other offering type, you may cancel your investment at any time, for any reason until a closing occurs. You will receive an email when the closing occurs and your securities have been issued. If you have already funded your investment and your funds are in escrow, your funds will be promptly refunded to you upon cancellation. To cancel your investment, please go to your account's portfolio page by clicking your profile icon in the top right corner.