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424B3: Prospectus

SEC ·  Sep 13, 2024 13:22

Summary by Moomoo AI

Volato Group, Inc. has announced a series of significant updates in a prospectus supplement filed on September 13, 2024. The company is offering up to 8,092,122 shares of common stock, 15,226,000 warrants, and an equal number of shares issuable upon the exercise of those warrants by selling stockholders. This offering is an addition to the prospectus dated April 19, 2024, and includes information from a Current Report filed on September 13, 2024. Volato Group also disclosed the termination of a Fleet Purchase Agreement with Honda Aircraft Company LLC, effective immediately. The agreement, dated May 5, 2023, was for the acquisition of 23 HondaJet HA-420 aircraft with a total purchase price of $161.6 million. Following the termination, Honda Aircraft will retain the deposits paid by Volato Group, which now must enter into individual...Show More
Volato Group, Inc. has announced a series of significant updates in a prospectus supplement filed on September 13, 2024. The company is offering up to 8,092,122 shares of common stock, 15,226,000 warrants, and an equal number of shares issuable upon the exercise of those warrants by selling stockholders. This offering is an addition to the prospectus dated April 19, 2024, and includes information from a Current Report filed on September 13, 2024. Volato Group also disclosed the termination of a Fleet Purchase Agreement with Honda Aircraft Company LLC, effective immediately. The agreement, dated May 5, 2023, was for the acquisition of 23 HondaJet HA-420 aircraft with a total purchase price of $161.6 million. Following the termination, Honda Aircraft will retain the deposits paid by Volato Group, which now must enter into individual purchase agreements for each aircraft. Additionally, the company received a notice from NYSE American LLC on September 9, 2024, indicating that Volato Group's warrants are subject to delisting due to 'abnormally low' price levels. Trading of the warrants has been suspended as of September 10, 2024, although the company's Class A Common Stock continues to trade on the NYSE American. Volato Group does not intend to appeal the delisting decision, and the warrants will be available for trading on the pink sheets or other markets under the symbol 'SOARW'.

This announcement is a separate document:

Doc 1

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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