Summary by Moomoo AI
Volato Group, Inc. has filed a prospectus supplement to update and supplement information contained in its previous prospectus with its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2024. The report, filed with the SEC on November 19, 2024, includes details on the offering of up to 8,092,122 shares of common stock, up to 15,226,000 warrants, and up to 15,226,000 shares of common stock issuable upon the exercise of the warrants by selling stockholders. The supplement also includes risk factors and a discussion of the company's financial condition and results of operations. Volato Group, Inc. is a private aviation services company that has recently transitioned its fleet operations to flyExclusive, focusing on aircraft sales and proprietary software. The company has reported an increase in revenue primarily due to aircraft sales, with a total revenue of $44.9 million for the nine months ended September 30, 2024, and has plans to continue as a going concern with anticipated margins from aircraft sales and potential future financings.
