Summary by Moomoo AI
On December 19, 2024, Volato Group received a Warning Letter from NYSE Regulation for violating Sections 301 and 713 of the NYSE American Company Guide. The company issued approximately 16 million shares of Class A common stock between November and December 2024 without obtaining required NYSE approval or shareholder approval.The violations stem from a Settlement Agreement dated November 4, 2024. Volato Group failed to file an application for listing additional securities and did not secure shareholder approval for issuing shares equal to 20% or more of outstanding stock. The company is implementing additional controls to prevent future violations.Volato Group must disclose the receipt of this Warning Letter via Form 8-K and a press release within four business days. NYSE Regulation noted that further non-compliance with listing requirements could result in additional actions, including potential delisting proceedings.