NYSE:PACI | Jotup

Volato Announces Closing of Business Combination with PROOF Acquisition Corp I; Secures Additional Equity Financing

Retrieved on:

Friday, December 1, 2023

Transportation, Air, Transport, Travel, LSH, Roth Capital Partners, NYSE, Business analyst, LLP, Investment, New York Stock Exchange, Steptoe & Johnson, NYSE American, PACI, Security (finance), Volato Aeronaves

Volato, Inc., (“Volato”) a leading private aviation company in the United States, and PROOF Acquisition Corp I (NYSE: PACI) (“PACI”) today announced the completion of their business combination (the “Business Combination”).

Key Points:

Volato, Inc., (“Volato”) a leading private aviation company in the United States, and PROOF Acquisition Corp I (NYSE: PACI) (“PACI”) today announced the completion of their business combination (the “Business Combination”).
Concurrent with the closing of the Business Combination, PACI also announced the closing of an additional $12 million of private investments, which, along with the $14 million in Series A Preferred Equity financing completed since July 2023, were converted to common stock at the time of the closing of the Business Combination.
Including these transactions and the conversion of Volato convertible debt, the total capital raised exceeds $60 million.
Matt Liotta, CEO & Co-Founder of Volato commented, “This is an exciting milestone for Volato, our customers, and our investors.

PROOF Acquisition Corp I Announces Intention to Transfer to NYSE American LLC Upon Completion of Business Combination with Volato

Retrieved on:

Thursday, November 30, 2023

Finance, Banking, Professional Services, Other Professional Services, Asset Management, PACI, NYSE American, NYSE, Business analyst, Volato Aeronaves

PROOF Acquisition Corp I (NYSE: PACI) (“PACI” and, after the consummation of its pending business combination (the “Business Combination”) and following its name change to Volato Group, Inc., “Volato”) today announced that, upon completion of the Business Combination, shares of Volato common stock and warrants will be listed on NYSE American LLC (“NYSE American”).

Key Points:

PROOF Acquisition Corp I (NYSE: PACI) (“PACI” and, after the consummation of its pending business combination (the “Business Combination”) and following its name change to Volato Group, Inc., “Volato”) today announced that, upon completion of the Business Combination, shares of Volato common stock and warrants will be listed on NYSE American LLC (“NYSE American”).
The Company’s decision to transfer to the NYSE American was driven by a number of factors, including more favorable listing standards.
Trading is expected to begin on NYSE American on or about December 4, 2023, under the new ticker symbols “SOAR” and “SOAR.WS” for Volato common stock and warrants, respectively, following the consummation of the Business Combination, which is currently expected to occur on or about December 1, 2023.
No action is required by existing PACI shareholders or warrantholders with respect to the ticker symbol or exchange listing change.

PROOF Acquisition Corp I Stockholders Approve Previously Announced Business Combination with Volato

Retrieved on:

Wednesday, November 29, 2023

Public Transport, Air, Transport, Other Transport, NYSE American, NYSE, Special, Business analyst, LLP, SOAR, Steptoe & Johnson, Volato Aeronaves, PACI, Common

PROOF Acquisition Corp I (NYSE: PACI) (“PACI”) today announced that its stockholders voted to approve the previously announced business combination with Volato, Inc. a leading private aviation company in the United States, at the special meeting of stockholders (the “Special Meeting”) held on November 28, 2023.

Key Points:

PROOF Acquisition Corp I (NYSE: PACI) (“PACI”) today announced that its stockholders voted to approve the previously announced business combination with Volato, Inc. a leading private aviation company in the United States, at the special meeting of stockholders (the “Special Meeting”) held on November 28, 2023.
Approximately 97% of the votes cast at the Special Meeting were cast in favor of the approval of the Business Combination.
The closing of the Business Combination is anticipated to occur on or before December 1, 2023.
BTIG, LLC and Roth MKM are serving as financial advisors to Volato, Inc. Womble Bond Dickinson (US) LLP is serving as legal advisor to Volato, Inc. Steptoe & Johnson LLP is serving as legal advisor to PROOF Acquisition Corp I. Lowenstein Sandler LLP is serving as legal advisor to PROOF.vc.

Volato Announces Strategic Reorganization to Fuel Sustained Growth and Business Maturity

Retrieved on:

Thursday, September 14, 2023

"As a rapidly scaling company, it's tempting to focus solely on meeting the immediate demands of growth," said Matt Liotta, Co-Founder and CEO of Volato.

Key Points:

"As a rapidly scaling company, it's tempting to focus solely on meeting the immediate demands of growth," said Matt Liotta, Co-Founder and CEO of Volato.
Today’s announcement demonstrates our commitment to evolving our business structure, optimizing operations, and setting new benchmarks for excellence in private aviation."
Keith Rabin, who has ably served as CFO of Volato, has been promoted to the role of President.
James Cuff, Vice President of Marketing and Business Development at Volato, has 25 years of experience in global consumer brand marketing.

The Volato Stretch Jet Card Wins the Robb Report Best of the Best 2023

Retrieved on:

Thursday, August 17, 2023

Transportation, Air, Transport, Travel, Robb, Insider, Jet card, Airline, Volato Aeronaves

Volato , an innovator in private aviation, announced today it was awarded the Robb Report Best of the Best 2023 in the Jet Card category for the Volato Stretch Jet Card.

Key Points:

Volato , an innovator in private aviation, announced today it was awarded the Robb Report Best of the Best 2023 in the Jet Card category for the Volato Stretch Jet Card.
The Volato Stretch Jet Card is the first and only private aviation offering which rewards itinerary flexibility with bonus time called ‘Stretch Credits’.
“We are thrilled to have won the Robb Report’s Best of the Best jet card for the Volato Stretch Jet Card in today’s competitive market.” Said Norm Katz, Executive Vice President of Sales at Volato.
“And by now adding a key benefit of Volato Stretch to Volato Insider – a reward for itinerary flexibility – our Insider Program is even more compelling, while also enhancing our flight network efficiency.”

Volato, an Innovator in Private Aviation, to Become a Public Company via Business Combination with PROOF Acquisition Corp I

Retrieved on:

Wednesday, August 2, 2023

Volato, an innovator in private aviation, announced today that it has entered into a business combination agreement with PROOF Acquisition Corp I (“PACI”) (NYSE: PACI), a Special Purpose Acquisition Company, that will result in Volato becoming a publicly traded company.

Key Points:

Volato, an innovator in private aviation, announced today that it has entered into a business combination agreement with PROOF Acquisition Corp I (“PACI”) (NYSE: PACI), a Special Purpose Acquisition Company, that will result in Volato becoming a publicly traded company.
Since inception, our team has consistently exceeded its goals, including generating nearly $100 million in revenue in FY 2022.
We were also attracted to Volato’s innovative yet simple business model, set within a highly regulated, traditional industry which is ripe for disruption.
The company now has 18 HondaJets in fleet with a further 23 on firm order from Honda Aircraft Company.