Charter & Fractional
After SPAC Merger, Fractional Jet Provider Volato Goes Public on NYSE
Company operates the world's largest HondaJet fleet
Volato jet on runway
A merger with SPAC Proof Acquisition has infused fractional HondaJet operator Volato with nearly $60 million in capital. The company, under the ticker symbol SOAR, made its debut this morning on the New York Stock Exchange. © Curt Epstein

Fractional aircraft and jet card provider Volato has merged with special purpose acquisition company (SPAC) Proof Acquisition Corp. (PACI) and began trading today on the New York Stock Exchange (NYSE) under the ticker symbol SOAR. The merger was approved last week in a special meeting of PACI shareholders.

At the same time, PACI announced the closing of an additional $12 million in private investments, which—along with $14 million in Series A Preferred Equity financing—was converted to common stock. These, with the conversion of Volato’s convertible debt, brings more than $60 million in total new capital funding raised for the company, which operates one of the world’s largest HondaJet fleets.

Loading…

In this article