November 15, 2024
North Carolina-based FlyExclusive is moving forward with its SPAC IPO and plans to file its prospectus shortly.
After Flexjet and Verijet backed off IPO plans, FlyExclusive says it is moving forward with its SPAC merger.
Speaking to IPO Edge, FlyExclusive Chairman and CEO Jim Segrave said the charter, jet card, and soon-to-be fractional operator is on track to become publicly traded.
Asked about moving forward to become publicly traded, Segrave said, “Any company that is blocking and tackling, that has a profitable operation, and is able to show growth in these challenging times; It’s not necessarily a bad time to go public,”
Speaking about timing, he told the host, “We’ll get our proxy filed in the next 10 days or so,”
He said acquisitions are not on the table. Segrave pointed to its single headquarters and operations hub in Kinston, North Carolina, as an advantage.
He said the plan for finalizing its SPAC merger, which will make it publicly traded, is “August, September.”
FlyExclusive announced its IPO plans last October.
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