Volato set to go public via SPAC-merger IPO next week

HondaJet operator Volato is set to go public next week under the ticker symbol SOAR on the New York Stock Exchange.

By Doug Gollan, November 23, 2023

Fractional and jet card operator Volato is set to become publicly traded on the New York Stock Exchange next week.

According to a filing by its merger partner, SPAC Proof Acquisition Corp 1 earlier this week, a vote to approve the deal is scheduled for Nov. 28, 2023.

That means Volato could be trading on the New York Stock Exchange under the symbol SOAR as soon as the next day.

The 2021 start-up has quickly ramped up to become the world’s largest HondaJet operator.

It has also signed a letter of intent for Honda Aircraft’s new long-range light jet, the Echelon.

The Atlanta-based provider announced its IPO in August.

Recently, it said it was sold out of the VLJs until next April.

It is adding the super-midsize Gulfstream G280 to its fleet in 2024.

Volato was ranked as the 21st largest private jet operator by Argus Traqpak through the first six months of 2023.

FlyExclusive, the fifth-largest operator, is expected also to begin trading publicly in early December.

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