April 23, 2024
EG Acquisition Corp., the SPAC merger partner of FlyExclusive says a NYSE ‘ongoing review’ has delayed the private jet company’s IPO.
FlyExclusive SPAC merger partner EG Acquisition Corp. said the final step of its merger and listing on the New York Stock Exchange has been delayed.
Approximately 97% of voted shares, representing approximately 90% of the outstanding shares, voted in favor of the merger on Monday, according to a press release issued last night.
Last week, EG Acquisition expected that FlyExclusive could be trading publicly as early as today.
Last night, it said the delay is attributable “to ongoing review by the NYSE American of its listing application.”
The move also delays a previously announced annual meeting from Dec. 22, 2023, to Dec. 27.
The fifth-largest private jet charter/fractional operator will join a growing number of publicly traded private aviation flight providers.
Wheels Up and Blade both went public in 2021.
So far this year, Jet.AI, Surf Air, and Volato have all become publicly traded.
Set Jet is expected to complete its SPAC-merger IPO later this month.
