The merger is expected to be completed by the end of the second quarter with Volato’s Vaunt empty-leg program likely headed to FlyExclusive.
Shareholders of Volato Group have apparently approved the previously announced merger with M2i Global, Inc., with 99% of the shares of common stock present or represented by valid proxy voting in favor of the merger.
The deal was originally announced last June.
According to a press release, “The number of shares of common stock present or represented by valid proxy at the special meeting was 15.1 million, representing approximately 40% of the total number of shares of common stock entitled to vote.”
It continued, “Management believes that the approval reflects strong shareholder alignment with the company’s strategic direction and long-term growth plans.”
Final voting results will be reported in a Form 8-K filed with the Securities and Exchange Commission.
The filing is expected in the next three business days.
The merger is currently expected to close by the end of the second quarter of 2026.
Under the terms of the merger agreement, M2i Global will merge with a wholly owned subsidiary of Volato.
M2i Global will continue as the surviving entity and a wholly owned subsidiary of Volato.
Upon completion of the transaction, existing M2i Global shareholders are expected to own approximately 85% of the combined company.
The combined company is expected to leverage M2i Global’s capabilities across mining, refining, and recycling of critical minerals.
Volato offers expertise in software, data systems, and operational execution, creating a scalable, technology-enabled platform to strengthen domestic supply chains.
Volato CFO Mark Heinen said, “We believe today’s shareholder vote is a strong endorsement of the strategic rationale for combining Volato with M2i Global.”
He added, “With shareholder approval secured, our team is focused on completing the remaining closing steps and positioning the combined company to execute in the critical minerals market.”
M2i Global CEO Alberto C. Rosende said, “We believe this merger positions the combined company to pursue opportunities across the value chain while helping build a more resilient domestic supply chain, and we appreciate the strong support from Volato’s shareholders.”
Volato’s remaining aviation assets are expected to be sold to FlyExclusive.
Volato and FlyExclusive have been involved in a series of agreements and transactions since Volato exited its fractional and jet card program in August 2024.
Most notably, the Vaunt empty leg program is still part of Volato.
It is expected to be sold to FlyExclusive.
Earlier today, FlyExclusive said it will announce its first quarter 2026 financial results.
Results will be available after the market closes on Monday, May 11, 2026.
A FlyExclusive management call to review the results is scheduled for 5:30 p.m. EST.
FLX closed at $2.35.
It has ranged between $1.88 and $8.88 over the past year.
Its current market cap is $223.5 million.
SOAR closed at $0.19.
Its 52-week range has ranged from $0.18 to $3.87.
Its market cap is currently $7.24 million
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