FlyExclusive Finalizes SPAC Merger

The acquisition has been in the works since 2022.

Kate O'Connor

Friday, December 29, 2023 at 03:44 PM ET

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FlyExclusive’s common stock began trading on December 28. [Courtesy: flyExclusive]

Key Takeaways:

Private jet charter provider FlyExclusive has gone public after completing its merger with special purpose acquisition company (SPAC) EG Acquisition Corp., with its common stock now trading on the NYSE.
FlyExclusive is undergoing significant expansion, securing a $30 million investment for a new pilot training center and headquarters in North Carolina.
The company has rapidly grown its fleet to 100 jets, becoming the second-largest operator of Cessna Citations globally, with plans for up to 30 additional Cessna Citation CJ3+ jets.

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FlyExclusive has completed a merger with special purpose acquisition company (SPAC) EG Acquisition Corp., allowing the private jet charter provider to go public.

Plans for the transaction were first announced in October 2022. The merger was officially approved by EG Acquisition Corp.’s stockholders at a special meeting held last week. flyExclusive’s common stock began trading on the New York Stock Exchange on December 28.