Volato Completes PACI Merger, Prepares to Go Public

Volato has officially merged with PROOF Acquisition Corp I (PACI), clearing the way for the private aviation company to go public.

Kate O'Connor

Friday, December 01, 2023 at 05:50 PM ET

Verified

Volato’s stock will begin trading on the New York Stock Exchange next week. [Shutterstock]

Key Takeaways:

Volato has completed its SPAC merger with PROOF Acquisition Corp I (PACI) and is set to begin trading on the New York Stock Exchange on December 4.
The transaction and recent investments have secured over $60 million in capital, which will be used to fund business operations and expand Volato's fleet, primarily made up of HondaJets.
Volato aims to leverage this capital and newfound transparency to accelerate growth, attract new fractional owners, and capitalize on strong demand in the private aviation industry.

See a mistake? Contact us.

Volato has officially completed a special purpose acquisition company (SPAC) merger with PROOF Acquisition Corp I (PACI), clearing the way for the private aviation company to go public.

Volato, which offers fractional ownership, aircraft management, jet card, deposit, and charter programs, announced its plans to become a publicly traded company last August. PACI shareholders approved the move at a special shareholders meeting on November 28. Volato’s common stock and warrants are set to begin trading on the New York Stock Exchange on December 4.