Volato Group (SOAR) Company Report

Volato Group, Inc. (SOAR) has regained compliance with NYSE American equity listing standards as of December 18, 2025, with its consolidated shareholders’ equity now exceeding the minimum required by Section 1003(a) of the NYSE American Company Guide.
As a result, the “.BC” indicator will be removed from the Company’s trading symbol, and it will be taken off NYSE American’s list of noncompliant issuers.
This compliance resolves a structural overhang and allows Volato to advance its strategic priorities, including the proposed merger with M2i Global, Inc..
The merger is anticipated to close in the first quarter of 2026, subject to customary conditions and regulatory review.
Volato is transitioning to a software and data-driven corporate strategy, aligning with M2i Global’s industrial platform, following the divestiture of aviation assets.

Dec 19, 2025, 1:00 PM

Volato Group Announces flyExclusive Stock Dividend

SOAR

Dividends

New Projects/Investments

Volato Group, Inc. (SOAR) announced that its Board of Directors approved a stock dividend of shares of flyExclusive, Inc. (FLYX) to Volato shareholders on December 15, 2025.
Shareholders of record as of December 26, 2025, will receive approximately 0.0348 shares of flyExclusive common stock for each share of Volato Class A common stock held on the record date.
The dividend is intended to enhance shareholder value and provide investors with direct participation in flyExclusive, a company focused on innovation and growth in the private aviation sector.
Fractional shares of flyExclusive common stock will not be issued; instead, shareholders will receive a cash payment in lieu of any fractional share.

Dec 16, 2025, 1:00 PM

Volato Group, Inc. Files Pro Forma Financials for M2i Global Merger

SOAR

M&A

Accounting Changes

New Projects/Investments

Volato Group, Inc. (SOAR) entered into a Merger Agreement with M2i Global, Inc. on July 28, 2025, under which M2i Global will become a wholly-owned subsidiary.
The merger will be accounted for as a reverse acquisition, with M2i Global determined as the accounting acquirer.
M2i Global shareholders are expected to obtain a controlling financial interest, holding approximately 85% of the combined entity's outstanding voting interests and electing 5 of the 7 Board members.
As of September 30, 2025, the unaudited pro forma condensed combined balance sheet shows total assets of $26,467 thousand.
For the nine months ended September 30, 2025, the unaudited pro forma combined entity reported revenue of $50,719 thousand and net income from continuing operations of $2,406 thousand, with basic and diluted earnings per share of $0.04.

Nov 20, 2025, 10:25 PM

Volato Group, Inc. Files Pro Forma Financials for M2i Global Merger

SOAR

M&A

Accounting Changes

Volato Group, Inc. (SOAR) entered into a Merger Agreement with M2i Global, Inc. on July 28, 2025, which is subject to stockholder approval.
The Merger will be accounted for as a reverse acquisition, with M2i Global identified as the accounting acquirer. Post-merger, legacy M2i Global shareholders are projected to own approximately 85% of the combined entity's outstanding voting interests and will control the Board of Directors.
The estimated purchase price for the reverse acquisition is $20.4 million.
Pro forma net income (loss) from continuing operations for the six months ended June 30, 2025, was $926 thousand, resulting in $0.01 basic and diluted earnings per share. For the year ended December 31, 2024, the pro forma net loss was $(26,545) thousand, with $(0.40) basic and diluted earnings per share.

Oct 27, 2025, 10:15 AM

Volato Group, Inc. Issues Fourth Tranche of Convertible Notes

SOAR

Debt Issuance

Delisting/Listing Issues

Volato Group, Inc. issued a fourth tranche of 10% original issue discount senior unsecured convertible promissory notes on October 16, 2025, with an aggregate original principal amount of $2,220,000.
This fourth tranche note was sold for a purchase price of $1,998,000, reflecting a 10% original issue discount, and matures on October 16, 2026.
This issuance is part of a Securities Purchase Agreement from December 4, 2024, allowing for up to $36,000,000 in aggregate original principal amount of such notes, convertible into Class A common stock.
The notes carry an annual interest rate of 4%, which increases to 18% upon an Event of Default, and interest can be paid in cash, stock, or compounded into principal.
The company's ability to issue shares upon conversion or pay interest in stock is subject to certain Equity Conditions, including compliance with NYSE American LLC listing rules, which noted a failure to satisfy Sections 1003(a)(i) and 1003(a)(ii) of their Company Guide on June 18, 2024.