- 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**.  **[1853070_0001493152-25-018455_ex4-1.htm:0]** **[1853070_0001493152-25-018455_form8-k.htm:1]** 
- 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**.  **[1853070_0001493152-25-018455_form8-k.htm:1]** 
- 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.  **[1853070_0001493152-25-018455_form8-k.htm:1]** 
- 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.  **[1853070_0001493152-25-018455_ex4-1.htm:1]** 
- 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.  **[1853070_0001493152-25-018455_ex4-1.htm:1]** **[1853070_0001493152-25-018455_ex4-1.htm:26]**

Volato Group (SOAR)