Volato Group, Inc. has announced a public offering of Class A Common Stock, Pre-Funded Warrants, and Common Warrants. The company has filed a FORM S-1 Registration Statement with the SEC, marking the offering's progress, though it remains pending until the registration statement is effective. The offering includes 6,849,315 shares of Class A Common Stock, an equal number of Common Warrants, and Pre-Funded Warrants to purchase shares of Common Stock. The Common Warrants are exercisable at the public offering price with a five-year term, while the Pre-Funded Warrants have a nominal exercise price and can be exercised until fully utilized. The offering could potentially involve up to 13,698,630 shares of Class A Common Stock when including the underlying...Show More

Volato Group, Inc. has announced a public offering of Class A Common Stock, Pre-Funded Warrants, and Common Warrants. The company has filed a FORM S-1 Registration Statement with the SEC, marking the offering's progress, though it remains pending until the registration statement is effective. The offering includes 6,849,315 shares of Class A Common Stock, an equal number of Common Warrants, and Pre-Funded Warrants to purchase shares of Common Stock. The Common Warrants are exercisable at the public offering price with a five-year term, while the Pre-Funded Warrants have a nominal exercise price and can be exercised until fully utilized. The offering could potentially involve up to 13,698,630 shares of Class A Common Stock when including the underlying shares of the Pre-Funded Warrants and Common Warrants. A.G.P./Alliance Global Partners and Roth Capital Partners, LLC are serving as co-placement agents. Funds raised are earmarked for general corporate purposes, including working capital and potential acquisitions. Directors, officers, and certain shareholders have entered into a 90-day lock-up agreement post-offering. Despite the offering, there is concern over Volato Group's ongoing viability due to its history of net losses and negative cash flows. The company's audited financial statements for the years ending December 31, 2023, and 2022, have been disclosed. Volato Group's Common Stock is traded on the NYSE American under the ticker 'SOAR', with no current plans to list the warrants.