On November 4, 2024, Volato Group, Inc., a Delaware-incorporated company listed on the NYSE American LLC under the symbol SOAR, entered into a Settlement Agreement with Sunpeak Holdings Corporation (SHC). The agreement, which became effective on November 6, 2024, resolves outstanding claims SHC held against Volato Group, with SHC agreeing to purchase approximately $4.7 million in payables from designated vendors of Volato Group. These claims will be settled through the issuance of common stock shares of Volato Group, priced at the closing price on November 4, 2024, with adjustments as stipulated in the agreement. Additionally, Volato Group will issue 100,000 freely trading shares to SHC as a Settlement Fee. The agreement includes a clause that allows for a default declaration if the company's stock price falls...Show More

On November 4, 2024, Volato Group, Inc., a Delaware-incorporated company listed on the NYSE American LLC under the symbol SOAR, entered into a Settlement Agreement with Sunpeak Holdings Corporation (SHC). The agreement, which became effective on November 6, 2024, resolves outstanding claims SHC held against Volato Group, with SHC agreeing to purchase approximately $4.7 million in payables from designated vendors of Volato Group. These claims will be settled through the issuance of common stock shares of Volato Group, priced at the closing price on November 4, 2024, with adjustments as stipulated in the agreement. Additionally, Volato Group will issue 100,000 freely trading shares to SHC as a Settlement Fee. The agreement includes a clause that allows for a default declaration if the company's stock price falls to or below $0.05 per share or if the thirty-day average trading volume drops below 50,000 shares per day. SHC has consented to not owning more than 4.99% of Volato Group's common stock at any time. The Circuit Court for Manatee County, Florida, approved the Settlement Agreement and the issuance of the Settlement Shares on November 6, 2024. The issuance of these shares is in compliance with Section 3(a)(10) of the Securities Act of 1933, which allows for the exemption from registration of securities issued in exchange for outstanding claims, as long as the terms are court-approved.