Volato Group, Inc. has submitted Amendment No. 1 to its Registration Statement on Form S-1 to the U.S. Securities and Exchange Commission (SEC) in response to comments from the SEC's Division of Corporation Finance. The amendment, filed on February 9, 2024, addresses the SEC's feedback regarding the disclosure of the purchase price paid by selling securityholders for common shares and warrants, the exercise price of warrants relative to market price, and the potential impact of warrant exercises on the company's liquidity. Volato Group has also updated its risk factors to include the purchase price of securities for resale and the potential profit for private investors despite the current trading price being below the SPAC IPO price. Additionally, the company...Show More

Volato Group, Inc. has submitted Amendment No. 1 to its Registration Statement on Form S-1 to the U.S. Securities and Exchange Commission (SEC) in response to comments from the SEC's Division of Corporation Finance. The amendment, filed on February 9, 2024, addresses the SEC's feedback regarding the disclosure of the purchase price paid by selling securityholders for common shares and warrants, the exercise price of warrants relative to market price, and the potential impact of warrant exercises on the company's liquidity. Volato Group has also updated its risk factors to include the purchase price of securities for resale and the potential profit for private investors despite the current trading price being below the SPAC IPO price. Additionally, the company has revised its financial disclosures to reflect a likely shortfall in its 2023 revenue projections and to discuss the impact of a substantial portion of shares being offered for resale by selling stockholders, which represent approximately 45% of the outstanding common stock. The company's Chief Financial Officer, Mark Heinen, has communicated these updates to the SEC, highlighting the company's position on the relevance of certain profit disclosures based on the current trading price.