secwatch.observer — SEC 8-K summary
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Issuer:     Volato Group, Inc. (SOAR)
CIK:        0001853070
Form:       8-K
Filed at:   2023-05-25T23:59:59+00:00
Accession:  0001140361-23-026461
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 3.03, 5.03, 5.07, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Proof Acquisition Corp I extends business combination deadline to Dec 2023; 21M shares redeemed
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- Shareholders approved extension of business combination deadline from June 3, 2023 to December 3, 2023.
- 21,156,902 Class A shares redeemed from trust, totaling approximately $222.2M (~$10.50 per share).
- Sponsor funds $480,000 for first three-month extension; monthly $160,000 payments thereafter.
- Only 6.4M Class A shares (23%) remain in trust after massive redemptions (77% withdrawn).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1853070/000114036123026461/0001140361-23-026461-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1853070/000114036123026461/brhc20053324_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-026461

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer