8-K
filed November 29, 2023, 6:59 PM ET
ticker SOAR
CIK 0001853070
M&A
confidence high
sentiment negative
materiality 0.85
PACI shareholders approve Volato merger; 6.4M shares redeemed; signs forward purchase deal
Volato Group, Inc.
- Stockholders approved all proposals including the Business Combination with Volato; closing expected by Dec 3, 2023.
- 6,423,300 shares redeemed at ~$10.78/share, withdrawing ~$69.3M from trust; only 19,798 Class A shares remain.
- Forward Purchase Agreement with Vellar to buy up to 2M shares open market to reduce redemptions; seller waives redemption & voting rights.
- Post-merger entity to be Volato Group, Inc., common stock to trade on NYSE American under symbol SOAR.
Key facts
Extracted from this filing and checked against the source text.
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Volato Group, Inc. shareholders approved Advisory - increase authorized shares of Class A Common Stock from 70,000,000 to 80,000,000 at the 2023-11-28 meeting.
- Proposal
- say on pay
- Outcome
- passed
- Meeting
- 2023-11-28
Exact text from the filing
(i). a proposal to increase the authorized number of shares of Class A Common Stock from 70,000,000 to 80,000,000
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Volato Group, Inc. shareholders approved Advisory - change voting threshold to approve amendments to certain provisions of the Proposed Charter at the 2023-11-28 meeting.
- Proposal
- say on pay
- Outcome
- passed
- Meeting
- 2023-11-28
Exact text from the filing
(v). a proposal to change the voting threshold to approve amendments to certain provisions of the Proposed Charter
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Volato Group, Inc. shareholders approved Advisory - change quorum required for meetings of the Board at the 2023-11-28 meeting.
- Proposal
- say on pay
- Outcome
- passed
- Meeting
- 2023-11-28
Exact text from the filing
(ii). a proposal to change the quorum required for meetings of the Board
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Volato Group, Inc. shareholders approved Approve and adopt the Business Combination Agreement and approve the merger and other transactions at the 2023-11-28 meeting.
- Proposal
- merger approval
- Outcome
- passed
- Meeting
- 2023-11-28
Exact text from the filing
The BCA Proposal - a proposal to (a) approve and adopt the Business Combination Agreement
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Volato Group, Inc. shareholders approved Approve issuance of up to 20,707,600 shares of Class A Common Stock pursuant to the Business Combination Agreement at the 2023-11-28 meeting.
- Proposal
- equity plan
- Outcome
- passed
- Meeting
- 2023-11-28
Exact text from the filing
For Against Abstain 11,491,636 406,697 0 The Stock Issuance Proposal - a proposal to approve, for purposes of complying with applicable
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Volato Group, Inc. shareholders approved Approve the 2023 Stock Incentive Plan at the 2023-11-28 meeting.
- Proposal
- equity plan
- Outcome
- passed
- Meeting
- 2023-11-28
Exact text from the filing
The Stock Incentive Plan Proposal - a proposal to approve the 2023 Stock Incentive Plan
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Volato Group, Inc. shareholders approved Approve proposed amended and restated certificate of incorporation at the 2023-11-28 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-11-28
Exact text from the filing
The Charter Amendment Proposal - a proposal to approve the proposed amended and restated certificate of incorporation of PACI
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Volato Group, Inc. shareholders approved Advisory - require a supermajority vote for the removal of directors at the 2023-11-28 meeting.
- Proposal
- say on pay
- Outcome
- passed
- Meeting
- 2023-11-28
Exact text from the filing
(iv). a proposal to require a supermajority vote for the removal of directors
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Volato Group, Inc. shareholders approved Advisory - impose a non-citizen voting limitation at the 2023-11-28 meeting.
- Proposal
- say on pay
- Outcome
- passed
- Meeting
- 2023-11-28
Exact text from the filing
(iii). a proposal to impose a non-citizen voting limitation
View on SEC.gov
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