{"schema_version":"secwatch.filing_event.v1","accession":"0001140361-23-056679","form_type":"8-K","ticker":"SOAR","cik":"0001853070","company_name":"Volato Group, Inc.","filed_at":"2023-12-07T23:59:59+00:00","discovered_at":"2026-05-14T18:03:31.071772+00:00","generated_at":"2026-06-07T16:25:34.030534+00:00","sec_items":["1.01","1.02","2.01","5.06","3.02","4.01","9.01","2.03","3.03","5.01","5.02","5.03","5.05","7.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":1.0,"calibrated_materiality_score":1.0,"confidence":"high","headline":"PROOF Acquisition Corp I completes business combination with Volato, now Volato Group; starts trading under SOAR","bullets":["Business combination completed Dec 1, 2023; PACI renamed Volato Group; shares commenced trading Dec 4 on NYSE American under SOAR.","Redemption of 4,675,708 shares at $10.83/share for total $50.6M; remaining trust account $19.1M used for closing expenses.","Post-combination shares outstanding: 28,043,449; warrants outstanding: 29,026,000 (13.8M public, 15.226M private).","Volato raised $10.35M via Series A-1 Preferred (1,035,387 shares) that converted to common in the combination.","New employment agreements for CEO Liotta ($310k base), CFO Heinen ($275k), and other officers with 12-month severance."],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-23-056679","json":"https://secwatch.observer/filing/0001140361-23-056679.json","markdown":"https://secwatch.observer/filing/0001140361-23-056679.md","text":"https://secwatch.observer/filing/0001140361-23-056679.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1853070/000114036123056679/0001140361-23-056679-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1853070/000114036123056679/ny20015054x6_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-07T16:25:34.030534+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"ae09d1a226cc6820017d87331374535905230821","claim":"Volato Group, Inc.: Amended and Restated Bylaws adopted.","evidence_excerpt":"the Board approved and adopted Volato Group’s Amended and Restated Bylaws, which became effective upon the consummation of the Business Combination.","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1853070/000114036123056679/0001140361-23-056679-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"bylaw amendment"}],"fact_type":"governance_change"},{"claim_id":"e8125b5945e49db2cfca7a06dd96a6fc53d980e5","claim":"Volato Group, Inc.: New code of business conduct adopted.","evidence_excerpt":"On the Closing Date, in connection with the Closing, the Board adopted a new code of business conduct applicable to all of Volato Group’s employees, officers and directors.","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1853070/000114036123056679/0001140361-23-056679-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"code of ethics"}],"fact_type":"governance_change"},{"claim_id":"f1bffcb23ca810c804df9029e42b97f4a09ccbdc","claim":"Volato Group, Inc.: PACI ceased to be a shell company as a result of the Business Combination.","evidence_excerpt":"As a result of the Business Combination, PACI ceased to be a shell company.","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1853070/000114036123056679/0001140361-23-056679-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"shell status"}],"fact_type":"governance_change"},{"claim_id":"f29190da03aa16a6328e3f409ba6b9ea1ab275a3","claim":"Volato Group, Inc.: Second Amended and Restated Certificate of Incorporation adopted.","evidence_excerpt":"Volato Group’s Second Amended and Restated Certificate of Incorporation, which became effective upon filing with the Secretary of State of the State of Delaware on the Closing Date, includes the amendments included in the Charter Proposal.","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1853070/000114036123056679/0001140361-23-056679-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"charter amendment"}],"fact_type":"governance_change"},{"claim_id":"d300a1db729fd8c240de180c5639cc8e41a2624b","claim":"Volato Group, Inc. underwent a change of control involving Volato, Inc. (closed 2023-12-01).","evidence_excerpt":"On December 1, 2023, Volato, Inc., a Georgia corporation (“Volato”), PROOF Acquisition Corp I, a Delaware corporation (“PACI”) and PACI Merger Sub, Inc., a Delaware corporation and a direct, wholly-owned subsidiary of PACI (“Merger Sub”), consummated the previously announced Business Combination Agreement, dated August 1, 2023","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1853070/000114036123056679/0001140361-23-056679-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"change of control"},{"label":"Counterparty","value":"Volato, Inc."},{"label":"Closing","value":"2023-12-01"}],"fact_type":"ma_transaction"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}