other material
confidence high
sentiment negative
materiality 0.75
EG Acquisition Corp. pays ~$187M in redemptions; trust drops to ~$43M
FLYEXCLUSIVE INC.
- Paid 18,268,171 Class A shares at ~$10.24/share for aggregate ~$187.0M in redemptions.
- Trust account balance after redemptions is approximately $43.3 million.
- Redemptions reduce available cash for proposed business combination with flyExclusive.
- Preliminary proxy statement for business combination filed May 5, 2023; definitive proxy to be mailed.