---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-021885"
form_type: "8-K"
ticker: "FLYX"
cik: "0001843973"
company_name: "FLYEXCLUSIVE INC."
filed_at: "2024-02-01T23:59:59+00:00"
generated_at: "2026-06-06T11:28:03.700733+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# flyExclusive secures $25.8M credit facility with EnTrust Global for fractional jet program

## Summary
- Two-year revolving credit facility up to $25.8M, with $25M to finance fractional ownership aircraft.
- Interest rate of 3% on escrowed funds and 13% on drawn balances; monthly principal payments of 1% of drawn advances.
- Facility matures Jan 26, 2026; secured by aircraft sale proceeds, deposit accounts, and second lien on membership interests.
- Gregg Hymowitz (board member, EnTrust CEO) is beneficial owner of ~21% of FLYX Class A common; transaction approved by disinterested directors.
- Proceeds to support vertical integration strategy; press release also notes $30M state investment for new headquarters and training center.

## SEC filing metadata
- accession: 0001193125-24-021885
- form_type: 8-K
- ticker: FLYX
- cik: 0001843973
- company_name: FLYEXCLUSIVE INC.
- filed_at: 2024-02-01T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1843973/000119312524021885/0001193125-24-021885-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1843973/000119312524021885/d743489d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-021885
- JSON: https://secwatch.observer/filing/0001193125-24-021885.json
- Plain text: https://secwatch.observer/filing/0001193125-24-021885.txt

## Key facts
- Debt Financings
  FLYEXCLUSIVE INC. incurred senior notes of up to approximately $25.8 million with ETG FE LLC at 3.00% per annum for the outstanding principal amount on deposit in the cash escr maturing January 26, 2026.
  - Instrument: senior notes
  - Principal: up to approximately $25.8 million
  - Counterparty: ETG FE LLC
  - Rate: 3.00% per annum for the outstanding principal amount on deposit in the cash escr
  - Maturity: January 26, 2026
  - Event: incurrence
  source text: approved by a meeting of our Board of Directors, with only disinterested directors voting. The Note covers borrowings of an aggregate principal amount of up to approximately $25.8 million, up to $25.0 million of which is to finance the purchase or refinancing of aircraft relating to the Company’s fractional ownership program (the “Revolving Loan”). The Note
  evidence_url: https://www.sec.gov/Archives/edgar/data/1843973/000119312524021885/0001193125-24-021885-index.htm
- Material Agreements
  FLYEXCLUSIVE INC. entered into Senior Secured Note with ETG FE LLC valued at aggregate principal amount of up to approximately $25.8 million (effective 2024-01-26).
  - Action: entry
  - Counterparty: ETG FE LLC
  - Value: aggregate principal amount of up to approximately $25.8 million
  - Effective: 2024-01-26
  source text: in such capacity, the “Parent Guarantors”) entered into a Senior Secured Note (the “Note”) with ETG FE LLC, as the initial holder of the Note (the “Noteholder”), Kroll Agency Services, Limited, as administrative agent (the “Administrative Agent”) and Kroll Trustee Services, Limited, (the “Collateral Agent”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1843973/000119312524021885/0001193125-24-021885-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.