---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-25-024502"
form_type: "8-K"
ticker: "SOAR"
cik: "0001853070"
company_name: "Volato Group, Inc."
filed_at: "2025-11-20T23:59:59+00:00"
generated_at: "2026-05-16T18:10:54.556908+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Volato files pro forma financials for M2i merger; reverse acquisition, Volato holders to own ~15%

## Summary
- Estimated purchase price $13.6M, based on Volato stock closing price of $1.38 as of Nov 11, 2025.
- M2i Global determined as accounting acquirer; Volato shareholders to own about 15% of combined entity.
- Pro forma combined net loss from continuing ops $26.6M (FY2024) and net income $2.4M (9M2025).
- Merger requires stockholder approval and closing conditions, including net debt cap of $10M that M2i may waive.
- Pro forma includes $7.5M goodwill and fair-value adjustments for intangibles and convertible debt conversion.

## SEC filing metadata
- accession: 0001493152-25-024502
- form_type: 8-K
- ticker: SOAR
- cik: 0001853070
- company_name: Volato Group, Inc.
- filed_at: 2025-11-20T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1853070/000149315225024502/0001493152-25-024502-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1853070/000149315225024502/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-024502
- JSON: https://secwatch.observer/filing/0001493152-25-024502.json
- Plain text: https://secwatch.observer/filing/0001493152-25-024502.txt

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