secwatch.observer — SEC 8-K summary
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Issuer:     Volato Group, Inc. (SOAR)
CIK:        0001853070
Form:       8-K
Filed at:   2025-11-20T23:59:59+00:00
Accession:  0001493152-25-024502
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1853070/000149315225024502/0001493152-25-024502-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1853070/000149315225024502/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-024502

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer