flyExclusive closes $25M Series B preferred investment from EnTrust/EG Sponsor

FLYEXCLUSIVE INC.

Issued 20,408 Series B preferred shares at $1,000 each and warrants for 4M common shares ($0.01 exercise) to EnTrust, netting $20.4M.
Remaining $5.1M expected from EG Sponsor by Aug 15 for 5,102 preferred shares and 1M warrant shares.
Preferred stock carries escalating annual dividend: 12% initially, 16% from Feb-2025, 20% from Aug-2025; cash dividends mandatory from Q1 2025.
Automatic conversion to common on Dec 31, 2025 or later capital raise at $5.00/share with price protection.
Proceeds planned for fleet upgrade and vertical integration; Q1 2024 results filed but no specific figures provided.

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