Volato Group enters $36M convertible note deal; initial $4.5M tranche at 10% OID

Volato Group, Inc.

Issued $4.5M initial convertible Note (purchase price $4.05M, 10% OID) to institutional investor; matures Dec 4, 2025.
Additional tranches up to $30M subject to conditions: shareholder approval within 75 days, trading volume and VWAP thresholds.
Conversion price initially $0.3660/share, subject to reset based on VWAP; floor price initially $0.0732 with periodic resets.
Interest 4% p.a., payable in cash or stock; default rate 18%. 4.99% beneficial ownership limitation (can increase to 9.99%).
Company prohibited from variable-rate transactions while Notes outstanding; covenant to register resale of conversion shares.

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