SOAR News & Events

Volato Group (SOAR) announced voting results indicate that the shareholders have approved the previously announced merger with M2i Global (MTWO) with 99% of the shares of common stock present or represented by valid proxy at the special meeting voting in favor of the merger. This marks a significant milestone toward closing the transaction and advancing Volato's strategic expansion into the critical minerals sector. The number of shares of common stock present or represented by valid proxy at the special meeting was 15.1 million, representing approximately 40% of the total number of shares of common stock entitled to vote. Management believes that the approval reflects strong shareholder alignment with the Company's strategic direction and long-term growth plans. The merger is currently expected to close by the end of the second quarter of 2026, subject to the satisfaction of remaining customary closing conditions.

Volato Group (SOAR) has suspended further borrowings/drawdowns under its convertible note facility. The Company is not terminating the underlying securities purchase agreement but does not currently expect to access the Facility for additional convertible note funding. In addition, the Company reported that all previously issued notes under the Facility have been converted in full, and there is currently no outstanding principal balance under the Facility. Volato believes the suspension of potential future drawdowns and the full conversion of the previously issued notes supports a cleaner capital markets profile as the Company advances its proposed business combination with M2i Global, Inc. (MTWO).

Volato Group (SOAR) and M2i Global (MTWO) announced that the U.S. Securities and Exchange Commission has declared effective the Registration Statement on Form S-4 relating to Volato's proposed merger with M2i Global, formally advancing the transaction into its shareholder approval and closing phases. Volato is proceeding with distribution of the definitive proxy statement/prospectus and a special meeting of shareholders is expected to be held on May 7, 2026. Shareholders of record as of April 17, 2026 will be entitled to vote on the proposed transaction. Mark Heinen, Chief Financial Officer of Volato Group, added, "From a financial and capital markets perspective, reaching this milestone removes uncertainty and provides clarity on timing. With a defined record date and an expected shareholder meeting date, we believe the market can now more fully evaluate the opportunity ahead."

Volato Group (SOAR) reported that Vaunt annual recurring revenue doubled to approximately $3M in Q1, while total debt declined by nearly 80% year-over-year to approximately $8.3M, positioning the Company below a key closing threshold for its proposed merger with M2i Global (MTWO). Volato has filed an updated registration statement on Form S-4 with the U.S. Securities and Exchange Commission in connection with its previously announced merger with M2i Global and has scheduled a special meeting of stockholders for April 20, 2026. The Company expects total debt to decline to approximately $8.3M as of March 31, representing a reduction of nearly 80% from $39.2M one year ago and positioning Volato below the $10M closing condition in the merger agreement.