SOAR News & Events

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.

Volato (SOAR) announced that it has entered into an amendment to its aircraft management services agreement with flyExclusive (FLYX) providing for the sale of certain legacy intellectual property assets. The agreement provides for consideration valued at approximately $1.3M, payable in flyExclusive Class A common stock, subject to customary conditions. The assets relate to legacy intellectual property developed during earlier stages of the company's technology initiatives and are not part of Volato's current operating platforms. Volato continues to evaluate opportunities to streamline its asset base and focus resources on strategic priorities, including the continued development of its core software platforms and the pending business combination with M2i Global, Inc.