Volato is a full-service private aviation company operating a floating fleet of private jets across the United States with programs including fractional ownership, jet card and deposit programs, aircraft management services, and on- demand charter...Business Combination Agreement • August 2nd, 2023 • PROOF Acquisition Corp I • Blank checks
ATLANTA, GA – (August 2, 2023) – Volato, an innovator in private aviation, announced today that it has entered into a business combination agreement with PROOF Acquisition Corp I (“PACI”) (NYSE: PACI), a Special Purpose Acquisition Company, that will result in Volato becoming a publicly traded company. Upon the close of the transaction, the combined entity is expected to trade under the ticker symbol “SOAR” and will adopt Volato as the corporate operating brand. Volato CEO and Co-Founder Matt Liotta will lead the combined company. Once completed, the transaction will provide Volato with the capital to execute on its vision to transform the private aviation industry by delivering innovative solutions that benefit the company, its customers, and the broader industry.
SPONSOR SUPPORT AGREEMENTSponsor Support Agreement • August 2nd, 2023 • PROOF Acquisition Corp I • Blank checks • Delaware
This SPONSOR SUPPORT AGREEMENT (this “Agreement”) is made and entered into as of August 1, 2023, by and among Volato, Inc., a Georgia corporation (the “Company”), PROOF Acquisition Corp I, a Delaware corporation (the “Acquiror” and as of immediately following the Effective Time, “PubCo”) and PROOF Acquisition Sponsor I, LLC, a Delaware limited liability company (the “Sponsor”). Capitalized terms used but not defined herein shall have the meaning ascribed to such terms in the Merger Agreement (as defined below).
BUSINESS COMBINATION AGREEMENT by and among PROOF ACQUISITION CORP I PACI MERGER SUB, INC.Business Combination Agreement • August 2nd, 2023 • PROOF Acquisition Corp I • Blank checks • Delaware
This Business Combination Agreement, dated August 1, 2023 (this “Agreement”), is made and entered into by and among PROOF Acquisition Corp I, a Delaware corporation (“PACI”), PACI Merger Sub, Inc., a Delaware corporation and a direct wholly-owned subsidiary of PACI (“Merger Sub”), and Volato, Inc., a Georgia corporation (the “Company”). Each of PACI, Merger Sub, and the Company are referred to herein individually as a “Party” and collectively as the “Parties.”
