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SPAC · Merger completed

PROOF Acquisition Corp I

Business combination with Volato, Inc.

PROOF Acquisition Corp I is a blank-check company (SPAC) that raised $240M in its initial public offering on Dec 2, 2021, listing on New York Stock Exchange. It completed its business combination with Volato, Inc. on Dec 1, 2023; the combined company is Volato Group, Inc. (SOAR). BofA Securities led the IPO. Steptoe & Johnson advised the SPAC and Freshfields advised the underwriters on the IPO.

Volato is a full-service private aviation company offering luxury private jet services. Its offerings include fractional ownership, aircraft management, jet card, deposit and charter programs, and it is the target of a business combination with PROOF Acquisition Corp I.

Status
Merger completed
IPO date
Dec 2, 2021
IPO size
$240M
IPO exchange
New York Stock Exchange
Target
Volato, Inc.
Announced
Aug 2, 2023
Closed
Dec 1, 2023
Combined company
Volato Group, Inc. (SOAR)
IPO underwriters
BofA Securities
SPAC counsel (IPO)
Steptoe & Johnson
Underwriters' counsel (IPO)
Freshfields

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