flyExclusive releases 5.6m shares, 4.3m warrants to boost public float

Private aviation services provider flyExclusive announced it has reached an agreement with EG Sponsor to waive the lock-up of 5,6m shares of the Class A common stock and warrants to purchase 4.3m shares of the Class A common stock.

The company said the waiver will flyExclusive to be included in the Russell Indices through increased volume and liquidity. The move will also support company in raising capital.

“EG Sponsor and its affiliates have been, and will continue to be, outstanding financial and strategic partners to flyExclusive. Since entering the public markets, we have grown the business in a disciplined and thoughtful way, and we look forward to expanding our shareholder base through future inclusion in the Russell Indexes,” said Brad Garner, CFO, flyExclusive.

The Class A common stock and warrants to purchase Class A shares were subject to a one-year lock-up that has now expired.

The lock-up has already been in effect for over 18 months since the closing of the company’s merger with EG Acquisition Corp. on December 27, 2023, and was set to expire on December 27, 2026.

flyExclusive CEO Jim Segrave sat down with Corporate Jet Investor at CJI Miami conference 2024 to discuss more about merger and public listing. You can listen here.