AcquisitionsJul 14, 2026, 09:02 AM
flyExclusive Completes Acquisition of Jet.AI Aviation Assets
AI Summary
flyExclusive, Inc. announced the successful completion of its previously announced acquisition of the aviation assets of Jet.AI, including Jet.AI SpinCo, Inc. The transaction, finalized on July 13, 2026, involved the conversion of SpinCo shares into flyExclusive Class A common stock, with an aggregate of 7,096,117 shares to be received by SpinCo shareholders. This strategic acquisition adds customers, aircraft, future fleet positions, marketable securities, and growth capital, strengthening flyExclusive's operating platform and supporting its expansion strategy. An amendment to the merger agreement also modified the post-closing net cash adjustment mechanism.
Key Highlights
- Acquisition of Jet.AI's aviation assets completed on July 13, 2026.
- SpinCo shares converted at 3.6253 shares of flyExclusive Class A common stock.
- SpinCo shareholders to receive aggregate of 7,096,117 shares of flyExclusive Common Stock.
- 5,676,893 shares of flyExclusive Common Stock issued at closing.
- Acquired 2 HondaJet aircraft and 1 Citation CJ4 aircraft.
- Acquired approximately $4.1 million securing 3 future Citation CJ3 delivery positions.
- Acquired approximately $6.1 million in marketable securities (SpaceX shares).
- Acquired approximately $5.3 million of cash.
- Amendment No. 5 modified post-closing net cash adjustment mechanism.
Price Impact
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