SPAC EG Acquisition Corp. (NYSE:EGGF) plans to merge with flyExclusive by a deal that estimates the pre-transaction fairness worth of the non-public jet operator at $600M.
The deal is anticipated to generate gross proceeds of up to $310M for the mixed firm, assuming no redemptions by EG stockholders. After the closing, which is anticipated in Q1 2023, shares of the mixed entity are anticipated to commerce on NYSE.
Based mostly in NC, flyExclusive gives on-demand flights with its fleet of over 90 jets. The corporate launched a fractional possession program in 2022 and is anticipated to generate income of round $522M in 2023.
EG Acquisition is sponsored by EnTrust International and GMF Capital. The SPAC held its preliminary public providing in Could 2021, elevating $225M.
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