Volato went public via a SPAC merger with PROOF Acquisition I in a $261m deal.

Volato, an innovator in private aviation, went public via a SPAC merger with PROOF Acquisition I, a special purpose acquisition company, in a $261m deal. “This is an exciting milestone for Volato, our customers, and our investors. We believe that this transaction provides not only the capital to accelerate our fleet growth and strategy, but also a level of transparency and institutional support that should make our product even more attractive to new fractional owners and private fliers. After founding the company in 2021 and quickly ramping to nearly $100m of revenue in 2022, we are now positioned to build on this momentum as a public company. More importantly, we believe that our total funding and capitalization at closing provides us with sufficient capital to execute on our growth strategy and fund our path to profitability. We’re thrilled to begin this new chapter and look forward to delivering more efficient, friendly, and rewarding solutions to travelers while creating value for our shareholders,” Matt Liotta, Volato CEO and Co-Founder.