Volato Group secures up to $1B equity facility to fund AI expansion

• Volato Group (SOAR) said on Monday that it has entered into a common stock purchase agreement with an institutional investor for an equity facility of up to $1B.
• The company plans to use the proceeds to support the development and expansion of its Ohio campus and the development of additional AI infrastructure locations.
• As part of the agreement, each sale is capped at 10% of average daily trading volume, with combined daily sales capped at $6 million and subsequent day sales spaced at least two trading days apart.
• The investor has agreed not to sell short or hedge the company’s common stock for the term of the agreement and not own more than 4.99% of the outstanding common stock at any time.
• The agreement also states that there is no minimum draw, and the company may terminate the agreement without penalty on one trading day’s notice, provided no put notice is pending.
• Source: Press Release

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