EG Acquisition and flyExclusive, a provider of premium private jet experiences, announced that the SPAC has filed a preliminary proxy outlining terms of their business combination.
Announced in October, the transaction is expected to be completed in the third quarter. The deal values flyExclusive at a pre-transaction equity value of $600 million and is expected to provide up to $310 million in proceeds, including $85 million of committed convertible notes and $225 million the SPAC holds in trust, assuming no redemptions. Read more.
