flyExclusive, a prominent name in delivering top-tier private jet charter experiences, and EG Acquisition Corp., a Special Purpose Acquisition Company backed by EnTrust Global and GMF Capital, have officially finalized their anticipated business merger, as jointly revealed.
Following the successful business combination, the merged entity has been rebranded as flyExclusive, Inc. Commencing December 28, 2023, the company’s common stock is set to commence trading on the NYSE American, now identified by the new ticker symbol ‘FLYX.’ The amalgamation received unanimous approval at a special meeting of EG Acquisition Corp.’s stockholders on December 18, 2023.
In expressing this significant development, Jim Segrave, Chief Executive Officer, and founder of flyExclusive, stated, “Today marks another milestone in our company’s mission to enhance the private aviation experience. We established flyExclusive with a focus on the crucial importance of time for our customers, and this principle will continue to drive the strategic approach that has defined our success in the industry.”
Gregg S. Hymowitz, CEO and Director of EG Acquisition Corp. and Chairman and CEO of EnTrust Global, reiterated, “As we highlighted during the announcement of the transaction, flyExclusive has rapidly emerged as one of the fastest-growing providers of premium private jet charter experiences. This is attributed to their exceptional leadership team, a business model crafted for optimal utilization and flight unit economics, and their unwavering commitment to delivering top-notch service. We are thrilled that Jim and the flyExclusive team have reached this milestone, and we believe they are well-positioned to further enhance their market standing as a publicly traded company.”
Gary Fegel, founder of GMF Capital and Chairman of EG Acquisition Corp., expressed confidence, stating, “We are confident that flyExclusive’s unique model, coupled with their proven track record and our strategic investment, align well with the ongoing growth in the private aviation market. We anticipate that flyExclusive will continue to fortify its leadership position, delivering shareholder value. We eagerly anticipate witnessing their accomplishments in this new phase of the company’s journey.
Advisors
BTIG, LLC served as financial and capital markets advisor to EG Acquisition Corp. Wyrick Robbins Yates & Ponton LLP is serving as legal advisor to flyExclusive, Willkie Farr & Gallagher LLP is serving as legal advisor to EG Acquisition Corp. and Vedder Price P.C. is serving as FAA counsel to EG Acquisition Corp. Kirkland & Ellis LLP is serving as legal counsel to BTIG, LLC, and Vinson & Elkins is serving as legal counsel to the Noteholders.
About flyExclusive
flyExclusive is a vertically integrated, FAA-regulated operator of private jet experiences offering customers on-demand charter, Jet Club, and fractional jet services to destinations across the globe. As one of the world’s largest owners/operators of Cessna Citation aircraft, flyExclusive owns a floating fleet of 100 light to heavy jets. The company manages all aspects of the customer experience, ensuring that every flight is on a modern, comfortable, and safe aircraft. flyExclusive’s in-house Maintenance, Repair, and Overhaul services, including paint, interiors, and avionics capabilities, are provided from its campus headquarters in Kinston, North Carolina. To learn more, visit www.flyexclusive.com.