Volato’s Compliance Plan Approved by NYSE American
Volato Group, Inc. (NYSE American: SOAR) has announced that the NYSE American LLC has accepted its compliance plan, allowing the company to continue its listing on the exchange.
On June 18, 2024, Volato received notice from the NYSE American indicating non-compliance with listing standards related to stockholders’ equity. Specifically, Volato was not meeting the required equity thresholds set forth in Sections 1003(a)(i) and 1003(a)(ii) of the NYSE American Company Guide.
To address this, Volato submitted a compliance plan by the July 18, 2024, deadline, outlining steps to meet the listing requirements by December 18, 2025. On September 5, 2024, the NYSE American confirmed the acceptance of this plan and granted Volato until December 18, 2025, to achieve compliance. The company will undergo quarterly reviews during this period to assess progress. Failure to meet the standards or make sufficient progress may lead to delisting proceedings.
Volato’s stock will remain listed on the NYSE American throughout the plan period, and the notification does not affect the company’s operations or SEC reporting requirements.
There is no guarantee that Volato will meet the compliance requirements or make satisfactory progress. Future developments may impact the company’s ability to regain compliance or adhere to other NYSE American standards.
Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements regarding Volato’s plans and expectations. These statements involve risks and uncertainties that could cause actual results to differ materially. For more details on risks and uncertainties, refer to Volato’s Annual Report on Form 10-K and other SEC filings. Volato does not undertake to update these forward-looking statements.