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Stock impact report

flyExclusive Announces $25 Million Preferred Equity Investment; Reports First Quarter 2024 Financial Results

flyExclusive, Inc. (FLYX) 
Company Research Source: Business Wire
KINSTON, N.C.--(BUSINESS WIRE)--flyExclusive, Inc. (NYSEAMERICAN: FLYX) (“flyExclusive” or the “Company”), a publicly-traded provider of premium private jet charter experiences, today announced a $25 million preferred equity investment and first quarter 2024 results.Preferred Equity InvestmentThe Company has entered into a securities purchase agreement dated August 8, 2024 with an investment vehicle managed by EnTrust Global (“the Initial Investor”) and EG Sponsor LLC (“EG Sponsor” and, together with the Initial Investor, the “Investors”) pursuant to which the Investors agreed to purchase 25,510 shares of Series B Convertible Preferred Stock, par value of $0.0001 per share, at a purchase price of $1,000 per share.“This equity investment represents a significant milestone in our strategic plan to upgrade and increase the size of our fleet,” said Jim Segrave, Founder and CEO of flyExclusive. “The Investors have been exceptional partners and their commitment to flyExclusive will allo Show less Read more
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