EG Acquisition Corp. Shareholders Approve flyExclusive Acquisition; SPAC Merger and IPO Delayed
The final step of the EG-flyExclusive merger and initial public offering on the New York Stock Exchange has been delayed due to an ongoing review by the NYSE American LLC of its listing application.
(New York & Kinston, North Carolina; December 19, 2023) EG Acquisition Corp. (NYSE: EGGF), a Special Purpose Acquisition Company (SPAC) sponsored by EnTrust Global and GMF Capital, announced yesterday both that its stockholders voted in favor of its business combination with private jet charter operator LGM Enterprises, d/b/a flyExclusive, and that the final step of its merger and initial public offering on the New York Stock Exchange (NYSE) has been delayed due to an ongoing review of its listing application by the NYSE American LLC.
Photo courtesy of flyExclusive.
Approximately 97% of the shares that voted on the Business Combination voted in favor of it, representing approximately 90% of the outstanding shares of EG’s common stock, according to a press release from EG Acquisition Corp.
EG’s previously announced annual meeting to consider and vote on a proposal to extend the date by which it must consummate an initial business combination was postponed from 12pm EST on December 22, 2023 to 1pm EST on December 27, 2023.
EG Acquisition Corp. and flyExclusive initially announced their definitive business combination agreement on October 17, 2022.
Flyexclusive is the fifth-largest private jet charter in North America, according to ARGUS Traqpak data.
** Not investment advice; The FLY Report is not a registered investment advisor.
