FlyExclusive Inc. Goes Public; Stock Debuts on the NYSE as “FLYX”

(New York City) Shares of private jet charter operator flyExclusive Inc. (Direxion Airline Shares) began trading on the New York Stock Exchange under the ticker “FLYX” this morning; shares traded in the range of $4.91 to $7.16 intraday, down from the opening price of $10.78.

Photo courtesy of flyExclusive on LinkedIn.

flyExclusive and Special Purpose Acquisition Company (SPAC) EG Acquisition Corp. (NYSE: EGGF) announced the completion of their previously announced business combination yesterday, on December 27th; upon completion, the combined company was renamed flyExclusive, Inc.

“With immense pride, I am thrilled to announce that flyExclusive has achieved a significant milestone by becoming a publicly traded company on the New York Stock Exchange” said flyExclusive Founder, Chairman and CEO Jim Segrave in a post on LinkedIn. “This accomplishment stands as a testament to our dedicated team, loyal customers, and the unwavering support that has fueled our journey. As we embrace this new era, we are committed to maintaining the highest standards of excellence and providing continued value to our shareholders and the private aviation community we serve.”

In a December 27th press release from flyExclusive, Gary Fegel, founder of GMF Capital and Chairman of EG Acquisition Corp., said "We believe flyExclusive’s differentiated model and track record of performance, combined with our investment and the continued acceleration of the private aviation market, will allow flyExclusive to extend their leadership position and deliver shareholder value, and we are looking forward to seeing what they can accomplish in this new phase of the company’s existence."

** update at 16.26.00EST (4:26 pm EST): FLYX shares closed at $6.85 today (on their first day trading).

*** Not investment advice; The FLY Report is not a registered investment advisor.