flyExclusive, Inc. announced it has executed a waiver letter, effective immediately, to release the lock-up of 5,625,000 shares of Class A common stock and warrants to purchase 4,333,333 shares. These securities were owned by EG Sponsor LLC and its affiliates.
The lock-up had been in effect for over 18 months since the company’s merger with EG Acquisition Corp. on December 27, 2023, and was originally set to expire on December 27, 2026.
The company believes this action positions flyExclusive for inclusion in the Russell Indices, which is expected to benefit shareholders through increased volume and liquidity. CFO Brad Garner stated that this move supports the company’s capital raising efforts and aims to expand its shareholder base.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.