EG Acquisition Corp. (EGGF) Completes flyExclusive Deal

EG Acquisition Corp. (NYSE:EGGF) announced this afternoon that it has closed its combination with private aviation firm flyExclusive.

The SPAC initially had a meeting slated for today for shareholders to approve an extension that would have pushed its completion deadline to January 28. However, it appears EG did not need the extra time to finalize its deal with flyExclusive and consequently canceled the meeting. Shareholders previously approved the deal on December 18.

EG still has not yet divulged its redemption figures in connection with the completion vote, but it had about $43.3 million in trust going into it, having seen 81% redeemed in a May extension.

Beginning on December 28, the combined company’s common stock is expected to begin trading on the NYSE American under the new ticker symbol “FLYX”.

The two sides initially announced their $600 million combination in November 2022. Kinston, North Carolina-based flyExclusive is an owner and operator of a private jet flight network with a floating fleet of about 100 light to heavy jets.