Volato to acquire M2i Global, terms undisclosed

Volato (SOAR) and M2i Global (MTWO) announced the signing of a non-binding term sheet under which M2i Global will be acquired by Volato. Upon completion of the acquisition, M2i Global will receive common shares of Volato stock such that M2i Global will own approximately 90% of the total issued and outstanding shares of common stock of Volato on an as-converted and fully diluted basis and the current shareholders of Volato will own approximately 10% of the total issued and outstanding shares of Volato common stock on an as-converted and fully diluted basis. Following closing, Alberto Rosende will assume the role of CEO of Volato. Matt Liotta will continue to serve on the board of the combined company and will lead the aviation and software operating unit as president, supported by a growth-focused budget and potential spin-out opportunity. Mark Heinen shall remain as CFO of the combined company. The combined company will pursue listing on the NYSE American and is expected to consolidate key business lines while preserving management continuity and operational momentum. M2i Global brings high-value relationships, including: an exclusive offtake agreement with NT Minerals valued at approximately $850M; partnerships across battery recycling, cathode material manufacturing, and brownfield mining; and a seasoned leadership and advisory team with proven public market and government execution. The closing of the transaction is subject to customary closing conditions, including approval of the transaction by the shareholders of both Volato and M2i Global.