Congratulations to Womble Bond Dickinson client Volato! The private aviation company announced a merger with special purpose acquisition company PROOF Acquisition Corp. I (PACI) that will enable Volato to become a public company.
Womble Bond Dickinson Partners Reid Avett and Damian Georgino, with significant assistance from associates Jake Rifkin and Shelby Martin counseled Volato in this transaction. Others assisting the team included Jane Jeffries Jones, Jan Baldwin, Jeff Lawyer, Matt Homan, and Rajiv Radia.
The merger will provide the company access to additional funds to facilitate growth, better serve customers, and accelerate its strategic plan. The combined company will continue to use the “Volato” name.
Volato offers a number of services in the private aviation sector, including fractional aircraft ownership, fleet management, and on-demand charter operations. The company generated nearly $100 million in FY2022.