proof acquisition corp i is a blank check company incorporated as a delaware corporation for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout our prospectus as our initial business combination. as of the date of our initial public offering (“ipo”), our efforts have been limited to organizational activities as well as activities related to the ipo. we have not selected any business combination target and as of the date of our ipo, we have not, nor has anyone on our behalf initiated any substantive discussions, directly or indirectly, with any business combination target. we have generated no operating revenues to date and we do not expect that we will generate operating revenues until we consummate our initial business combination. our objective is to identify and merge with a business that has the potential to achieve sustainable growth
Company profile
Ticker
SOAR, PACI-WT, PACI-UN, PACI
Exchange
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
PROOF Acquisition Corp I
SEC CIK
Corporate docs
Subsidiaries
Volato Group, Inc. • Volato, Inc. • Fly Vaunt, LLC • Gulf Coast Aviation, Inc. • G C Aviation, Inc. ...
IRS number
862707040
SOAR stock data
Latest filings (excl ownership)
8-K
Departure of Directors or Certain Officers
24 Apr 24
424B3
Prospectus supplement
19 Apr 24
424B3
Prospectus supplement
17 Apr 24
EFFECT
Notice of effectiveness
17 Apr 24
S-1/A
IPO registration (amended)
2 Apr 24
10-K
2023 FY
Annual report
26 Mar 24
8-K
Volato Reports Fourth Quarter and Full Year 2023 Results
26 Mar 24
8-K
Departure of Directors or Certain Officers
21 Mar 24
8-K
Regulation FD Disclosure
21 Feb 24
S-1/A
IPO registration (amended)
9 Feb 24
Latest ownership filings
4
Steve Drucker
19 Apr 24
3
Steve Drucker
19 Apr 24
4
Matthew Liotta
2 Apr 24
SC 13G/A
Vellar Opportunities Fund Master, Ltd.
14 Feb 24
SC 13G/A
Radcliffe Capital Management, L.P.
14 Feb 24
SC 13G
CALAMOS INVESTMENT TRUST/IL
14 Feb 24
SC 13G/A
HIGHBRIDGE CAPITAL MANAGEMENT LLC
7 Feb 24
3/A
Keith Rabin
30 Jan 24
3/A
Matthew Liotta
30 Jan 24
3/A
Mike Nichols
30 Jan 24
Financial summary
Quarter (USD) | Sep 23 | Jun 23 | Mar 23 | Dec 22 | |
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Change in cash | |||||
Diluted EPS |
Annual (USD) | Dec 22 | Dec 21 | |
---|---|---|---|
Revenue | |||
Cost of revenue | |||
Operating income | |||
Operating margin | |||
Net income | |||
Net profit margin | |||
Cash on hand | |||
Change in cash | |||
Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 489.59 k | 489.59 k | 489.59 k | 489.59 k | 489.59 k | 489.59 k |
Cash burn (monthly) | 513.31 k | 86.02 k | 763.04 k | (no burn) | 406.65 k | 182.81 k |
Cash used (since last report) | 3.51 mm | 587.47 k | 5.21 mm | n/a | 2.78 mm | 1.25 mm |
Cash remaining | -3.02 mm | -97.88 k | -4.72 mm | n/a | -2.29 mm | -758.87 k |
Runway (months of cash) | -5.9 | -1.1 | -6.2 | n/a | -5.6 | -4.2 |
Institutional ownership, Q2 2023
36.2% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 52 |
Opened positions | 18 |
Closed positions | 35 |
Increased positions | 2 |
Reduced positions | 28 |
13F shares | Current |
---|---|
Total value | 1.41 bn |
Total shares | 10.59 mm |
Total puts | 449.92 k |
Total calls | 412.17 k |
Total put/call ratio | 1.1 |
Largest owners | Shares | Value |
---|---|---|
Periscope Capital | 1.34 mm | $101.54 mm |
Gritstone Asset Management | 950.00 k | $68.88 mm |
Calamos Advisors | 750.00 k | $57.64 mm |
Cubist Systematic Strategies | 589.60 k | $42.75 mm |
Aristeia Capital | 475.00 k | $36.50 mm |
Verition Fund Management | 472.77 k | $34.32 mm |
Castle Creek Arbitrage | 449.75 k | $32.61 mm |
GS Goldman Sachs | 431.16 k | $31.26 mm |
Polar Asset Management Partners | 375.00 k | $27.19 mm |
Linden Advisors | 350.00 k | $26.92 mm |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
28 Mar 24 | Liotta Matthew | Common Stock | Buy | Acquire P | No | No | 3.5267 | 3,000 | 10.58 k | 4,791,217 |
28 Mar 24 | Steve Drucker | Common Stock | Option exercise | Acquire M | No | No | 0.14 | 2,000 | 280.00 | 2,000 |
28 Mar 24 | Steve Drucker | Employee Stock Option Common Stock | Option exercise | Acquire M | No | No | 0.14 | 2,000 | 280.00 | 218,352 |
1 Dec 23 | PROOF Acquisition Sponsor I | Class A Common Stock | Conversion | Acquire C | No | No | 0 | 5,507,813 | 0.00 | 5,507,813 |
1 Dec 23 | PROOF Acquisition Sponsor I | Class B Common Stock Class A Common stock | Conversion | Dispose C | No | No | 0 | 5,507,813 | 0.00 | 1,407,600 |
Press releases
Volato Announces Changes to Board Composition
24 Apr 24
Volato Reports Operational KPIs for the First Quarter 2024
18 Apr 24
Volato Releases World-Class Net Promoter Score as Commitment to Continuous Improvement
10 Apr 24
Volato Announces Date for Fourth Quarter and Full Year 2023 Earnings Call
19 Mar 24
Volato Launches Integrated App Personalizing the Private Aviation Experience
14 Mar 24