BTIG Amends Flyexclusive Stake; Updates Ownership Disclosure

Ticker: FLYX-WT · Form: SC 13G/A · Filed: Jan 2, 2024 · CIK: 1843973

Complexity: simple

Sentiment: neutral

Topics: institutional-ownership, amendment, SC-13G/A

TL;DR

**BTIG just updated its stake in Flyexclusive, signaling a change in their position.**

AI Summary

BTIG, LLC, a financial services firm, filed an amended SC 13G/A on January 2, 2024, regarding its ownership in Flyexclusive Inc. (NASDAQ: FLYX). This filing indicates a change in their beneficial ownership of Flyexclusive's Common Shares, as it is an amendment (Amendment No. 1) to a previous filing. This matters to investors because it updates the public record on a significant institutional holder's stake, potentially signaling a shift in their investment strategy or a rebalancing of their portfolio, which could influence market perception of FLYX.

Why It Matters

This filing updates the public record on BTIG, LLC's beneficial ownership in Flyexclusive Inc., providing transparency on institutional holdings which can influence investor sentiment and stock price.

Risk Assessment

Risk Level: low — This filing is a routine update of institutional ownership and does not inherently signal high risk, though changes in ownership can have market implications.

Analyst Insight

An investor should monitor subsequent filings from BTIG, LLC or other institutional investors in Flyexclusive Inc. to understand the broader trend of institutional interest and consider how this change aligns with their own investment thesis for FLYX.

Key Numbers

Key Players & Entities

Forward-Looking Statements

FAQ

What is the purpose of this specific filing (SC 13G/A)?

This is an amendment (Amendment No. 1) to a Schedule 13G filing, indicating that BTIG, LLC is updating previously disclosed information regarding its beneficial ownership of Flyexclusive Inc.'s Common Shares, as per Rule 13d-1(b) of the Securities Exchange Act of 1934.

Who is the reporting person in this filing?

The reporting person is BTIG, LLC, a company with a Central Index Key (CIK) of 0001178937, located at 600 Montgomery Street, 6th Floor, San Francisco, CA 94111.

What company's securities are being reported on?

The securities being reported on are the Common Shares of Flyexclusive Inc., which has a Central Index Key (CIK) of 0001843973 and a CUSIP Number of 343928107.

When was this amendment filed and what is the 'Date of Event which Requires Filing'?

The filing was made on January 2, 2024, and this date also serves as the 'Date of Event which Requires Filing of this Statement', indicating the effective date of the change in ownership that triggered this amendment.

Under which rule is this Schedule 13G/A filed?

This Schedule 13G/A is filed under Rule 13d-1(b) of the Securities Exchange Act of 1934, as indicated by the checked box on the cover page.

Filing Stats: 1,003 words · 4 min read · ~3 pages · Grade level 7.7 · Accepted 2024-01-02 13:07:08

Filing Documents

From the Filing

SC 13G/A 1 formsc13ga.htm UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 1)* Flyexclusive Inc (Name of Issuer) Common Shares (Title of Class of Securities) 343928107 (CUSIP Number) (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) (Date of Event which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: Rule 13d-1(b) Rule 13d-1(c) Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 000000000 13G Page 2 of 5 Pages 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) BTIG, LLC 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a) (b) 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Maryland NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 6. SHARED VOTING POWER 0 7. SOLE DISPOSITIVE POWER 8. SHARED DISPOSITIVE POWER 0 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions) 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0 12. TYPE OF REPORTING PERSON (see instructions) BD CUSIP No. 000000000 13G Page 3 of 5 Pages Item 1. (a) Name of Issuer Flyexclusive Inc . (b) Address of Issuer’s Principal Executive Offices 2860 Jetport Road Kinston, NC 28504 Item 2. (a) Name of Person Filing BTIG, LLC (b) Address of the Principal Office or, if none, residence 600 Montgomery Street, 6 th Floor San Francisco, CA 94111 (c) Citizenship (d) Title of Class of Securities Common Shares (e) CUSIP Number 343928107 Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). CUSIP No. 000000000 13G Page 4 of 5 Pages (c) Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G); (h) A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) Group, in accordance with §240.13d-1(b)(1)(ii)(J). Item 4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 0 (b) Percent of class: 0 (c) Number of shares as to which the person has: 0 (i) Sole power to vote or to direct the vote . (ii) Shared power to vote or to direct the vote . 0 (iii) Sole power to dispose or to direct the disposition of . (iv) Shared power to dispose or to direct the disposition of 0 Instruction . For computations regarding securities which represent a right to acquire an underlying security see §240.13d-3(d)(1). Item 5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following . Instruction . Dissolution of a group requires a response to this item. Item 6. Ownership of More than Five Percent on Behalf of Another Person. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. Item 8. Identification and Classification of Members of the Group. Item 9. Notice of Dissolution of Group. Item 10. Certification. (a)

View Full Filing

View this SC 13G/A filing on SEC EDGAR

View on Read The Filing