Volato Group S-1/A: Revenue and Receivables Update

TL;DR

Volato Group S-1/A: $13.9M Q1 revenue, $2.2M total receivables. IPO details coming.

AI Summary

Volato Group, Inc. filed an S-1/A amendment on May 23, 2024, detailing its financial position. As of March 31, 2024, the company reported $1.1 million in receivables from related parties and $1.1 million in receivables from non-related parties. For the three months ended March 31, 2024, Volato Group generated $13.9 million in revenue.

Why It Matters

This filing provides investors with updated financial figures for Volato Group, Inc., offering insights into their revenue generation and outstanding receivables as of early 2024.

Risk Assessment

Risk Level: medium — The filing is an amendment to an S-1, indicating ongoing preparations for an IPO, which inherently carries market and execution risks.

Key Numbers

• $13.9M — Q1 2024 Revenue (Indicates top-line performance in the first quarter.)
• $1.1M — Receivables from Related Parties (Q1 2024) (Shows amounts owed by affiliated entities.)
• $1.1M — Receivables from Non-Related Parties (Q1 2024) (Shows amounts owed by external customers.)

Key Players & Entities

• Volato Group, Inc. (company) — Filer of the S-1/A
• 20240523 (date) — Date of filing
• $1.1 million (dollar_amount) — Receivables from related parties as of March 31, 2024
• $1.1 million (dollar_amount) — Receivables from non-related parties as of March 31, 2024
• $13.9 million (dollar_amount) — Revenue for the three months ended March 31, 2024

FAQ

Key Financial Figures

• $1.46 — mon Warrants"), at an exercise price of $1.46 per share (representing 100% of the ass
• $0 — Stock to be sold in this offering minus $0.0001, the exercise price per share of C
• $15,000,000 — aid by investors in this offering up to $15,000,000 and, a cash fee equal to six percent (6
• $125,000 — lated legal expenses in an amount up to $125,000 and pay the placement agent a non-accou
• $25,000 — a non-accountable expense allowance of $25,000. See "Plan of Distribution" beginning o
• $13.2 million — include: We generated total revenue of $13.2 million a decrease of $2.5 million, or 16%, com
• $2.5 m — revenue of $13.2 million a decrease of $2.5 million, or 16%, compared to the three mo
• $4.8 m — evenue from aircraft usage increased by $4.8 million, or 72%, while revenue from plane
• $5.7 m — e revenue from plane sales decreased by $5.7 million, during the three months ended Ma
• $17.4 million — year growth; We incurred a net loss of $17.4 million for the three months ended March 31, 20
• $9.9 million — hs ended March 31, 2024, representing a $9.9 million increase in loss over the prior year pr
• $13.1 million — ss; and Adjusted negative EBITDA 1 was $13.1 million for the three months ended March 31, 20
• $6.7 million — compared to adjusted negative EBITDA of $6.7 million for the same period last year. 1 Adj
• $73.3 million — , 2023: We generated total revenue of $73.3 million a decrease of $23.4 million, or 24%, co
• $23.4 m — revenue of $73.3 million a decrease of $23.4 million, or 24%, compared to the year end

Filing Documents

• ny20027378x3_s1a.htm (S-1/A) — 3926KB
• ny20027378x3_ex1-1.htm (EX-1.1) — 71KB
• ny20027378x3_ex4-3.htm (EX-4.3) — 99KB
• ny20027378x3_ex4-4.htm (EX-4.4) — 84KB
• ny20027378x3_ex4-5.htm (EX-4.5) — 283KB
• ny20027378x3_ex4-6.htm (EX-4.6) — 30KB
• ny20027378x3_ex5-1.htm (EX-5.1) — 12KB
• ny20027378x3_ex23-1.htm (EX-23.1) — 2KB
• ny20027378x3_ex107.htm (EX-FILING FEES) — 31KB
• logo_rsjllp.jpg (GRAPHIC) — 28KB
• logo_volato.jpg (GRAPHIC) — 25KB
• ny20027378x3_ex5-1img01.jpg (GRAPHIC) — 362KB
• ny20027378x3_ex5-1img02.jpg (GRAPHIC) — 476KB
• ny20027378x3_ex5-1img03.jpg (GRAPHIC) — 295KB
• ny20027378x3_graphic1.jpg (GRAPHIC) — 171KB
• ny20027378x3_graphic2.jpg (GRAPHIC) — 161KB
• ny20027378x3_graphic3.jpg (GRAPHIC) — 86KB
• ny20027378x3_graphic4.jpg (GRAPHIC) — 88KB
• ny20027378x3_graphic5.jpg (GRAPHIC) — 94KB
• ny20027378x3_graphic6.jpg (GRAPHIC) — 292KB
• ny20027378x3_graphic7.jpg (GRAPHIC) — 286KB
• ny20027378x3_graphic8.jpg (GRAPHIC) — 304KB
• sig_rosesnyderjacobs.jpg (GRAPHIC) — 16KB
• 0001140361-24-027317.txt ( ) — 25730KB
• soar-20240523.xsd (EX-101.SCH) — 135KB
• soar-20240523_cal.xml (EX-101.CAL) — 107KB
• soar-20240523_def.xml (EX-101.DEF) — 867KB
• soar-20240523_lab.xml (EX-101.LAB) — 1168KB
• soar-20240523_pre.xml (EX-101.PRE) — 1208KB
• ny20027378x3_s1a_htm.xml (XML) — 2397KB

USE OF PROCEEDS

USE OF PROCEEDS 29 DIVIDEND POLICY 29 CAPITALIZATION 30

BUSINESS

BUSINESS 32 CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS 62 DIRECTORS AND MANAGEMENT 67

DESCRIPTION OF CAPITAL STOCK

DESCRIPTION OF CAPITAL STOCK 87

DESCRIPTION OF SECURITIES WE ARE OFFERING

DESCRIPTION OF SECURITIES WE ARE OFFERING 93 PRINCIPAL STOCKHOLDERS 96 MATERIAL UNITED STATES FEDERAL INCOME TAX CONSIDERATIONS 97 PLAN OF DISTRIBUTION 102 LEGAL MATTERS 105 EXPERTS 105 WHERE YOU CAN FIND MORE INFORMATION 105 INDEX TO FINANCIAL STATEMENTS F- 1 i TABLE OF CONTENTS ABOUT THIS PROSPECTUS You should rely only on the information contained in this prospectus, any amendment or supplement to this prospectus, and any related free writing prospectus prepared by or on behalf of us or to which we have referred you. Neither we nor any of the placement agents have authorized anyone to provide you with information that is different from, or in addition to, that contained in this prospectus, any amendment or supplement to this prospectus and any related free writing prospectus prepared by or on behalf of us or to which we have referred you. We and the placement agents take no responsibility for, and can provide no assurance as to the reliability of, any other information that others may give you. This prospectus is not an offer to sell, nor is it seeking an offer to buy, these securities in any jurisdiction where the offer or sale is not permitted. You should assume that the information appearing in this prospectus or any prospectus supplement is accurate only as of the date on the front of those documents only, regardless of the time of delivery of this prospectus or any applicable prospectus supplement, or any sale of the securities offered hereby. Our business, financial condition, results of operations and prospects may have changed since those dates. Neither we nor any of the placement agents have taken any action that would permit this offering or possession or distribution of this prospectus in any jurisdiction where action for that purpose is required, other than in the United States. Persons outside the United States who come into possession of this prospectus must inform themselves about, and observe any restrictio

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View this S-1/A filing on SEC EDGAR