PROOF Acquisition Corp I
PACI
New York Stock Exchange14.50
USD
-5.50
- -
CIK
0001853070
ISIN
US74349W1045
CUSIP
74349W104
Return %
Stock
S&P500
1Y
42.58
18.21
3Y
47.96
63.29
5Y
47.96
74.90
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- John C. Backus Jr.
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 11911 Freedom Drive Reston VA United States of America 20190
- IPO Date
- Jan 21, 2022
- CIK
- 0001853070
- Website
- proof-paci.com
- Similar Companies
- Business
- PROOF Acquisition Corp I PROOF Acquisition Corp I is a blank check company incorporated in Delaware in 2021 and headquartered in Reston, Virginia. The company conducts no significant operations and focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses exhibiting compelling long-term growth prospects, attractive competitive dynamics, consolidation opportunities, and products or services addressing large total addressable markets; it targets sectors including enterprise software, health care, financial technology, consumer industries, and aviation, serving institutional and individual investors seeking exposure to high-potential targets with disruptive technology or business models, significant recurring revenue streams, attractive returns on invested capital, operational improvement opportunities, and strong free cash flow characteristics across the United States and potentially global regions. In December 2023, PROOF Acquisition Corp I completed a $261 million business combination with Volato, Inc., a private aviation operator, following shareholder approval on November 28, 2023; concurrent with the merger closing, it secured an additional $12 million in private investments plus $14 million in prior Series A preferred equity financing converted to common stock, alongside Volato convertible debt conversion, yielding over $60 million in total capital raised, after which the combined entity delisted PACI shares from the NYSE and began trading on NYSE American under the Volato brand and ticker symbols SOAR and SOAR.WS.
Volato Announces Closing of Business Combination with PROOF Acquisition Corp I; Secures Additional Equity Financing
PROOF Acquisition Corp I Announces Intention to Transfer to NYSE American LLC Upon Completion of Business Combination with Volato
PROOF Acquisition Corp I Stockholders Approve Previously Announced Business Combination with Volato
PROOF Acquisition Corp I Announces Filing of Definitive Proxy Statement and Sets Nov. 28, 2023, for Special Meeting of Stockholders to Vote on Merger