PROOF Acquisition Corp I
PACI-UN
New York Stock Exchange17.82
USD
-2.18
- -
CIK
0001853070
Return %
Stock
S&P500
1Y
75.05
18.21
3Y
77.49
63.29
5Y
77.49
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
- Dec 1, 2021
- CIK
- 0001853070
- Website
- proof-paci.com
- Similar Companies
- Business
- PROOF Acquisition Corp I (NYSE: PACI-UN) operates as a blank check company whose principal business activity centers on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, targeting companies with sustainable growth potential and large addressable markets, particularly in sectors including enterprise software, healthcare, financial technology and consumer industries; it offers no current products or services beyond its SPAC structure of Class A common stock, redeemable warrants and private placement warrants. Incorporated in Delaware in March 2021 and headquartered at 11911 Freedom Drive, Suite 1080, Reston, Virginia, USA, the company concentrates on targets exhibiting compelling long-term growth prospects, attractive competitive dynamics, consolidation opportunities and disruptive technology or business models with recurring revenue streams, attractive margins and free cash flow characteristics, with geographic operations centered in the United States and no subsidiaries or parent relationships reported. In its most significant recent development, PROOF Acquisition Corp I completed a business combination with Volato, Inc., a private aviation company offering fractional ownership, aircraft management, jet card, deposit and charter programs utilizing a HondaJet fleet, on December 1, 2023 following shareholder approval on November 28, 2023; concurrent with the closing, the company secured an additional $12 million in private investments alongside $14 million in prior Series A Preferred Equity financing since July 2023 and Volato convertible debt conversions, yielding over $60 million in total new capital, after which the combined entity rebranded as Volato, Inc., trading as SOAR on NYSE American with delisting from NYSE, while PACI units reflect the legacy structure.