flyExclusive Soars as It Acquires Jet.AI's Aviation Business

flyExclusive Inc. (FLYX) shares are soaring today after the company announced a definitive agreement to acquire Jet.AI Inc.'s (JTAI) aviation business in an all-stock transaction. The acquisition, expected to close in the second quarter of 2025, is a strategic move that aligns with both companies' growth plans and offers significant synergies.



The acquisition will provide flyExclusive with additional growth capital and enhanced shareholder liquidity, while transforming Jet.AI into a pure-play AI solutions company. The transaction is structured as a premium valuation, with flyExclusive paying between 115% and 120% of Jet.AI's net cash value, translating to an expected purchase price ranging from $12-22 million.



Jim Segrave, Founder and CEO of flyExclusive, commented on the transaction: "The proposed transaction with Jet.AI is the latest example of the value flyExclusive's vertically integrated private aviation platform provides to industry participants. The transaction benefits flyExclusive investors and will augment our continued growth and market share expansion as an industry leader."

Mike Winston, Founder and Executive Chairman of Jet.AI, added: "This business combination with flyExclusive offers our shareholders the opportunity to benefit from growth in both private aviation and AI. flyExclusive, the fifth-largest operator in the industry by hours flown, is a natural fit, with clear synergies given the common aircraft we operate."

The acquisition is subject to various closing conditions, including Jet.AI financing, regulatory review, and shareholder approval. To meet these conditions, Jet.AI has secured a $50 million non-binding financing term sheet with Hexstone Capital LP.



In conclusion, the acquisition of Jet.AI's aviation business by flyExclusive is a strategic move that offers significant synergies and growth opportunities for both companies. The all-stock transaction preserves flyExclusive's cash position while providing Jet.AI shareholders with continued exposure to the aviation sector. As the transaction progresses, investors should monitor the share price performance of both companies and the broader market sentiment towards private aviation and AI.