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FlyExclusive Inc.’s stock fell 42% on Thursday as the flight-charter company began trading under the symbol FLYX on the NYSE American exchange, after closing its acquisition with blank check company EG Acquisition Corp.
The deal for FlyExclusive was initially announced on Oct. 17, 2022, with a pre-transaction equity value of $600 million at the time.
At last check, FlyExclusive’s market capitalization was $118 million, according to MarketWatch data.
FlyExclusive offers travelers fractional-ownership opportunities for light-, mid- and supermid-sized jets, along with access to a fleet of nearly 100 aircraft.
EG Acquisition Corp.
EGGF
was sponsored by EnTrust Global and GMF Capital. The blank-check company was trading under the symbol EGGF until Thursday.
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