What is the expected timeline for the transformational merger and what regulatory or shareholder approvals are required?

Expected timeline

Volato’s press release says the “transformational merger” with M2i Global is slated to close later in 2025 – the company has already moved the deal forward through the second quarter and is now targeting a Q4‑2025 closing (i.e., before the year‑end shareholder meeting of M2i Global). The timeline is consistent with a typical 6‑ to 9‑month window after a definitive agreement is signed, allowing time for due‑diligence, filing, and the required approvals.

Regulatory and shareholder approvals required

1. SEC review – Both companies must file a Form 8‑K (or a similar merger‑related filing) and a joint proxy statement/prospectus with the U.S. Securities and Exchange Commission. The SEC must clear the registration statement before the merger can be consummated.

2. Exchange and FINRA clearance – Because Volato trades on NYSE American (SOAR) and M2i Global is an OTC‑listed security (MTWO), the merger will need approval from the NYSE American and FINRA to ensure the combined entity meets listing standards and market‑making rules.

3. State‑level corporate filings – The merger will be recorded with the state of incorporation for each company (typically Delaware), which is a routine procedural step.

4. Shareholder approval – The definitive merger agreement will require a majority‑vote of each company’s outstanding shares at their respective upcoming annual or special meetings. Proxy statements are expected to be mailed in the next 30 days, with the actual shareholder vote projected for the late‑2025 annual meeting (likely in November‑December).

Trading implications

Until the SEC registration statement is declared effective and the proxy votes are secured, the merger remains a “conditional” event and the market will price in the probability of those approvals. If the filings are smooth and the shareholder vote looks likely to pass (e.g., a high‑percentage of “for” votes in prior proxy history), the spread between SOAR and MTWO should compress, creating a bullish catalyst for both tickers. Conversely, any delay in the SEC filing, a negative proxy vote, or a request for additional antitrust review would trigger a sell‑off and heightened volatility.

Actionable take‑away

- Monitor the SEC’s “effectiveness” filing in the next 2‑3 weeks; a clearance signals the merger is on track for a Q4 close.

- Watch proxy‑statement filings and shareholder vote trends (e.g., 13‑D or 13‑G filings) as the annual meeting approaches.

- If approvals appear likely, consider a long‑position in SOAR on any pull‑back, with a modest stop‑loss around the recent low‑volatility support (≈ $0.70‑$0.72).

- If there are signs of a regulatory or shareholder hurdle (e.g., a SEC comment letter, a low “for” vote in early proxy filings), trim exposure or hedge the position, as the merger risk premium could be priced out.