Acquisition timeline & regulatory clearâances
The press release states that Volato Groupâs transaction is being carried out under a definitive agreement. In practice, a definitive agreement for a publicâcompany deal in the U.S. usually targets a closing window of 30âŻââŻ45âŻbusiness days after the filing of the required FormâŻ8âK/8âA with the SEC. The filing is expected within the next week, so the earliest practical closing date would be midâlateâŻSeptemberâŻ2025.
Because the deal involves a privateâaviation technology platform (Volato) and a criticalâminerals supplyâchain business (M2i Global), the primary regulatory hurdles are:
Regulator | Likely focus | Anticipated timeline |
---|---|---|
U.S. Securities and Exchange Commission (SEC) â FormâŻ8âK/8âA filing and shareholder proxy | Disclosure of material terms, shareholder vote (if required) | 1âŻââŻ2âŻweeks to file; 10âday review period before the filing becomes effective |
U.S. Department of Transportation (DOT) / FAA (privateâaviation assets) | Potential foreignâownership or control issues, aircraft operating certificates | 2â3âŻweeks for any required notice or consent |
Committee on Foreign Investment in the United States (CFIUS) (if any foreign investors are involved) | Nationalâsecurity review of criticalâminerals supplyâchain exposure | If triggered, 30âday review (up to 75âŻdays if a âmitigationâ request is filed) |
Stateâlevel corporateârecording offices (Delaware, Nevada) | Filing of the mergerâârelated certificate of merger | 1â2âŻweeks |
Assuming no CFIUS trigger and no unexpected FAA objections, the combined regulatory clearance process should be completed within roughly 3â4âŻweeks after the SEC filing. Consequently, the transaction is expected to close by the end of SeptemberâŻ2025, give or take a few days for any minor extensions or shareholderâapproval timing.
Trading implication: With the closing window now in sight, the market will price in the spread between Volatoâs current valuation (SOAR) and the implied premium to M2i Globalâs shareholders. If the timeline holds, the spread should compress in the next 2â3âŻweeks, offering a shortâterm buyâtheârumor opportunity on SOAR if the premium is viewed as attractive, or a sellâtheânews if the spread appears already overâpriced. Keep an eye on any SEC filing updates or FAA notices that could push the closing date beyond the endâofâmonth window.