SOAR AI (SOAR) Registration Filing summary

Company overview and business model

• Operates in private aviation, offering aircraft ownership programs, charter flights, and management services, with a focus on proprietary aviation software and new technology for aircraft-based cryptocurrency mining.

• Transitioned fleet operations management to flyExclusive in September 2024 to reduce costs and focus on high-growth areas like aircraft sales and software.

• Plans to continue aircraft deliveries, including three Gulfstream G280s in 2025, and generate revenue from software and aircraft sales margins.

Financial performance and metrics

• Received $4,050,000 in gross proceeds from the First Tranche Note and expects $1,350,000 from the Second Tranche Note, both with a 10% original issue discount.

• Common stock traded on NYSE American under the symbol "SOAR"; last reported sale price was $0.2297 per share on January 10, 2025.

• As of January 13, 2025, 45,900,553 shares outstanding; up to 131,198,964 shares may be outstanding after the offering.

Use of proceeds and capital allocation

• Net proceeds from the First and Second Tranche Notes are allocated for general corporate and working capital purposes, with management retaining broad discretion over their use.

• Will not receive proceeds from the resale of shares by the selling stockholder.