Investing.com -- Volato Group Inc (NYSE:SOAR) stock jumped 7.9% on Tuesday after the company announced it would pause its at-the-market equity offering program through June 30, 2026.
The decision reflects Volato’s current liquidity position and removes what the company described as an "unnecessary overhang" on the stock. Management indicated they do not anticipate utilizing the ATM during this period as they focus on executing near-term operational milestones.
"Volato is not reliant on opportunistic equity issuance to fund operations," said Matt Liotta, Chief Executive Officer of Volato. "Pausing the ATM underscores our confidence in the Company’s balance sheet, our execution plan, and the value we are building. We believe this action better aligns with our commitment to long-term shareholders as we continue to make progress across the business."
The company noted that it retains flexibility to resume the ATM program prior to June 30, 2024, or at a later date, should market conditions and strategic priorities warrant such action.
During the pause period, Volato plans to focus on disciplined execution, advancing core initiatives, and delivering operational results intended to support sustained growth and improved market confidence.
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