flyExclusive, Kinston-based jet charter, to become publicly traded under merger

KINSTON, N.C. (WITN) – flyExclusive, a Kinston-based private jet charter company, will become publicly traded after a merger with a global investment firm.

Under the terms of the agreement, flyExclusive and EG Acquisition Corp. will combine into a new company that is expected to be listed on the New York Stock Exchange and will adopt flyExclusive as the corporate operating brand. flyExclusive founder and CEO Jim Segrave will lead the combined company.

According to the company, the transaction, once completed, will provide flyExclusive with significant additional capital to continue its growth, better serve customers and execute its strategic plan to become the nation’s first fully vertically integrated private aviation company.

A news release said flyExclusive’s leadership team will retain control of the company, ensuring a generational company will continue to grow in Kinston.

flyExclusive recently opened a new 50,000-square-foot hangar at Kinston Regional Airport. It will be home to 16 planes and about a hundred workers, flyExclusive says its future in Kinston is just beginning.

The proposed merger is expected to be completed in the first quarter of next year.

Do you see something needing a correction? Email us!