eggfu - EGGFU STOCK NEWS

EG Acquisition Corp. (EGGF), a SPAC sponsored by EnTrust Global and GMF Capital, has filed a preliminary proxy statement with the SEC for its business combination with flyExclusive. The transaction values flyExclusive at a pre-transaction equity value of $600 million and is expected to provide up to $310 million in proceeds. EGGF founders Gary Fegel and Gregg Hymowitz will stay invested for the long-term and serve on flyExclusive's board of directors. The transaction is expected to be completed in Q3 2023.

EG Acquisition Corp. announced that starting July 16, 2021, holders of its 22.5 million IPO units can trade the Class A common stock and warrants separately on the NYSE under the symbols EGGF and EGGFW, respectively. Those who do not separate their units can continue trading under EGGFU. The Company, a blank check entity, aims to find business combinations across various sectors, leveraging the expertise of its sponsors, EnTrust Global and GMF Capital. The offering was managed by BTIG, LLC and I-Bankers Securities, Inc., with SEC registration effective from May 25, 2021.

EG Acquisition Corp. announced its initial public offering (IPO) of 22,500,000 units priced at $10 each, set to list on NYSE under ticker symbol EGGFU from May 26, 2021. Each unit consists of one Class A common stock share and one-third of a redeemable warrant, with each whole warrant exercisable at $11.50 per share. The offering is expected to close on May 28, 2021, and BTIG, LLC is serving as the book-running manager. The Company aims to find a business combination across various sectors, leveraging its sponsors' expertise.