Volato Group, Inc. (AMEX:SOAR) shares are trading higher Monday after the company announced that the U.S. Securities and Exchange Commission declared effective its Form S-4 registration statement related to its proposed merger with M2i Global.

Merger Advances Toward Shareholder Vote

Volato said the SEC's declaration advances the proposed transaction into the shareholder approval and closing phases.

The company expects to hold a special meeting of shareholders on May 7, 2026, with shareholders of record as of April 17, 2026 eligible to vote on the deal.

Volato is also moving forward with distributing the definitive proxy statement/prospectus to shareholders in the coming days, outlining details of the proposed transaction, including voting procedures, risk factors and financial disclosures.

Late-May Close Targeted

The company indicated the merger is targeting a late-May closing, pending shareholder approval.

Volato said the combination is expected to bring together its aviation technology and software capabilities with M2i Global's platform focused on critical minerals and supply chain resilience, creating a diversified public company with multiple avenues for revenue expansion and operational leverage.

Executives said the SEC milestone provides greater clarity on timing and allows both companies to focus on execution and closing the transaction.

Volato Shares Rise

SOAR Price Action: At the time of writing, Volato shares are trading 11.55% higher at 31 cents, according to data from Benzinga Pro.

This illustration was generated using artificial intelligence via Midjourney.