PROOF Acquisition Corp I completed its merger with Volato, Inc., changing its name to Volato Group, Inc. in the process. The merger resulted in the conversion of shares of Volato common stock and preferred stock into shares of Volato Group common stock. Volato also closed an additional financing round, raising $10.4 million through the sale of Series A-1 Preferred Stock. The company reported a net loss of $29.2 million for the nine months ended September 30, 2023.