Shares of Volato Group Inc. (AMEX:SOAR) rose by as much as 20% on Tuesday after the company revealed a definitive agreement to acquire M2i Global Inc. (USOTC:MTWO), a firm focused on developing critical mineral supply chains.
This acquisition marks a major transformation for Volato, shifting it from a private aviation company into a multifaceted industrial platform. The expanded focus will span from aviation technology to essential critical minerals that support U.S. defense and infrastructure. According to the agreement, M2i Global shareholders will hold roughly 85% of the merged company, while existing Volato shareholders will retain around 15%.
The deal does not require any cash outlay from Volato, and based on current market valuations, the structure offers added value to Volato shareholders. Meanwhile, the acquisition gives M2i Global a path to public markets via a listing on the NYSE American.
As part of the leadership changes, Volato CEO Matt Liotta will move into the role of president of aviation technology operations. Major General (Ret.) Alberto Rosende is set to lead the combined company as CEO. Mark Heinen will continue as CFO, and Mike Prachar will remain COO.
“This transaction brings those capabilities to a new platform with significant upside, and we’re confident in our ability to help accelerate growth and deliver value in the public markets,” said Liotta.
The combined company will operate two primary business lines—critical minerals infrastructure and aviation software. In Q1 2025, Volato reported $25.5 million in revenue and $0.5 million in net income from continuing operations. The company anticipates Q2 2025 revenue of about $25 million, with net income expected to land between $3 million and $4 million.
M2i Global enhances the platform with key partnerships, including an exclusive offtake agreement with NT Minerals Limited for 88,000 tonnes of copper—an amount valued at roughly $850 million at current prices.
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