WSJ News Exclusive | FlyExclusive Strikes SPAC Deal to Go Public at $600 Million Valuation

On-demand private-jet provider flyExclusive has struck a deal to go public through a merger with a special-purpose acquisition company

that would value the combined entity at $600 million.

The Kinston, N.C., business is set to merge with EG Acquisition Corp. , a SPAC led by Gregg Hymowitz, chairman and chief executive of investment firm EnTrust Global, officials with the companies said. The SPAC, which is also backed by Gary Fegel’s private-investment platform GMF Capital, raised $225 million through an initial public offering in late May of 2021.

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