FLexJet to go public with Horizon Acquisition valued at $3.1bn

Flexjet will go public through a merger with special purpose acquisition company (SPAC) Horizon Acquisition in a deal that values Flexjet at $3.1bn. The deal is expected to close by the Q2 of 2023, FlexJet will be listed on the New York Stock Exchange (NYSE) under the ticker symbol “FXJ.” The companies said the deal is backstopped with a common equity capital commitment of up to $300 million from Eldridge Industries and Horizon’s sponsor. Transaction proceeds are expected to fund Flexjet’s fleet, program, and geographic expansion, as well as significant infrastructure expansion, including maintenance support facilities and private terminals Flexjet