An IPO of Flexjet is scheduled to hit the stock market in 2023. In fact, this private jet service will go public through a merger with SPAC. And there is also a prominent billionaire involved in this deal. Let’s take a closer look at the potential of Flexjet stock and learn more about a special purpose acquisition company in the process.
Background Information on Flexjet’s IPO
Flexjet offers subscription-based private jet services. For example, this includes fractional aircraft ownership, private jet charters, on-demand charters, and even full ownership opportunities for more loyal customers. It is a world leader in private aviation and now plans to go public.
Flexjet’s IPO will occur through a merger of SPAC with Horizons Acquisition Corporation II (New York Stock Exchange: HZON). Furthermore, Horizon is a “blank check” company that was created by American billionaire Todd Boehly. And you may have heard that name before. He is one of the new owners of the world famous Chelsea Football Club in London, England.
Boehly has been in the news headlines for months. due to comments about English football. But now it is attracting the attention of investors due to the IPO of Flexjet SPAC. This deal will value Flexjet at $3.1 billion, including debt, according to the Directional Aviation press release. Additionally, the plan is to list on the New York Stock Exchange (NYSE) in the second quarter of 2023. Flexjet’s shares will go public under the ticker symbol “FXJ.”
Is Flexjet a good investment?
At this time, we don’t have much information about Flexjet outside of its market offerings for private jet users. However, the press release gave us a little insight into his finances.
According to the press release linked above, Flexjet has a track record of profitable growth spanning several decades. Furthermore, it has an estimated projected revenue of $2.3 billion in 2022. Its adjusted EBITDA also comes in at $288 million by 2022. These are earnings before interest, taxes, depreciation and amortization.
As you can see, this is one of the most powerful companies in the private jet industry. And that’s one of the main reasons investors are so interested in Flexjet’s IPO.
The company plans to use the proceeds from the initial public offering to finance its fleet of aircraft, along with the expansion of its maintenance support facilities and private terminals. Flexjet is also planning a geographic expansion in the near future.
This will be huge in scope and scalability. At the moment, the company is focused on fractional ownership. In this case, customers have the opportunity to own and lease part of a jet. But this new deal will help Flexjet accelerate its growth and expand its market share rapidly.
Overall, the Flexjet IPO can be a great investment opportunity. For now, it’s important to bookmark this SPAC merger and track its progress as we approach Q2 2023.
Invest in IPO
The IPO process is difficult to fully understand for even the most experienced investors. That is why you should do your due diligence before making any investment decision.
To learn more about IPOs and other stock trends, sign up for one of the best investment newsletters. There are stock market experts who provide daily stock market insights and analysis to help you throughout your investment journey. You can use this research to better protect and improve your portfolio during a difficult market.
It is clear that Flexjet’s IPO will continue to attract a lot of attention in the coming months as more information becomes available. Until then, there are plenty of long-term opportunities to consider while stocks are low.
Corey Mann is the Content Manager at Investment U. He has over 10 years of experience as a journalist and content creator. Since 2012, Corey’s work has been featured in major publications such as the virginia pilot, the washington post, CNN, MSNBC and more. When Corey is not focused on Investment U, he enjoys traveling with his wife, going to Yankee games and spending time with his family.
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