SCHEDULE 13D/A: Third Point LLC Updates Stake in flyExclusive, Inc. to 6.8% Following 10-K Filing
Beneficial Ownership Update
Third Point LLC and Daniel S. Loeb have filed an Amendment No. 1 to their Schedule 13D, updating their beneficial ownership in flyExclusive, Inc. to 6.8% of Class A common stock, reflecting changes in outstanding shares reported in the Issuer's recent 10-K.
Summary
- Third Point LLC and Daniel S. Loeb (the "Reporting Persons") filed an Amendment No. 1 to their Schedule 13D regarding their beneficial ownership in flyExclusive, Inc.
- The amendment updates their reported beneficial ownership to an aggregate of 1,389,499 shares of Class A Common Stock.
- This stake comprises 1,022,000 shares of Class A Common Stock directly held and 367,499 shares issuable upon the exercise of warrants.
- The total beneficial ownership represents approximately 6.8% of flyExclusive, Inc.'s Class A Common Stock outstanding.
- The percentage calculation is based on 20,199,586 shares of Class A Common Stock outstanding as of March 14, 2025, as reported in the Issuer's annual report on Form 10-K for the fiscal year ended December 31, 2024, plus the 367,499 warrant shares.
- The primary purpose of this amendment is to reflect changes in the number of outstanding shares of the Issuer's Class A Common Stock as reported in the Issuer's 10-K filed on March 24, 2025.
- The Reporting Persons have not effected any transactions in flyExclusive, Inc. Class A Common Stock during the past sixty days, inclusive of any transactions effected through 4:30 p.m., New York City time, on March 26, 2025.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing (Schedule 13D Amendment) updating beneficial ownership percentage due to changes in the issuer's reported outstanding share count, not reflecting a positive or negative event or investment decision by the reporting person.
Future Outlook
NA
Industry Context
NA
Key Dates
| Date | Description |
|---|---|
| 2024-02-09 | Date of Power of Attorney granted by Third Point LLC and Daniel S. Loeb to Jana Tsilman and Joshua L. Targoff, incorporated by reference. |
| 2024-02-13 | Original Schedule 13D filed by Third Point LLC and Daniel S. Loeb with the SEC. |
| 2025-03-14 | Date as of which 20,199,586 shares of Class A Common Stock were outstanding, as reported in the Issuer's 10-K. |
| 2025-03-24 | Date of event requiring filing of this statement; Issuer's annual report on Form 10-K for fiscal year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission. |
| 2025-03-26 | Date of signing of Amendment No. 1 to Schedule 13D; also the cutoff for reporting transactions in the past sixty days. |
Keywords
flyExclusive Inc., Third Point LLC, Daniel S. Loeb, Schedule 13D, Beneficial Ownership, Class A Common Stock, SEC Filing, 10-K, Warrants, Institutional Investor
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