Form 4: Red Oak Partners Converts Non-Voting Stock to Common Stock in Global Crossing Airlines Group Inc.

Red Oak Partners, LLC, through its affiliated funds, converted Class B Non-Voting Common Stock into Common Stock of Global Crossing Airlines Group Inc. on March 20, 2025.

Summary

• On March 20, 2025, Red Oak Partners, LLC, through The Red Oak Fund, LP and The Red Oak Long Fund, L.P., converted Class B Non-Voting Common Stock into Common Stock of Global Crossing Airlines Group Inc.
• The Red Oak Fund, LP converted 787,521 shares of Class B Non-Voting Common Stock into Common Stock.
• The Red Oak Long Fund, L.P. converted 412,479 shares of Class B Non-Voting Common Stock into Common Stock.
• Following the transaction, The Red Oak Fund, LP beneficially owns 6,317,019 shares of Common Stock indirectly.
• Following the transaction, The Red Oak Long Fund, L.P. beneficially owns 3,308,648 shares of Common Stock indirectly.
• David Sandberg is the managing member of Red Oak Partners, LLC and the portfolio manager for both The Red Oak Fund, LP and The Red Oak Long Fund, L.P.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing detailing a stock conversion. It doesn't inherently convey strong positive or negative sentiment, but the conversion itself could be seen as a neutral to slightly positive sign of confidence.

Positives

• The conversion of non-voting stock to common stock could simplify the company's capital structure.

Risks

• The warrants held by The Red Oak Fund, LP and The Red Oak Long Fund, L.P. may not be exercised if it would result in beneficial ownership exceeding 4.99% of the outstanding common stock.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders and significant shareholders. This filing indicates activity by a major shareholder in Global Crossing Airlines Group Inc.

Stakeholder Impact

• The conversion of stock may have a minor impact on shareholders by slightly increasing the number of outstanding common shares.

Key Dates

Keywords

Common Stock, Red Oak Partners, Global Crossing Airlines Group Inc., Conversion, Non-Voting Stock, Beneficial Ownership