Form 4: Red Oak Partners Increases Stake in Global Crossing Airlines Group Inc.

Red Oak Partners, LLC reports purchasing additional shares and warrants of Global Crossing Airlines Group Inc., increasing their beneficial ownership.

Summary

• Red Oak Partners, LLC, through The Red Oak Fund, LP and The Red Oak Long Fund, L.P., acquired additional common stock and warrants of Global Crossing Airlines Group Inc. on February 20, 2025.
• The purchases were made at a price of $0.729 per share for common stock and $0.01 per warrant.
• The transactions involved both Class A and Class B non-voting common stock.
• Following the reported transactions, The Red Oak Fund, LP directly owns 5,529,498 shares of common stock, 798,389 shares of Class B Non-Voting Common Stock, 3,634,139 shares of Class A Non-Voting Common Stock and 4,946,739 warrants.
• The Red Oak Long Fund, L.P. directly owns 2,896,169 shares of common stock, 418,111 shares of Class B Non-Voting Common Stock, 1,903,174 shares of Class A Non-Voting Common Stock and 2,590,574 warrants.
• David Sandberg, as managing member of Red Oak Partners, LLC, disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. The increased investment by a significant shareholder suggests confidence, but the filing itself is simply a record of transactions.

Positives

• Increased investment by Red Oak Partners could signal confidence in Global Crossing Airlines Group Inc.'s future prospects.

Risks

• The warrants may not be exercised if doing so would result in Red Oak Partners beneficially owning more than 4.99% of the outstanding common stock.

Future Outlook

The document does not contain specific forward-looking statements regarding Global Crossing Airlines Group Inc.'s future performance, but the increased investment by Red Oak Partners suggests a positive outlook.

Management Comments

• David Sandberg, managing member of Red Oak Partners, LLC, disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest.

Industry Context

This filing indicates investment activity in the airline sector, which is sensitive to economic conditions, fuel prices, and regulatory changes. Further analysis would be needed to determine if this is part of a broader trend.

Comparison to Industry Standards

• It is difficult to compare this specific transaction to industry standards without knowing the overall investment strategy of Red Oak Partners and the specific financial condition of Global Crossing Airlines Group Inc.
• However, similar filings by institutional investors in other airlines could be used as a benchmark to assess the relative size and impact of this investment.

Stakeholder Impact

• The increased investment could positively impact shareholder confidence.
• The transactions do not appear to have a direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

Global Crossing Airlines Group Inc., Red Oak Partners, JETMF, Beneficial Ownership, Form 4, Warrants, Common Stock, Investment