flyExclusive, Inc. today announced it has commenced an underwritten public offering of shares of its common stock or equivalents, with Lucid Capital Markets acting as sole book-running manager. The offering is being made under an SEC-declared effective shelf registration statement on Form S-3 (File No. 333-287720) that was filed on June 2, 2025 and declared effective on June 30, 2025. The company has not set the size or pricing terms of the sale, which remain subject to prevailing market conditions, and there is no assurance as to whether or when the transaction may be completed. A preliminary prospectus supplement and accompanying prospectus will be filed with the SEC and will be publicly available at sec.gov, with paper copies obtainable through Lucid Capital Markets at its New York office.

On January 8, 2026, flyExclusive shares surged more than 100% in a single session following announcement of an authorized dealership agreement with SpaceX’s Starlink. Trading volume that day swelled to approximately 46.4 million shares, compared with a three-month average daily volume of just over 20,000 shares. Under the agreement, flyExclusive will begin installing Starlink’s aviation-optimized satellite systems, capable of delivering up to 310 Mbps speeds and low latency, across its Challenger 350 fleet in early 2026, while also offering installation and support services to third-party aircraft owners. The expanded Maintenance, Repair and Operations platform leverages the company’s vertically integrated FAA-certificated air carrier status and MRO facilities in Kinston, North Carolina.

Despite the positive operational developments, flyExclusive reported trailing twelve-month revenue of $362.96 million, but also logged a net loss of $26.99 million and negative levered free cash flow of $42.69 million in its latest SEC filings. The company’s balance sheet shows negative equity, and it faces ongoing obligations under existing debt covenants as well as continued listing requirements on the NYSE American. With limited Wall Street coverage, investors are watching how the capital raise and new Starlink dealership will impact liquidity, margin improvement and the company’s ability to scale its Jet Club membership, fractional ownership and on-demand charter programs.