<SEC-DOCUMENT>0001193125-23-287553.txt : 20231201
<SEC-HEADER>0001193125-23-287553.hdr.sgml : 20231201
<ACCEPTANCE-DATETIME>20231201170757
ACCESSION NUMBER:		0001193125-23-287553
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20231201
DATE AS OF CHANGE:		20231201

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EG Acquisition Corp.
		CENTRAL INDEX KEY:			0001843973
		STANDARD INDUSTRIAL CLASSIFICATION:	AIR TRANSPORTATION, NONSCHEDULED [4522]
		IRS NUMBER:				861740840
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40444
		FILM NUMBER:		231460429

	BUSINESS ADDRESS:	
		STREET 1:		375 PARK AVENUE, 24TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10152
		BUSINESS PHONE:		212 888 1040

	MAIL ADDRESS:	
		STREET 1:		375 PARK AVENUE, 24TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10152
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>d483282ddefa14a.htm
<DESCRIPTION>DEFA14A
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE 14A
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Proxy Statement Pursuant to Section&nbsp;14(a) of the </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Securities Exchange Act of 1934 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filed by the
Registrant&nbsp;&nbsp;&#9746; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filed by a Party other than the Registrant&nbsp;&nbsp;&#9744; </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Preliminary Proxy Statement </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B></B>&#9744;<B></B><B></B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Confidential, for Use of the Commission Only (as permitted by Rule
<FONT STYLE="white-space:nowrap">14a-6(e)(2))</FONT> </B></P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Definitive Proxy Statement </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9746;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Definitive Additional Materials </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Soliciting Material under <FONT STYLE="white-space:nowrap">&#167;240.14a-12</FONT> </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>EG ACQUISITION CORP. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Registrant as Specified In Its Charter) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Person(s) Filing Proxy Statement, if other than the Registrant) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Payment of Filing Fee (Check all boxes that apply): </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9746;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">No fee required </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Fee paid previously with preliminary materials </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules
<FONT STYLE="white-space:nowrap">14a-6(i)(1)</FONT> and <FONT STYLE="white-space:nowrap">0-11</FONT> </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EG ACQUISITION CORP. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>375 Park Avenue, 24th Floor </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>New York,&nbsp;NY&nbsp;10152 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PROXY STATEMENT SUPPLEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>December&nbsp;1, 2023 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">TO THE
STOCKHOLDERS OF EG ACQUISITION CORP.: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This is a supplement (this &#147;<B>Supplement</B>&#148;) to the proxy statement of EG Acquisition Corp. (the
&#147;<B>Company</B>,&#148; &#147;<B>EGA</B>,&#148; or &#147;<B>our</B>&#148;), dated November&nbsp;13, 2023 (the &#147;<B>Proxy Statement</B>&#148;), that was sent to you in connection with the Company&#146;s special meeting to be held on
December&nbsp;7, 2023 (the &#147;<B>Special Meeting</B>&#148;) to consider and vote upon a proposal, among others, to approve and adopt the business combination contemplated by the equity purchase agreement, dated October&nbsp;17, 2023, as amended
on April&nbsp;21, 2023, and as it may be further amended and/or restated from time to time, (the &#147;<B>Equity Purchase Agreement</B>&#148;) with LGM Enterprises, LLC, a North Carolina limited liability company (&#147;<B>LGM</B>&#148;) and the
parent company of Exclusive Jets, LLC d/b/a &#147;flyExclusive,&#148; the existing equityholders of LGM (the &#147;<B>Existing Equityholders</B>&#148;), EG Sponsor LLC, a Delaware limited liability company (&#147;<B>Sponsor</B>&#148;) and Thomas
James Segrave, Jr., in his capacity as existing equityholder representative. The transactions contemplated by the Equity Purchase Agreement are referred to herein as the &#147;<B>Business Combination</B>.&#148;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The purpose of this Supplement is to supplement the disclosure in the Proxy Statement by describing a new senior secured note transaction entered into by LGM
on December&nbsp;1, 2023. There are no changes to the proposals to be acted upon at the Special Meeting, which are described in the Proxy Statement. Except as supplemented by the information contained in this Supplement, all information set forth in
the Proxy Statement continues to apply and should be considered in voting your shares. This Supplement should be read in conjunction with the Proxy Statement. Capitalized terms used but not defined in this Supplement have the meanings set forth in
the Proxy Statement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Before you vote, you should read the Proxy Statement and other documents that EGA has filed with the Securities and Exchange
Commission (the &#147;<B>SEC</B>&#148;), together with this Supplement, for more complete information about EGA and the Business Combination. If you need additional copies of this Supplement, the Proxy Statement, or the proxy card you should contact
Morrow Sodali, EGA&#146;s proxy solicitor, by calling toll-free <FONT STYLE="white-space:nowrap">(800)&nbsp;662-5200,&nbsp;or</FONT> banks and brokers may call at <FONT STYLE="white-space:nowrap">(203)&nbsp;658-9400,&nbsp;or</FONT> by emailing
EGGF.info@investor.morrowsodali.com.</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">You may also obtain a free copy of this Supplement, the Proxy Statement and other documents containing information
about the Company and the Business Combination, without charge, at the SEC&#146;s website at www.sec.gov. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">All our stockholders are cordially invited to
attend the Special Meeting virtually. To ensure your representation at the Special Meeting, however, you are urged to complete, sign, date and return the proxy card that was enclosed with the Proxy Statement previously mailed to you as soon as
possible. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If you are a stockholder of record and you have already provided a proxy, your shares will be voted in accordance with your instructions at the
Special Meeting, unless you affirmatively change your proxy as described in the Proxy Statement. If you have not yet provided a proxy, you are urged to complete, sign, date and return the proxy card that was enclosed with the Proxy Statement
previously mailed to you as soon as possible. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If you are a stockholder of record holding shares of EGA Common Stock, you may also cast your vote in
person (which would include voting at the virtual Special Meeting). If your shares are held in an account at a brokerage firm or bank, you must instruct your broker or bank on how to vote your shares or, if you wish to attend the Special Meeting and
vote in person (which would include voting at the virtual Special Meeting), obtain a proxy from your broker or bank. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 2 - </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Your vote is important regardless of the number of shares you own. Whether you plan to attend the Special
Meeting virtually or not, please sign, date and return the proxy card that was enclosed with the Proxy Statement previously mailed to you as soon as possible. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 3 - </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Supplement includes &#147;forward-looking statements&#148; within the meaning of the safe harbor provisions of the United States Private
Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words &#147;believe,&#148; &#147;project,&#148; &#147;expect,&#148; &#147;anticipate,&#148; &#147;estimate,&#148; &#147;intend,&#148;
&#147;strategy,&#148; &#147;future,&#148; &#147;opportunity,&#148; &#147;plan,&#148; &#147;may,&#148; &#147;should,&#148; &#147;will,&#148; &#147;would,&#148; &#147;will be,&#148; &#147;will continue,&#148; &#147;will likely result,&#148; and
similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could
cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i)&nbsp;the risk that the Business Combination not be completed in a timely manner or at all, which may adversely
affect the price of EGA&#146;s securities, (ii)&nbsp;the risk that the Business Combination not be completed by EGA&#146;s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought
by EGA, (iii)&nbsp;the failure to satisfy the conditions to the consummation of the Business Combination, including the approval by the stockholders of EGA and the receipt of any required governmental and regulatory approvals, (iv)&nbsp;the lack of
a third-party valuation in determining whether or not to pursue the Business Combination, (v)&nbsp;the occurrence of any event, change or other circumstance that could give rise to the termination of the Equity Purchase Agreement, (vi)&nbsp;the
effect of the announcement or pendency of the Business Combination on LGM&#146;s business relationships, operating results and business generally, (vii)&nbsp;risks that the proposed Business Combination disrupts current plans and operations of LGM
and potential difficulties in LGM employee retention as a result of the Business Combination, (viii)&nbsp;the outcome of any legal proceedings that may be instituted against LGM or against EGA related to the Equity Purchase Agreement or the Business
Combination, (ix)&nbsp;the ability to maintain the listing of the EGA&#146;s securities on a national securities exchange, (x)&nbsp;that the price of EGA&#146;s securities may be volatile due to a variety of factors, including changes in the
competitive and highly regulated industries in which EGA plans to operate or LGM operates, variations in operating performance across competitors, changes in laws and regulations affecting EGA&#146;s or LGM&#146;s business and changes in the
combined capital structure of the two companies after the Business Combination, (xi)&nbsp;the ability to implement business plans, forecasts, and other expectations after the completion of the proposed Business Combination, and identify and realize
additional opportunities, (xii)&nbsp;the risk of downturns in the aviation industry, including due to increases in fuel costs including in light of the war in Ukraine and other global political and economic issues, (xiii)&nbsp;a changing regulatory
landscape in the highly competitive aviation industry, and (xiv)&nbsp;risks associated with the overall economy, including recent and expected future increases in interest rates and the potential for recession. The foregoing list of factors is not
exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the &#147;<I>Risk Factors</I>&#148; section of EGA&#146;s registration statement on
<FONT STYLE="white-space:nowrap">Form&nbsp;S-1,&nbsp;the</FONT> Proxy Statement, and other documents filed by EGA from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual
events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and
LGM and EGA assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. LGM nor EGA gives any assurance that either LGM or EGA or the combined
company will achieve its expectations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">EGA cautions that the foregoing list of factors is not exclusive. EGA cautions readers not to
place undue reliance upon any forward-looking statements, which speak only as of the date made. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking
statements, please refer to the Risk Factors section of EGA&#146;s Annual Report on <FONT STYLE="white-space:nowrap">Form&nbsp;10-K&nbsp;filed</FONT> with the SEC. EGA&#146;s securities filings can be accessed on the EDGAR section of the SEC&#146;s
website at www.sec.gov. Except as expressly required by applicable securities law, EGA disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 4 - </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SUPPLEMENT TO THE PROXY STATEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The purpose of this Supplement is to advise you that on December&nbsp;1, 2023, LGM entered into a senior secured note (the &#147;<B>Note</B>&#148;) with
FlyExclusive Jet Share, LLC, a North Carolina limited liability company and wholly-owned subsidiary of LGM (&#147;<B>Jet Share</B>&#148;), as a guarantor (together with LGM, the &#147;<B>Obligors</B>&#148;), ETG FE LLC, a Cayman Islands limited
liability company, which is managed by EnTrust Global Partners LLC, which is an affiliate of the Sponsor, as the initial holder of the Note, any additional noteholders party to the Note from time to time, Kroll Agency Services Limited, a company
incorporated under the laws of England and Wales, as administrative agent, and Kroll Trustee Services Limited, a company incorporated under the laws of England and Wales, as collateral agent. The initial principal amount of the Note is $15,714,286.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Interest on the Note accrues daily at a rate of fourteen percent (14.00%) per annum (the &#147;<B>Interest Rate</B>&#148;) and will be payable in
arrears: (a)&nbsp;on the last day of each calendar month, with the first such payment being due on January&nbsp;31, 2024 and such payments continuing until payment in full occurs in accordance with the terms of the Note; and (b)&nbsp;on the date on
which payment in full occurs.&nbsp;The Note also includes an upfront cash fee, paid by LGM, and a <FONT STYLE="white-space:nowrap">back-end</FONT> cash fee, payable by LGM at maturity of the Note. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Under the Note, LGM can make voluntary prepayments, subject to a make-whole fee equal to the Interest Rate multiplied by the prepayment amount and calculated
from the date of prepayment to December&nbsp;1, 2024 (the &#147;<B>Make-Whole Fee</B>&#148;). However, no such Make-Whole Fee will be applied to certain prepayments resulting from the disposition of certain property, including the aircraft
constituting collateral for the Note obligations or fractional shares in such aircraft. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Note contains certain covenants limiting, among other things,
LGM&#146;s or Jet Share&#146;s ability to sell or otherwise transfer to any third party any of their ownership of the collateral securing the Note, or LGM&#146;s or Jet Share&#146;s ability to incur certain other debt or incur certain liens. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The payment and performance of the obligations of the Note are secured on a first lien basis by the membership interests of Jet Share and a mortgage and
security agreement with Jet Share for specified aircraft held by Jet Share. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Note also provides for certain events of default, including, among other
things, any change of control of LGM or Jet Share (other than on account of the Business Combination), a failure to pay any amounts due under the Note, a breach of any representation or warranty made by an Obligor, a failure to comply with the
covenants set forth in the Note and certain security documents entered into by the Obligors or any material inaccuracy of the representations in such documents, the occurrence of any event of default or similar event under any agreement(s)
evidencing or relating to debt of any Obligor or any subsidiary, which debt has an aggregate outstanding principal amount in excess of $2,500,000, and certain events of insolvency/reorganization/liquidation of an Obligor. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Note will mature on December&nbsp;1, 2024, at which time, the outstanding principal amount, the <FONT STYLE="white-space:nowrap">back-end</FONT> cash fee
and all accrued and unpaid interest will be due. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 5 - </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>UPDATE TO CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The section entitled &#147;Certain Relationships and Related Party Transactions &#151; EGA&#146;s Related Party Transactions&#148; beginning on page 291 of
the Proxy Statement is supplemented by adding the following related party transaction: </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Senior Secured Note </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On December&nbsp;1, 2023, LGM entered into a Senior Secured Note (the &#147;<B>Note</B>&#148;) with FlyExclusive Jet Share, LLC, a North Carolina limited
liability company and wholly-owned subsidiary of LGM, as a guarantor, ETG FE LLC, a Cayman Islands limited liability company, which is managed by EnTrust Global Partners LLC, which is an affiliate of the Sponsor, as the initial holder of the Note,
any additional noteholders party to the Note from time to time, Kroll Agency Services Limited, a company incorporated under the laws of England and Wales, as administrative agent, and Kroll Trustee Services Limited, a company incorporated under the
laws of England and Wales, as collateral agent. The initial principal amount of the Note is $15,714,286. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Interest on the Note accrues daily at a rate of
fourteen percent (14.00%) per annum and will be payable in arrears: (a)&nbsp;on the last day of each calendar month, with the first such payment being due on January&nbsp;31, 2024 and such payments continuing until payment in full occurs in
accordance with the terms of the Note; and (b)&nbsp;on the date on which payment in full occurs.</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Note will mature on December&nbsp;1, 2024, at which
time, the outstanding principal amount, the <FONT STYLE="white-space:nowrap">back-end</FONT> cash fee and all accrued and unpaid interest will be due. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 6 - </P>

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