Following its recent rebranding from Volato Group, SOAR AI, Inc. has proposed increasing its authorized common stock to 500 million shares. The proposal, disclosed in a preliminary proxy statement, is intended to support the company’s strategic shift toward AI infrastructure and software.
The proposal is linked to a recently secured $1 billion equity line of credit, which would let the company sell shares to fund growth initiatives. Those initiatives center on developing an AI infrastructure campus in Ohio.
The company says the capital would support its expansion. However, issuing a large number of additional shares could dilute existing shareholders’ equity.