Volato Group Inc. ( SOAR ) shares are trading higher Thursday after the company announced a strategic move to acquire M2i Global, a developer of critical mineral supply chains.

What To Know: The deal, detailed in a newly signed non-binding term sheet, will transition Volato ( SOAR ) from a pure-play aviation company into a dual-platform business with exposure to both aviation software and U.S. critical minerals infrastructure.

Under the terms of the transaction, M2i Global will receive approximately 90% of Volato's ( SOAR ) common stock on a fully diluted basis, while current Volato ( SOAR ) shareholders will retain around 10%. The combined entity will be led by Alberto Rosende as CEO, with current Volato ( SOAR ) CEO Matt Liotta becoming president of the aviation and software division.

The move positions Volato ( SOAR ) to benefit from federal policies focused on U.S. mineral independence, leveraging M2i's high-value contracts, including an $850 million offtake agreement with NT Minerals. It also preserves Volato's ( SOAR ) core aviation platforms like Vaunt and Mission Control, which will continue operating under dedicated leadership.

The market responded positively to the announcement, viewing it as a way for Volato ( SOAR ) to unlock new capital access and scale through diversification, while aligning with national strategic priorities. The deal is pending customary closing conditions.

SOAR Price Action: Volato ( SOAR ) shares were up 4.15% at $2.26 at the time of writing, according to Benzinga Pro.

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