EG Acquisition Corp (EGGF)

Amber International Appoints Brunei Investment Agency's Noorsurainah Tengah to Board of DirectorsMay 22, 2026 3:03 AM
PR Newswire (US) Veteran sovereign wealth fund executive and seasoned public-company director strengthens Board's institutional governance and investment oversightSINGAPORE, May 22, 2026 /PRNewswire/ -- Amber International Holding Limited (Nasdaq: AMBR) ("Amber International" or the "Company"), operating under the brand "Amber Premium," today announced the appointment of Ms. Noorsurainah Tengah as an independent director of the Company's Board of Directors (the "Board"), effective May 21, 2026. Ms. Tengah will serve on the Board's Corporate Governance and Nominating Committee and Investment Committee.Ms. Tengah is Head of Alternative Assets and Listed Assets at the Brunei Investment Agency (BIA), the sovereign wealth fund of the Government of Brunei, where she also serves on the Investment Committee and Management Committee. She brings to Amber International's Board extensive experience in sovereign wealth investment, alternative assets, institutional asset management, and public-company governance across multiple jurisdictions, at a pivotal stage in the Company's growth as a Nasdaq-listed digital wealth management platform.About Ms. Noorsurainah TengahMs. Tengah has led Alternative Assets and Listed Assets at BIA since December 2019, and previously served as Head of Alternative Assets and Real Estate during her tenure at the agency. She concurrently serves as an Independent Non-Executive Director of Mapletree Industrial Trust Management Ltd., the manager of Mapletree Industrial Trust (SGX: ME8U) since April 2023, and as a Director of Perennial Holdings Private Limited and Perennial Group Private Limited since May 2024.Over the preceding five years, Ms. Tengah has held senior leadership and board positions across listed companies, including directorships at EG Acquisition Corp. (NYSE: EGGF) and Boqii Holding Limited (NYSE: BQ), giving her direct experience as a director of U.S.-listed public companies.Ms. Tengah holds a Master's degree in Finance and Economics from Manchester Business School (United Kingdom) and has completed the Program for Leadership Development at Harvard Business School. She is also a Chartered Financial Analyst (CFA) charterholder and a Chartered Alternative Investment Analyst (CAIA).Concurrent with Ms. Tengah's appointment, the Company announced that Mr. Wayne Huo ("Mr. Huo") has resigned from his roles as director of the Board and his respective committee positions."We are pleased to welcome Ms. Tengah to our board," said Michael Wu, Chairman of the Board and Chief Executive Officer of Amber International. "Her deep financial industry expertise and strategic insight in both private and public markets will be instrumental in advancing the Company's strategic priorities and driving its continued growth. On behalf of the Board, I would also like to extend our sincere gratitude to Mr. Huo for his dedication and valuable contributions to Amber International throughout his tenure with the Company."Following the foregoing changes, the Company's Board will consist of four directors, namely Mr. Michael Wu, Mr. Bo Shen, Ms. Vicky Wang and Mr. Yi Bao, and five independent directors, namely Ms. Noorsurainah Tengah, Ms. Jiao Jie, Mr. Lub Bun Chong, Mr. Philip Kan and Mr. Winson Ip Wing Wai, effective May 21, 2026.About Amber International Holding LimitedAmber International Holding Limited (Nasdaq: AMBR), operating under the brand name "Amber Premium," is a global leading digital wealth management platform. As a private banking grade expert in digital wealth management and a subsidiary of Amber Group, Amber Premium is a trusted partner to high-net-worth individuals and leading institutions, delivering institutional-grade market access, execution infrastructure, and investment solutions. The firm is set to redefine the digital wealth management landscape, serving as a proven Nasdaq-listed gateway to digital assets. Learn more at www.ambr.io.Forward-Looking StatementsThis announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.Media & Investor ContactsIn Asia:
Amber International Holding Limited
Media Relations Team
Phone: +65 6022 0228
E-mail: pr@ambr.io | ir@ambr.ioIn the United States:
International Elite Capital Inc.
Annabelle Zhang
Tel: +1 (646) 866-7928
E-mail: amber@iecapitalusa.com View original content:https://www.prnewswire.com/news-releases/amber-international-appoints-brunei-investment-agencys-noorsurainah-tengah-to-board-of-directors-302779935.htmlSOURCE Amber International Holding Limited Original: Amber International Appoints Brunei Investment Agency's Noorsurainah Tengah to Board of Directors

“At the time of EG Acquisition Corp.'s initial public offering, the sponsor agreed to not sell its founder shares for a period of three years after the business combination.”

“8:45a ET 10/17/2022 - Dow Jones
Press Release: flyExclusive, One of the Fastest-Growing Providers of Premium Private Jet Charter Experiences, to Become Publicly Traded via Business Combination Agreement with EG Acquisition Corp.
flyExclusive, One of the Fastest-Growing Providers of Premium Private Jet Charter Experiences, to Become Publicly Traded via Business Combination Agreement with EG Acquisition Corp.

PR Newswire

NEW YORK and KINSTON, N.C., Oct. 17, 2022

flyExclusive has entered into a business combination agreement with EG Acquisition Corp. (NYSE: EGGF); the combined company is expected to trade on the NYSE

In just over seven years, flyExclusive has become one of the nation's five largest private jet operators with triple digit membership growth and a 94% retention rate among existing members

Track record of recurring profitable growth with projected estimated 2022 revenue of more than $360 million and estimated 2022 Management EBITDA of $32.0 million and a projected 2023 revenue of $522 million with an estimated Management EBITDA of $63.7 million

Transaction values flyExclusive at a pre-transaction equity value of $600 million and is expected to provide up to $310 million in proceeds, including $85 million of immediate funding through committed convertible notes and up to $225 million of SPAC cash held in trust

Proceeds will allow flyExclusive to continue its growth, better serve customers and execute its strategic plan to become the nation's first fully vertically integrated private aviation company

NEW YORK and KINSTON, N.C., Oct. 17, 2022 /PRNewswire/ -- flyExclusive, a leading provider of premium private jet charter experiences, and EG Acquisition Corp. (NYSE: EGGF), a Special Purpose Acquisition Company (SPAC) sponsored by EnTrust Global and GMF Capital, announced today that they have entered into a definitive business combination agreement.

Under the terms of the agreement, flyExclusive and EG Acquisition Corp. will combine into a new company that is expected to be listed on the New York Stock Exchange and will adopt flyExclusive as the corporate operating brand. flyExclusive founder and CEO Jim Segrave will lead the combined company.

The transaction, once completed, will provide flyExclusive with significant additional capital to continue its growth, better serve customers and execute its strategic plan to become the nation's first fully vertically integrated private aviation company. flyExclusive's leadership team will retain control of the company, ensuring a generational company will continue to grow in Kinston, NC.

In addition, certain sovereign wealth and U.S. institutional investors are providing $85 million to flyExclusive, via the purchase of convertible notes that were entered into simultaneously with the signing of the business combination agreement. The notes will convert into shares of the combined company upon the consummation of the business combination at a price of $10 per share (subject to adjustment in certain instances). The $85 million from the notes is expected to be primarily used by flyExclusive for the acquisition of additional aircraft and for related expenses.

flyExclusive Overview

Headquartered in Kinston, NC, flyExclusive is a premiere Part 135 owner/operator of private jet experiences that surpass expectations for quality, convenience, and safety. As one of the world's largest operators of Cessna Citation aircraft with a floating fleet of over 90 jets, flyExclusive offers access to a network of personalized private aviation with on-demand flights that can service a myriad of specialized trip needs. flyExclusive has over 800 employees with its operations centrally located on the East Coast within a few flight hours of over 70% of its customer demand.

flyExclusive's award-winning Jet Club is a multi-tiered membership program that allows customers to access the fleet with guaranteed access, no monthly management fees, no blackout dates and minimal peak days. Members retain their membership for as long as they choose to fly for a low monthly fee, with an aircraft daily rate that enables access to the most aggressive hourly rates in the industry. The company's Jet Club rate structure is purposefully designed to deliver competitively priced flights on short distance legs as well as cross-country ones. It was named by Robb Report as best in the "Jet Cards and Membership" category in the 2022 Best of the Best Awards.

flyExclusive entered the fractional market with the order of 30 CJ3+ aircraft earlier in 2022. Expansion of the fractional program to the mid and super-mid categories is expected immediately. The flyExclusive fractional program is structured like the Jet Club program with daily access fees and aggressive hourly rates, no monthly management fees or blackout dates and minimal peak days.

flyExclusive flew over 46,000 hours in 2021, over 46% percent more than the prior year. The company is currently flying nearly 5,000 hours per month. During the COVID pandemic, flyExclusive was one of only two operators that flew more flight hours in 2020 than it flew in 2019. Additionally, the company delivered major enhancements to its Jet Club and enjoyed triple digit membership growth while many operators scaled back their jet card offerings and added restrictions for new members to offset jet demand. flyExclusive made investments to its fleet to guarantee availability so new Jet Club members were able to fly immediately without any restrictions or blackouts.

flyExclusive is both ARG/US and Wyvern certified, which is achieved by less than 5% of all private flight providers.

EG Acquisition Corp. Overview

EG Acquisition Corp. is a Special Purpose Acquisition Company (SPAC) sponsored by EnTrust Global and GMF Capital that raised $225 million in its initial public offering on May 26, 2021.

Founded in 1997 by Chairman and CEO Gregg S. Hymowitz, EnTrust Global is a global investment firm with approximately $18 billion in total assets. The firm manages assets for more than 500 institutional investors representing 48 countries. EnTrust has invested nearly $14 billion across approximately 160 transactions in both the private and public sectors, including transportation businesses. GMF Capital, a private investment platform founded by Gary Fegel in 2013, manages more than $1.5 billion in assets and has invested more than $5.5 billion of assets across 100+ transactions since inception, including in blank check companies and aviation industry assets. Both EnTrust Global and GMF capital have significant experience with SPAC transactions, having executed several successful business combinations.

Mr. Hymowitz serves as CEO and director of EG Acquisition Corp, and Mr. Fegel serves as chairman of EG Acquisition Corp.'s Board of Directors.

At the time of EG Acquisition Corp.'s initial public offering, the sponsor agreed to not sell its founder shares for a period of three years after the business combination. Mr. Hymowitz and Mr. Fegel believed, and continue to believe, that this longer "lock-up" period should better align the interests of the sponsor with those of EG Acquisition's investors. As such, with certain limited exceptions, the sponsor will continue to be invested in the combined company for at least three years after the completion of the business combination. In addition, Mr. Hymowitz and Mr. Fegel are expected to serve as directors on the board of directors of the combined company.

Management Commentary

"flyExclusive is raising the bar in the private aviation industry and creating the best possible experience for customers, partners, and employees so we can create more moments that matter," said Jim Segrave, CEO of flyExclusive. "We are excited to enter the public markets through our business combination with EG Acquisition Corp. This capital, combined with our leadership team's significant aviation industry experience, will allow flyExclusive to rapidly grow our workforce, significantly expand our fleet and further invest in our customer experience, while maintaining our core values and family first culture."

Added Segrave: "flyExclusive previously announced the purchase of 30 Citation CJ3+ light aircraft with deliveries scheduled to start Q3 of next year. With this additional capital, we are planning to further expand of our fractional ownership program to include mid and super-mid aircraft to provide more options to our valued customers."

"flyExclusive has become one of the fastest-growing providers of premium private jet charter experiences thanks to their world-class leadership team, business model designed to maximize utilization and flight unit economics and the consistent high-quality service they provide to customers," said Gregg S. Hymowitz, CEO and Director of EG Acquisition Corp. and Chairman and CEO of EnTrust Global. "I could not be more confident in Jim and his team at flyExclusive and believe they are ready to further accelerate their market position through this opportunity to become a public company."

"When we founded EG Acquisition Corp., our intention was to identify a high-quality business run by an exceptional team, pursuing growth and large market opportunities," said Gary Fegel, founder of GMF Capital and Chairman of EG Acquisition Corp. "flyExclusive is an ideal partner. Their differentiated model and track record of performance, combined with our investment and the continued acceleration of the private aviation market, will allow flyExclusive to extend their leadership position and deliver shareholder value."

Transaction Overview

Under the terms of the definitive business combination agreement, the transaction values flyExclusive at a pre-transaction equity value of $600 million and is expected to provide up to $310 million in proceeds, including $85 million of committed convertible notes described above and $225 million of SPAC cash in trust assuming no redemptions. No additional funding beyond the $85 million of already committed convertible notes is required for the business combination to close.

Upon the closing of the proposed transaction, flyExclusive's senior management will continue to serve in their current roles. The current flyExclusive owners will retain approximately 60% of the ownership at close, assuming no redemptions in SPAC cash held in trust.

(MORE TO FOLLOW) Dow Jones Newswires

October 17, 2022 08:45 ET (12:45 GMT))”

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