DayJet Receives $50 Million in Private Equity Financing.Latest Round Places "Per-Seat, On-Demand" Pioneer Among Best Capitalized Pre-Launch Air Carriers in U.S. Aviation History DELRAY BEACH Delray Beach, resort city (1990 pop. 47,181), Palm Beach co., SE Fla., on the Atlantic coast; settled 1895, inc. 1911. Mostly residential, Delray Beach is also the trade center for a citrus-fruit and vegetable-growing region. , Fla. -- DayJet([TM]) today announced the receipt of $50 million in capital resulting from the completion of its third round of private equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. . This latest round of investment provides DayJet with the capital required to launch its innovative "Per-Seat, On-Demand"jet service in the second quarter this year. Combined with the proceeds of earlier funding rounds, this transaction places the company among the best capitalized pre-operational passenger air carriers in U.S. aviation history and the largest in the on-demand sector. The majority of Series C securities were placed with new investors including eight institutions and private equity funds as well as numerous individuals. The investor group also included some private equity investors from outside of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Raymond James  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . & Associates, Inc. served as financial advisor to DayJet, and certain affiliates of Raymond James also participated as investors in the offering. The capital raised in this round will be used to finalize the development of the company's infrastructure and systems, hire and train the launch teams, and support the roll-out of DayJet's "Per-Seat, On-Demand" regional flight operations across Florida and the Southeast. "This funding is the keystone to the operational launch of our 'Per-Seat, On-Demand' jet service," said Ed Iacobucci Edward E. Iacobucci was the leader of the IBM OS/2 Design Team. In 1989, he founded the US software company Citrix Systems [1]. He is currently the president and CEO of DayJet, an on-demand regional jet travel service, and was a member of the SCO Group's Board of , president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of DayJet. "With the necessary capital now in place, we are just months away from delivering regional business travelers something they have never had - accessible and affordable mobility between difficult-to-reach regional destinations." About "Per-Seat, On-Demand" Jet Service DayJet has developed the first "Per-Seat, On-Demand" jet service that makes the convenience of corporate jet travel broadly available and affordable for more people and organizations, turning wasted travel time into valuable business and personal time. "Per-Seat" means customers only pay for the seat(s) booked, not the entire aircraft. "On-Demand" means customers fly only on their individually negotiated schedules. The company will never publish schedules or operate on fixed schedules. Instead, DayJet flights will be uniquely tailored to each customer's needs and priced at a modest premium to equivalent regional full-fare coach airfares. Until now, taking a regional business trip of 300-600 miles often meant spending endless hours in a car or taking a connecting flight through a congested con·gest·ed adj. Affected with or characterized by congestion. congested ENT adjective Referring to a boggy blood-filled tissue. See Nasal congestion. hub, wasting time and productivity. Thanks to the convergence of innovative new technologies, DayJet turns these short trips into daytrips, giving professionals greater diversity in travel options and greater ability to manage their time. DayJet combines the scalability and efficiency of the Eclipse 500 very light jet (VLJ VLJ Very Light Jet (aircraft) ) with its proprietary technical innovations in real-time optimization to make "Per-Seat, On-Demand" jet service a practical and affordable regional travel option for a much broader range of people and organizations. About DayJet DayJet is the pioneer of a new type of regional travel: "Per-Seat, On-Demand" jet service that is uniquely tailored to each customer's individual schedule and priced at a modest premium to full-fare coach airfares. Headquartered in Delray Beach, Florida Delray Beach is a city in Palm Beach County, Florida, USA. As of the 2000 census, the city had a total population of 60,020. As of 2004, the population estimated by the U.S. Census Bureau is 64,150. , DayJet has developed this new industry's first real-time operations system. Combined with the speed and efficiency of Eclipse 500 very light jet (VLJ) aircraft, DayJet has created the next major advance in corporate productivity and regional economic development. For more information, visit www.dayjet.com. DayJet's on-demand jet services will be operated by DayJet Corporation's wholly-owned subsidiary, DayJet Services, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a registered air taxi operator under Part 298 of the DOT's regulations and the holder of an FAA Air Carrier Certificate authorizing on-demand operations under Part 135 of the FAA's regulations under Title 49, Subtitle VII, of the United States Code Noun 1. United States Code - a consolidation and codification by subject matter of the general and permanent laws of the United States; is prepared and published by a unit of the United States House of Representatives U. S. (Transportation Code), and any statements made in connection therewith there·with adv. 1. With that, this, or it. 2. In addition to that. 3. Archaic Immediately thereafter. Adv. 1. are subject to the receipt of operating authority for the Eclipse 500 aircraft from the FAA under the Transportation Code. DayJet([TM]) is a trademark of DayJet Corporation. All other trademarks and registered trademarks are property of their respective owners. |
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