Metals and mining investment firm Altair International Corporation is well-advanced in its reverse merger with Premier Air Charter (San Diego McClellan Palomar), according to a recent shareholder update. Altair said the closing items, per the terms of the merger agreement, are being completed and both parties look forward to finalising the transaction.
In February, Altair said its shareholders had voted to enter into a reverse merger agreement with Premier Air Charter and shareholder TIPP Aviation. The transaction would see Altair acquire 85% of Premier's stock (up to 270 million shares). Post-merger, Premier’s management would lead Altair and Altair’s liabilities would remain unchanged.
"This merger will allow Premier to expedite our business model and our growth," explained Premier CEO Sandra DiCicco. "With the ability to access the benefits of the public markets we look forward to achieving our goals while benefiting our shareholders that have supported us. Our plans of increasing the amount of aircraft and licensing new destinations through acquisitions and organic growth will be a quicker reality once this merger with Altair is finalised."
Altair International Corporation is a diversified Arizona-based holding company that buys stakes in a range of ventures, primarily within the energy, metals, minerals, and technology sectors.
Premier Air Charters is an FAA Part 135 certified charter and aircraft management operator. It says it is one of the few operators of its size that owns or leases most of the aircraft on its certificate. According to the ch-aviation fleets module, it operates one Challenger 601, two 601-3Rs, one Citation Jet 1, one Citation Jet 2, and three Citation X.
