Shares of Tempus Applied Solutions (OTCQB: TMPS) are up 10.8% mid-day after the company this morning said that it has entered into a definitive purchase agreement for the acquisition of six Lockheed L-1011s formerly owned and operated by the Royal Air Force (RAF) of the United Kingdom. Four of the acquired aircrafts are configured for air-to-air refueling (AAR) operations, while the other two are designed for passenger and cargo operations only. Inspections of the aircraft, associated log books and support equipment will take place before the closing of the acquisition. The company expects to issue the seller approximately 6,730,769 common shares at a value of $0.52 per share for the acquisition. “We are very encouraged to have found a potential solution for the shortage of AAR services that currently exist within the US Navy and Marine Corps tactical aviation and many NATO/Allied air forces. We will perform the necessary inspections and evaluations over the next several weeks in order that the transaction can close as soon as possible,” Tempus CEO Scott Terry stated in the news release.
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About Tempus Applied Solutions
Tempus provides design, engineering, systems integration and flight operations solutions that support critical aviation mission requirements for a variety of customers including the United States Department of Defense, other U.S. government agencies, foreign governments and select corporations and individuals in the private sector. The company’s experienced team of professionals provides efficient, economical and flexible service that responds to the most challenging demands facing the aviation industry today. The company’s commitment to safety and security has earned it a reputation as one of the most forward-thinking aviation companies worldwide. Tempus is headquartered in Williamsburg, Virginia. For more information, visit www.tempus-as.com.
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