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FLYHT Aerospace Solutions has announced the closing of its acquisition by Firan Technology Group (FTG). Under the arrangement, FLYHT shareholders received different compensation options: (i) CAD$0.1103 in cash and 0.0333 FTG Shares, (ii) CAD$0.3379 in cash, or (iii) 0.0495 FTG Shares, subject to pro-ration. The deal had a maximum aggregate cash consideration of CAD$4.3 million and 1,300,000 FTG Shares.
Following shareholder elections, those who chose all-cash consideration will receive CAD$0.3379 per share, while those who elected all-share consideration will receive CAD$0.0588 and 0.0409 FTG shares per share. FLYHT's common shares are expected to be delisted from TSX Venture Exchange around December 30, 2024.
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