Altair International Corp. (OTCQB:ATAO), a company specializing in surgical and medical instruments, announced on Monday that it has modified its merger agreement with Premier Air Charter. The amendment extends the deadline to complete the merger from August 31, 2024, to November 31, 2024.
This extension, detailed in Amendment 4 to the Merger Agreement, was agreed upon by all parties involved, including Premier Air Charter Merger Sub, Inc., and TIPP Aviation, LLC, the sole shareholder of Premier. According to the filing, no other terms of the original Agreement and Plan of Merger have been altered.
The decision to extend the merger deadline provides additional time for Altair and Premier to fulfill the necessary conditions to finalize the merger. The merger is a strategic move for Altair, which is expanding its business operations into the aviation sector.
The financial details of the merger were not disclosed in the 8-K filing. However, the filing did include Amendment No.4 to the Agreement and Plan of Merger as Exhibit 10.1, which contains the full terms of the amendment.
The merger is subject to customary closing conditions, and the companies are working towards meeting these requirements within the new timeline. The extension of the deadline suggests that while progress is being made, more time is needed to navigate the complexities of the transaction.
This development is part of Altair's broader strategy to diversify its portfolio and enter new markets. The company's move into the aviation industry through the merger with Premier Air Charter signifies a significant step in its growth trajectory.
The information in this article is based on the latest SEC filing by Altair International Corp.
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