The acquisition of Air 1 Flight Support Inc. by Tactical Air Defense Services Inc -- TADF -- is expected within 30 days subject to due-diligence, documentation and approval of TADF board of directors.
"The acquisition of Air 1 brings to TADF a proven track record of innovation and success in providing ancillary aerial support services," said TADF Chief Executive Officer Alexis C. Korybut. "We believe this acquisition can generate additional sources of revenue in its own right, and make TADF more competitive in providing a well-rounded menu of aerial support services to both military and commercial customers."
TADF is a services contractor that offers tactical aviation services, aircraft maintenance, and other aerospace and defense services. Air 1 provides support services to the military and commercial aircraft industry, including maintenance and refueling.
TADF said it will buy all the outstanding shares of Air 1 for consideration of 5 million shares of its Series C Preferred stock.