- FLYHT Aerospace (FLY) has announced a C$6.6 million non-brokered private placement with its eye on new solutions and potential acquisitions
- The private placement will consist of a maximum of 8,800,000 FLYHT common shares issued at $0.75 per share
- The company intends to use the proceeds for growth initiatives and to repay outstanding debentures
- FLYHT provides airlines with industry-leading solutions to improve aviation safety, efficiency and profitability
- FLYHT Aerospace (FLY) is down by 1.3 per cent and is currently trading at $0.76 per share
FLYHT Aerospace (FLY) has announced a C$6.6 million non-brokered private placement with its eye on new solutions and potential acquisitions.
The private placement will consist of a maximum of 8,800,000 FLYHT common shares issued at $0.75 per share.
The company intends to use the proceeds to fund growth initiatives, including potential strategic acquisitions, to repay outstanding debentures due on July 24, 2021, totalling $1.8 million, and for general corporate purposes.
Bill Tempany, Interim CEO of FLYHT, commented,
“FLYHT is strategically rolling out an expanded solution set that leverages our historical core strength in real-time aircraft data with additional insights and actions from our Actionable Intelligence suite of SaaS applications. This proposed financing will solidify our balance sheet, providing us with capital to accelerate our growth strategy as the commercial aviation industry recovers.”
FLYHT provides airlines with industry-leading solutions to improve aviation safety, efficiency and profitability.
FLYHT Aerospace (FLY) is down by 1.3 per cent and is currently trading at $0.76 per share as of 10:35 am ET.