Chart Acquisition Corp. (OTCQB: CACG; CACGW; CACGU) said it has closed its business combination with Tempus Applied Solutions, LLC, creating a new holding company called Tempus Applied Solutions Holdings, Inc.
Tempus Holdings´ common stock and warrants will commence trading on the OTCQB Marketplace under the ticker symbols “TMPS” and “TMPSW,” respectively, on Tuesday, August 4, 2015.
“Our team at Tempus has spent years building the expertise and credibility to meet the requirements of governments, heads of state, and large commercial operators as they must upgrade their aircraft to meet modern electronics, communications, and other system requirements,” said B. Scott Terry, founder and CEO of Tempus, who will serve as CEO of Tempus Holdings. “We believe that we will be a significant player in this growing and demanding market and, as a public company, we will now have access to financial resources to meet near-term customer requirements and future expansion.”
Cowen and Company, LLC, acted as financial adviser to Chart, and Ellenoff Grossman & Schole, LLP, served as legal counsel to Chart. Alston & Bird, LLP, served as legal counsel to Tempus.
Headquartered in Williamsburg, Virginia, Tempus provides turnkey and customized design, engineering, modification and integration services, and operations solutions that support aircraft critical mission requirements for various international customers including the United States Department of Defense, other US government agencies, foreign governments, and heads of state.