Star Jets International, LLC completed the acquisition of Advanced Defense Technologies, Inc. in a reverse merger transaction.
October 02, 2017
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Star Jets International, LLC signed a letter of intent to acquire Advanced Defense Technologies, Inc. (OTCPK:ADCF) in a reverse merger transaction on September 9, 2017. Under the terms of the letter of intent, shareholders of Advanced Defense Technologies will retain approximately 10% ownership and the shareholders of Star Jets International will own approximately 90% of the equity in the combined entity. The closing of the transaction is subject to customary closing conditions. Star Jets International and Advanced Defense Technologies anticipate executing a definitive agreement within the next 30 days and closing within 45 days after certain filings are made with the U.S. Securities and Exchange Commission and/or FINRA.
Star Jets International, LLC completed the acquisition of Advanced Defense Technologies, Inc. (OTCPK:ADCF) in a reverse merger transaction on October 2, 2017. Shareholders of Star Jets International are being issued preferred stock, which will constitute a majority of the capital structure of the public company. The public company will change its name to Star Jets International.
Star Jets International, Inc. owns and operates a private jet charter brokerage. The Company operates as a private jet charter broker with an emphasis on providing superior pricing and personal services to its clientele on a global basis. The Company operates through two segments: Flight Revenue, and Aircraft Sales. The Flight Revenue segment includes jet charter booking fees. Aircraft Sales include fees related to the brokerage of various types of aircraft between buyers and sellers. The Company offers private charter services, such as private jet charter, empty legs, executive jet charter, helicopters, air taxi, and air ambulance. Its group charter services include personnel logistics, corporate shuttles, sports teams, tours and roadshows, events and exhibitions, and charter concepts. It also offers special solutions, such as sports events, cargo shipments, oil and gas, government, music and film. The Company offers two distinct Jet Card programs: Jet Card Gold and Jet Card Platinum.