Tempus Applied Solutions Holdings, Inc. announced that it has received $1 million in funding from Cowen Investments LLC, Chart Acquisition Group LLC, and other investor.

Tempus Applied Solutions Holdings, Inc. (OTCPK:TMPS) announced that it has entered into securities purchase agreement for private placement of 250,000 common shares at $4 per share for gross proceeds of $1,000,000 on August 14, 2015. The company also issued series B-3 warrants, and series A-3 warrants in the transaction. The transaction included participation from three investors including, returning investors, Cowen Investments LLC for 87,500 shares, 6,249 A-3 warrants, and 2,083 B-3 warrants, Chart Acquisition Group LLC for 154,168 shares, 115,626 series A-3 warrants, and 38,542 series B-3 warrants, and John Wright, Chairman of the company for 8,332 shares, 6,249 series A-3 warrants, and 2,083 series B-3 warrants.

Each warrant entitles the holder to acquire common share or preferred stock of the company. Each B-3 warrants is exercisable at $4.80 per share and will expire on July 31, 2020. Each A-3 warrant is exercisable at $5 per share and will expire on October 31, 2016.

Series A-3 warrants will be convertible into series A convertible preferred stock of the company for an aggregate 187,500 preferred stock and series B-3 warrants will be convertible into aggregate 62,500 common shares or preferred stock of the company. The company will issue securities pursuant to exemption provided under Regulation D.