FLYHT Aerospace Solutions Receives Court Approval for Acquisition

FLYHT Aerospace Solutions Ltd. has received final court approval for its acquisition by Firan Technology Group Corporation (FTG). This decision, granted by the Court of King's Bench of Alberta, supports the previously announced arrangement under the Canada Business Corporations Act, on December 18, 2024. FTG is poised to acquire all outstanding common shares of FLYHT, with the transaction valued at approximately CAD$13.2 million.

The agreement, announced on October 21, 2024, outlines a cash and share transaction. Completion is expected by December 20, 2024, pending customary closing conditions. This arrangement reflects FLYHT's strategic positioning in providing actionable intelligence and aviation technology solutions.