The California Department of Business Oversight has issued a permit authorizing AeroCentury Corp. to solicit the consent of JetFleet Holding Corp. shareholders to the proposed merger between the two companies.
The permit also allows AeroCentury to issue common shares as part of the transaction.
The proposed merger remains subject to the approval of JetFleet shareholders and the satisfaction of certain other customary closing conditions. AeroCentury expects the acquisition to close in early April.
JetFleet, AeroCentury, its unit Falcon Landing Inc. and Fortis Advisors LLC as shareholder representative are parties to the merger agreement.
