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Ardent
Receives Approval for Avantair
Acquisition
Ardent
Acquisition Corporation
announced it will take votes on
its acquisition of fractional
aircraft operator Avantair at
Ardent’s annual stockholders
meeting on February 22, 2007.
Stockholders are invited to vote
on five proposals, including:
the approval of the acquisition
of Avantair, Inc.; increase the
Ardent’s shared common stock
from 30,000,000 shares to
75,000,000 shares; changing of
Ardent’s name to Avantair, Inc.;
and the adoption of Ardent’s
2006 Long Term Incentive Plan.
On October 2, 2006, Avantair
announced that it had signed an
agreement to be acquired by
publicly-traded Ardent
Acquisition Corp. The
transaction is expected to close
in the first quarter of 2007.
Avantair
operates 29 Piaggio Avanti II
twin-turboprop aircraft and
anticipates operating a fleet of
40 aircraft by the end of
FY2007. Flight crews primarily
train at Flightsafety’s West
Palm Beach training facility. At
the last year’s National
Business Aviation Association (NBAA)
Annual Meeting and Convention,
Avantair announced the order for
20 Embraer Phenom 100 executive
jets. Avantair’s firm contract
has an order value of $57
million. The Phenom 100 is
expected to enter service in
mid-2008 and Avantair is
scheduled to take delivery of
its first Embraer aircraft in
June 2009. |
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