Chart Acquisition Corp. (NASDAQ: CACG; CACGW; CACGU) ("Chart") today announced that it has entered into an Agreement and Plan of Merger ("Merger Agreement") with Tempus Applied Solutions, LLC ("Tempus"), an aviation solutions company (the "Business Combination"). Pursuant to the terms of the Merger Agreement, Chart and Tempus will combine under a new holding company called Tempus Applied Solutions Holdings, Inc. ("Tempus Holdings"). Tempus is a recently-formed company that provides customized aircraft engineering, integration and operations solutions that support critical missions of the United States Department of Defense (DoD), U.S. intelligence agencies, foreign governments, heads of state and others worldwide. Tempus will design and implement special mission aircraft modifications related to intelligence, surveillance and reconnaissance systems, new generation command, control and communications systems and VIP interior components and provide ongoing operational support including flight crews and maintenance services to customers. In addition, it transitions undervalued and underutilized aircraft to alternative configurations that are then used for more profitable special mission purposes. Tempus is headquartered in Williamsburg, Virginia .
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