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Stock Market & Financial Investment News

News Breaks
November 12, 2012
19:05 EDTACYAerocentury reports Q3 EPS 71c, may not compare to one estimate (69c)
Reports Q3 revenue $7.08M, one estimate $5.6M.
News For ACY From The Last 14 Days
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December 16, 2014
18:01 EDTACYAeroCentury announces purchase, leaseback of 2 Bombardier CRJ900s
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December 5, 2014
16:05 EDTACYLee Beaumont reports 9.7% stake in AeroCentury, urges merger with BeauTech
Lee Beaumont acquired shares of Common Stock of the company because he believes that it is currently undervalued. Beaumont initially acquired the shares of Common Stock for investment purposes. Recently, however, following general discussions with the CEO of company, Beaumont began exploring strategic alternatives that may be available to the company and ultimately decided to make a proposal. Accordingly, on December 5, Beaumont sent a letter to the Board of Directors of the company outlining the proposed terms of a transaction between the company and BeauTech. Pursuant to the Letter, BeauTech proposes to enter into a merger agreement with the company to exchange all of the outstanding Common Stock of the company for $12.50 per share in cash, which price represents a premium of approximately 50% to the closing price of the companyís stock on December 3. The consummation of the merger would be contingent upon (i) the satisfactory completion of customary due diligence, (ii) the negotiation of definitive merger documentation, (iii) the termination of the companyís management agreement with Jetfleet Management Corporation, (iv) receipt of all necessary consents from banks, lessees, etc., and (v) the approval by the Board and the shareholders of the company. Beaumontís proposal under the Letter will remain in force until December 15.

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