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Adam Needs an Immediate $ 25 Million

Adam Needs an Immediate $ 25 Million

Adam Aircraft faces "liquidation" if it doesn´t raise $ 25 million by the end of January. In a letter to shareholders, CEO John Wolf said that without the immediate cash injection, Adam will have to take action to meet the terms of agreements with "senior lenders".

Wolf said in the letter that company needs $ 25 million (the full total was $ 30.5 million but $ 5.5 million has already been raised) to recover any of money to investors. But he´s also hopeful that if the money is found, Adam will rebound on the certification and sales of its A500 twin and the future sales of its A700 light jet.

/ Новости