Press release
Fortress Transportation and Infrastructure Investors LLC Prices Its Public Offering of Preferred Shares
NEW YORK, March 18, 2021 (GLOBE NEWSWIRE) -- Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI) (the “Company” or “FTAI”) announced today
About this update from Ftai Aviation Ltd.
[{"type":"text","content":"NEW YORK, March 18, 2021 (GLOBE NEWSWIRE) -- Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI) (the “Company” or “FTAI”) announced today that it has priced its previously announced registered underwritten public offering of 4,000,000 Fixed-Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares, liquidation preference $25.00 per share, representing limited liability company interests (the “Preferred Shares”), at a public offering price of $25.00 per share for gross proceeds of approximately $100 million. The Company intends to apply to list the Preferred Shares on the New York Stock Exchange under the symbol “FTAI PR C”. The offering is expected to close on March 25, 2021, subject to customary closing conditions. In connection with the offering, the Company has granted the underwriters a 30-day option to purchase up to 600,000 additional Preferred Shares to cover over-allotments, if any. The Company intends to use the net proceeds from this offering for general corporate purposes, including the funding of future acquisitions and investments, including aviation investments. Morgan Stanley, Citigroup, J.P. Morgan, Stifel and UBS Investment Bank are acting as joint book-running managers for the proposed offering. The offering is being made pursuant to the Company’s effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission (“SEC”). The offering is being made only by means of a prospectus and a related prospectus supplement. Prospective investors should read the prospectus supplement and the prospectus in that registration statement and other documents the Company has filed or will file with the SEC for more complete information about the Company and the offering. You may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the prospectus and prospectus supplement may be obtained from Morgan Stanley & Co. LLC, 180 Varick Street - New York, NY 10014, Attention: Prospectus Department, telephone (866) 718-1649, email: [email protected]; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (800) 831-9146, email: [email protected], J.P. Morgan Securities LLC, 383 Madison Ave, New York, NY 10179, Attn – Investment Grade Syndic...