Press release
FTAI Aviation Ltd. Prices Its Public Offering of Preferred Shares
NEW YORK, March 08, 2023 (GLOBE NEWSWIRE) -- FTAI Aviation Ltd. (NASDAQ: FTAI) (the "Company" or "FTAI") announced today that it has priced its previously
About this update from Ftai Aviation Ltd.
[{"type":"text","content":"NEW YORK, March 08, 2023 (GLOBE NEWSWIRE) -- FTAI Aviation Ltd. (NASDAQ: FTAI) (the \"Company\" or \"FTAI\") announced today that it has priced its previously announced registered underwritten public offering of 2,600,000 Fixed-Rate Reset Series D Cumulative Perpetual Redeemable Preferred Shares, liquidation preference $25.00 per share (the \"Preferred Shares\"), at a public offering price of $25.00 per share for gross proceeds of approximately $65 million. The Company intends to apply to list the Preferred Shares on the Nasdaq Global Select Market under the symbol \"FTAIM\". The offering is expected to close on March 15, 2023, subject to customary closing conditions. In connection with the offering, the Company has granted the underwriters a 30-day option to purchase up to 390,000 additional Preferred Shares to cover over-allotments, if any. The Company intends to use the net proceeds from the sale of shares in this offering for general corporate purposes. Morgan Stanley, Citigroup, J.P. Morgan, Stifel, RBC Capital Markets 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\") on February 27, 2023. 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, 1585 Broadway New York, NY 10036, Attention: Equity Syndicate Desk, with a copy to the Legal 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 Avenue, New York, New York 10019, Attention: Investment Grade Syndicate Desk, telephone (212) 834-4533, Stifel, Nicolaus & Company...