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By Preferred Stock Channel Staff, updated Saturday, May 17, 1:46 PM
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Free FTAI Email Alerts:
Preferred Stock Offerings
| This Slide: #37 of 641 |
Slide #37. FTAI Aviation Ltd. — Preferred Stock Offering
Company:
FTAI Aviation Ltd. (NASDAQ:FTAI)
Date announced:
3/8/2023
Shares Offered:
2,600,000
Date of Pricing:
3/9/2023
Price Per Share:
$25.00
Preferred Stock Offering Details:
FTAI Aviation Ltd. (NASDAQ:FTAI) (the "Company" or "FTAI") announced today its intention to offer Fixed-Rate Reset Series D Cumulative Perpetual Redeemable Preferred Shares, liquidation preference $25.00 per share (the "Preferred Shares"), in a registered underwritten public offering. The Company intends to apply to list the Preferred Shares on the Nasdaq Global Select Market under the symbol "FTAIM". In connection with the offering, the Company expects to grant to the underwriters a 30-day option to purchase up to an additional 15% of the Preferred Shares being offered to cover over-allotments, if any. -updated 3/9- 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.
FTAI Aviation Ltd. owns and maintains commercial jet engines with a focus on CFM56 and V2500 engines. Its segments include Aviation Leasing and Aerospace Products. The Aviation Leasing segment owns and manages aviation assets, including aircraft and aircraft engines, which it leases and sells to customers. The Aerospace Products segment develops and manufactures through a joint venture, and repairs and sells, through its maintenance facility and arrangements, aftermarket components for aircraft engines for the CFM56-7B, CFM56-5B and V2500 commercial aircraft engines.
Preferreds: FTAIP, FTAIO, FTAIN, FTAIM
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