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.
The Company intends to use the net proceeds from the sale of the
shares in this offering for general corporate purposes.
Morgan Stanley, Citigroup, J.P. Morgan, Stifel, RBC 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
will be 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: prospectus@morganstanley.com,
Citigroup Global Markets Inc., c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, NY 11717, telephone: (800)
831-9146, email: prospectus@citi.com, 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, Incorporated, One South Street, 15th Floor,
Baltimore, Maryland 21202; Attention: Syndicate Department,
telephone: (855) 300-7136, email: syndprospectus@stifel.com, RBC
Capital Markets, LLC, 200 Vesey Street, 8th Floor, New York, New
York 10281, Attention: Transaction Management/Scott Primrose,
telephone: (212) 618 7706, email: TMGUS@rbccm.com or UBS Securities
LLC, 1285 Avenue of the Americas, New York, New York 10019,
Attention: Prospectus Department, telephone: (888)-827-7275.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
other jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
About FTAI Aviation Ltd.
FTAI Aviation Ltd. owns and maintains commercial jet engines
with a focus on CFM56 engines. FTAI’s propriety portfolio of
products, including The Module Factory and a JV to manufacture
engine parts manufacturer approval, enables it to provide cost
savings and flexibility to our airline, lessor, and maintenance,
repair and overhaul customer base. Additionally, FTAI owns and
leases jet aircraft which often facilitates the acquisition of
engines at attractive prices. FTAI invests in aviation assets and
aerospace products that generate strong and stable cash flows with
the potential for earnings growth and asset appreciation.
Cautionary Language Regarding Forward-Looking
Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995, including but not limited to the Company's anticipated use of
the net proceeds from the offering. Forward-looking statements are
not statements of historical fact but instead are based on our
present beliefs and assumptions and on information currently
available to us. You can identify these forward-looking statements
by the use of forward-looking words such as "outlook", "believes",
"expects", "potential", "continues", "may", "will", "should",
"could", "seeks", "approximately", "predicts", "intends", "plans",
"estimates", "anticipates", "target", "projects", "contemplates" or
the negative version of those words or other comparable words. Any
forward-looking statements contained in this press release are
based upon our historical performance and on our current plans,
estimates and expectations in light of information currently
available to us. The inclusion of this forward-looking information
should not be regarded as a representation by us that the future
plans, estimates or expectations contemplated by us will be
achieved. Such forward-looking statements are subject to various
risks and uncertainties and assumptions relating to our operations,
financial results, financial condition, business, prospects, growth
strategy and liquidity. Accordingly, there are or will be important
factors that could cause our actual results to differ materially
from those indicated in these statements, including, but not
limited to, the risk factors set forth in Item 1A. "Risk Factors"
of the Company's Annual Report on Form 10-K for fiscal year ended
December 31, 2022, as updated by annual, quarterly and other
reports the Company files with the SEC.
For further information, please contact:
Alan AndreiniInvestor RelationsFTAI Aviation Ltd.(646)
734-9414aandreini@fortress.com
Source: FTAI Aviation Ltd.
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