FTAI Aviation Announces Full Redemption of Outstanding 8.25% Fixed to Floating Rate Series A Cumulative Perpetual Redeemable Preferred Shares
30 September 2024 - 11:00PM
FTAI Aviation Ltd. (NASDAQ: FTAI; “FTAI Aviation” or the
“Company”) announced today that it will redeem all of the Company’s
outstanding 4,180,000 8.25% Fixed-to-Floating Rate Series A
Cumulative Perpetual Redeemable Preferred Shares (the “Series A
Shares”) at a redemption price equal to $25.00 per Series A Share
in cash, plus approximately $1,579,811 of accumulated and unpaid
distributions thereon to, but not including, the redemption date of
October 30, 2024 (the “Redemption”). The Series A Shares trade
under the ticker symbol “FTAIP.”
A Notice of Full Redemption for the Series A Shares describing
the Redemption procedures was sent to holders of the Series A
Shares on September 30, 2024. Additional information related to the
Redemption procedures, including copies of the Notice of Full
Redemption, may be obtained from Equiniti Trust Company, LLC by
calling 718-921-8317.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such jurisdiction.
ABOUT FTAI AVIATION
FTAI owns and maintains commercial jet engines with a focus on
the Maintenance, Repair, and Exchange (MRE) of CFM56 and V2500
engines. FTAI’s propriety portfolio of products, including the
Module Factory and a joint venture to manufacture engine PMA, helps
make CFM56 and V2500 engine maintenance simpler, more
cost-effective, significantly faster, and more environmentally
friendly. 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.
FORWARD-LOOKING STATEMENTS
Certain statements in this press release may constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including, but not
limited to, statements relating to the Redemption. These statements
are based on management’s current expectations and beliefs and are
subject to a number of trends and uncertainties that could cause
actual results to differ materially from those described in the
forward-looking statements, many of which are beyond the Company’s
control. The Company can give no assurance that its expectations
will be attained and such differences may be material. Accordingly,
you should not place undue reliance on any forward-looking
statements contained in this press release. For a discussion of
some of the risks and important factors that could affect such
forward-looking statements, see the sections entitled “Risk
Factors” and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” in the Company’s most recent
Annual Report on Form 10-K and Quarterly Reports on Form 10-Q,
which are available on the Company’s website
(www.ftaiaviation.com). In addition, new risks and uncertainties
emerge from time to time, and it is not possible for the Company to
predict or assess the impact of every factor that may cause its
actual results to differ from those contained in any
forward-looking statements. Such forward-looking statements speak
only as of the date of this press release. The Company expressly
disclaims any obligation to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in the Company’s expectations with regard
thereto or change in events, conditions, or circumstances on which
any statement is based.
Source: FTAI Aviation Ltd. Alan AndreiniInvestor RelationsFTAI
Aviation Ltd.(646) 734-9414aandreini@fortress.com
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