other material
confidence high
sentiment neutral
materiality 0.85
FTAI Infrastructure completes spin-off from FTAI, lists on Nasdaq under FIP
FTAI Infrastructure Inc.
- Distribution of FIP shares to FTAI shareholders on 1-for-1 basis; trading begins on Nasdaq.
- Issued $500M 10.5% Senior Secured Notes due 2027 at 94.585% issue price.
- Issued 300k shares of 14% Series A Preferred and 6.685M warrants for $300M net.
- Proceeds from debt and equity used to pay $730.34M cash dividend to FTAI and Master GP.
- Entered management agreement with FIG LLC (Fortress affiliate) and other ancillary agreements.