FTAI Aviation prices $65M offering of 9.5% Series D preferred shares at $25/share

FTAI Aviation Ltd.

Offering of 2.6M 9.5% Series D cumulative perpetual preferred shares at $25/share; underwriters have 30-day option for 390,000 additional shares.
Expected closing March 15, 2023; net proceeds for general corporate purposes.
FIG LLC (Manager) will receive options equal to 10% of gross capital raised, exercisable over 30 months, expire in 10 years.
Underwriters include Morgan Stanley, Citigroup, J.P. Morgan, RBC, Stifel, UBS.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

FTAI Aviation Ltd. entered into Underwriting Agreement with Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, RBC Capital Markets, LLC, Stifel, Nicolaus & Company, Incorporated and UBS Securities LLC, as representatives of the underwriters (effective 2023-03-08).

Action: entry
Agreement: underwriting
Counterparty: Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, RBC Capital Markets, LLC, Stifel, Nicolaus & Company, Incorporated and UBS Securities LLC, as representatives of the underwriters
Effective: 2023-03-08

Exact text from the filing

On March 8, 2023, FTAI Aviation Ltd. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, RBC Capital Markets, LLC, Stifel, Nicolaus & Company, Incorporated and UBS Securities LLC, as representatives of the underwriters named therein (collectively, the “Underwriters”).

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FTAI Aviation Ltd. filing history →

Source: SEC EDGAR

accession 0001140361-23-011187

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