FTAI Infrastructure completes $1.05B acquisition of Wheeling Corporation and secures $1.25B bridge financing

FTAI Infrastructure Inc.

• Acquired Wheeling Corporation for $1.05 billion in cash, subject to customary adjustments, via subsidiary FIP RR Holdings.
• Entered into a $1.25 billion 364-day secured bridge loan facility with Barclays as administrative agent, maturing August 24, 2026.
• Issued 1,000,000 Series A Preferred Units and warrants to funds managed by Ares Management for $1.0 billion.
• Redeemed all $600 million 10.500% Senior Secured Notes due 2027 at 105.250% of principal plus accrued interest.
• Redeemed all 300,000 shares of Series A Senior Preferred Stock for approximately $447.1 million in cash.