8-KMaterial AgreementsExhibits & Filings

FTAI Aviation Ltd. 8-K Report, Material Agreement (Jan 17, 2018)

Filed January 17, 2018For Securities:FTAIFTAIMFTAIN

Summary

FTAI Aviation Ltd. (FTAI) reported on January 17, 2018, the closing of a public offering of 7,000,000 common shares, raising approximately $128 million in net proceeds after deducting underwriting discounts and expenses. The offering was conducted under an automatic shelf registration statement and utilized an underwriting agreement with Morgan Stanley & Co. LLC, Barclays Capital Inc., and Citigroup Global Markets Inc. These net proceeds are designated for general corporate purposes, including the funding of future investments. In conjunction with the offering, the company also granted the underwriters an option to purchase an additional 1,050,000 shares, and granted an option to FIG LLC (the Manager) to purchase 700,000 shares, with potential for additional shares if the underwriters exercise their option. These manager options are subject to vesting schedules and specific conditions related to a change in control or termination of services.

Key Highlights

  • 1FTAI Aviation Ltd. successfully closed a public offering of 7,000,000 common shares.
  • 2The offering generated approximately $128 million in net proceeds for the company.
  • 3Proceeds are intended for general corporate purposes and future investments.
  • 4An underwriters' option to purchase up to an additional 1,050,000 shares was granted.
  • 5FIG LLC (the Manager) received an option to purchase 700,000 common shares.
  • 6The underwriting syndicate included Morgan Stanley, Barclays Capital, and Citigroup.
  • 7The offering was conducted under an automatic shelf registration statement.

Frequently Asked Questions

This 8-K filing primarily announces the entry into a material definitive agreement, specifically the underwriting agreement for a public offering of common shares, and reports on its completion and the net proceeds received by FTAI Aviation Ltd.

FTAI Aviation Ltd. raised approximately $128 million in net proceeds from the sale of 7,000,000 common shares after accounting for underwriting discounts, commissions, and estimated offering expenses.

The company intends to use the net proceeds from the offering for general corporate purposes, which includes the funding of future investments.

Yes, the filing mentions an underwriter's option for up to 1,050,000 additional shares and an option granted to FIG LLC (the Manager) for 700,000 shares, with provisions for additional shares for the Manager if the underwriter's option is exercised. These options could lead to future dilution if exercised.