NEW YORK, Sept. 30, 2024 (GLOBE NEWSWIRE) -- 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 Andreini
Investor Relations
FTAI Aviation Ltd.
(646) 734-9414
[email protected]