Aircraft leasing agent Air Lease (AL -0.78%) says several private equity investors are offering 8 million shares of its Class A common stock.
While the offering's underwriters have been granted a 30-day option to buy up to an additional 1.2 million shares from the sellers, the total number of shares of Air Lease's Class A shares outstanding will not change as a result of this offering.
Affiliates of Ares Management, Leonard Green & Partners, and WL Ross & Co are the selling investors. Air Lease stressed it is not party to the sale and it will receive no proceeds from the issue.
As of May 28, the company had a total of 101,284,678 shares of Class A Common Stock and Class B Non-Voting Common Stock outstanding. The joint book-running managers of the offering are Credit Suisse Securities and Goldman Sachs.
