Air Lease Shareholders Selling 8 Million Shares

Aircraft leasing agent Air Lease  (NYSE: AL  )  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.


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Rich Duprey

Rich has been a Fool since 1998 and writing for the site since 2004. After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time.

Having made the streets safe for Truth, Justice and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. So follow me on Facebook and Twitter for the most important industry news in retail and consumer products and other great stories.


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