AerSale descends on secondary offering
16/08/2022 21:35
** AerSale Corp's ASLE.O shares falling ~12% in extended
trading after aviation products and services co announces
secondary offering
** Co says certain stockholders including PE firm Leonard
Green & Partners to sell 4.25 mln shares urn:newsml:reuters.com:*:nBw9t8bNVa
** Leonard Green is top ASLE investor with ~28 mln shares,
or 54% stake, per Refinitiv
** Cowen, RBC, Stifel and Truist acting as bookrunners for
offering to price later Tues/before market open Weds
** Bookrunners guiding investors to low teens pct discount
to stock's Tues close of $19.83, capital markets sources say
** ASLE on Aug 8 reported Q2 rev rose 52% yr/yr to $139.6
mln and adj EPS of 56 cents, easily surpassing Refinitiv IBES
estimates of ~$111 mln and 18 cents urn:newsml:reuters.com:*:nBw6MxLYsa
** Shares have gained ~12% YTD vs Nasdaq's .IXIC 16%
decline
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))