AerSale dives on pricing secondary stock offering
16/11/2022 14:21
** AerSale Corp's ASLE.O shares down 13.9% at $15.29, over
4-month low, premarket after secondary offering prices
** Aviation products and services co announces 4 mln shares
sold by existing holders, predominantly Leonard Green & Partners
at $15.50 urn:newsml:reuters.com:*:nBwt1l3xa
** Offering price is 12.7% discount to stock's last close
** Co to repurchase 1.5 mln shares from selling stockholders
** Private equity firm Leonard Green sells ~3.9 mln shares,
taking its stake from ~46% to ~39%, per prospectus filing
** ASLE last week reported Q3 rev of $51 mln, below $73 mln
consensus estimate, and adj loss/sh of 3 cents vs Street view of
5 cents profit, per Refinitiv urn:newsml:reuters.com:*:nTUA5RQBCS
** Shares have fallen 16% this month through Tues close, and
are flat YTD
(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))