AerSale Announces $45 Million Share Repurchase from Major Shareholder
AerSale (NASDAQ: ASLE) has announced a significant share repurchase agreement to buy back approximately 6.428 million shares from Leonard Green & Partners at $7.00 per share, totaling $45 million. The transaction, expected to close around March 18, 2025, will reduce the company's outstanding share count by approximately 12%.
Concurrent with this announcement, Jonathan Seiffer will step down from the Board of Directors effective immediately. The share repurchase will be funded through available cash and the company's revolving credit facility, following an amendment to its credit agreement on March 14, 2025.
AerSale (NASDAQ: ASLE) ha annunciato un importante accordo di riacquisto di azioni per riacquistare circa 6,428 milioni di azioni da Leonard Green & Partners a 7,00 $ per azione, per un totale di 45 milioni di dollari. La transazione, prevista per chiudere intorno al 18 marzo 2025, ridurrà il numero di azioni in circolazione della società di circa il 12%.
In concomitanza con questo annuncio, Jonathan Seiffer si dimetterà immediatamente dal Consiglio di Amministrazione. Il riacquisto delle azioni sarà finanziato tramite liquidità disponibile e la linea di credito revolving della società, a seguito di una modifica del contratto di credito del 14 marzo 2025.
AerSale (NASDAQ: ASLE) ha anunciado un importante acuerdo de recompra de acciones para recomprar aproximadamente 6.428 millones de acciones de Leonard Green & Partners a $7.00 por acción, totalizando 45 millones de dólares. La transacción, que se espera cierre alrededor del 18 de marzo de 2025, reducirá el número de acciones en circulación de la compañía en aproximadamente un 12%.
Concurrentemente con este anuncio, Jonathan Seiffer renunciará de inmediato a la Junta Directiva. La recompra de acciones se financiará a través de efectivo disponible y la línea de crédito revolvente de la compañía, tras una enmienda a su acuerdo de crédito el 14 de marzo de 2025.
AerSale (NASDAQ: ASLE)는 Leonard Green & Partners로부터 약 642만 8천 주를 주당 7.00 달러에 재매입하는 중요한 주식 재매입 계약을 발표했습니다. 총 금액은 4,500만 달러입니다. 이 거래는 2025년 3월 18일경에 마감될 것으로 예상되며, 회사의 유통 주식 수를 약 12% 줄일 것입니다.
이 발표와 동시에, Jonathan Seiffer는 즉시 이사회에서 사임할 것입니다. 주식 재매입은 사용 가능한 현금과 회사의 회전 신용 시설을 통해 자금이 조달되며, 2025년 3월 14일 신용 계약의 수정 후에 이루어질 것입니다.
AerSale (NASDAQ: ASLE) a annoncé un accord significatif de rachat d'actions pour racheter environ 6,428 millions d'actions de Leonard Green & Partners à 7,00 $ par action, pour un total de 45 millions de dollars. La transaction, qui devrait être finalisée aux alentours du 18 mars 2025, réduira le nombre d'actions en circulation de la société d'environ 12 %.
En parallèle de cette annonce, Jonathan Seiffer démissionnera immédiatement du Conseil d'Administration. Le rachat d'actions sera financé par les liquidités disponibles et la ligne de crédit renouvelable de la société, suite à un amendement à son accord de crédit du 14 mars 2025.
AerSale (NASDAQ: ASLE) hat eine bedeutende Vereinbarung zum Rückkauf von Aktien angekündigt, um etwa 6,428 Millionen Aktien von Leonard Green & Partners zu einem Preis von 7,00 $ pro Aktie zurückzukaufen, was insgesamt 45 Millionen Dollar ausmacht. Die Transaktion, die voraussichtlich um den 18. März 2025 abgeschlossen wird, wird die Anzahl der ausstehenden Aktien des Unternehmens um etwa 12% reduzieren.
Zeitgleich mit dieser Ankündigung wird Jonathan Seiffer mit sofortiger Wirkung aus dem Vorstand zurücktreten. Der Rückkauf der Aktien wird durch verfügbare liquide Mittel und die revolvierende Kreditfazilität des Unternehmens finanziert, nach einer Änderung des Kreditvertrags am 14. März 2025.
- 12% reduction in outstanding shares strengthens shareholder value
- $45 million share repurchase demonstrates financial capacity
- Strategic buyback helps mitigate market volatility
- Significant cash outlay of $45 million impacts available funds
- Increased leverage due to use of revolving credit facility for funding
Concurrent with the announced stock transaction, the Company also announced that Jonathan Seiffer will step down from the Board of Directors, effective immediately.
Nick Finazzo, AerSale’s Chief Executive Officer, commented, “This strategic repurchase allows us to strengthen shareholder value by significantly reducing our share count, while mitigating market volatility as Leonard Green & Partners L.P. transitions out of its long-term role as a major shareholder in AerSale.”
Finazzo continued, “On behalf of the board and management team, I would like to extend our gratitude to Jon for his dedication and leadership over the past 15 years. His insights and guidance have been invaluable to our success.”
Jon Seiffer added, “It has been a privilege to partner with AerSale since our initial investment in 2010. The company’s growth and achievements over the years have been remarkable, and I am thankful for the collaboration and support from the entire AerSale team. I look forward to watching their continued success.”
The terms of the transaction were approved by the Company’s Board of Directors. Further, the Company amended the terms of its credit agreement on March 14, 2025, to allow for the repurchase of shares. The repurchase will be funded with cash available on the Company’s balance sheet and availability on its revolving credit facility.
About AerSale
AerSale serves airlines operating large jets manufactured by Boeing, Airbus and McDonnell Douglas and is dedicated to providing integrated aftermarket services and products designed to help aircraft owners and operators to realize significant savings in the operation, maintenance and monetization of their aircraft, engines, and components. AerSale’s offerings include: Aircraft & Component MRO, Aircraft and Engine Sales and Leasing, Used Serviceable Material sales, and internally developed ‘Engineered Solutions’ to enhance aircraft performance and operating economics (e.g. AerSafe™, AerTrak™, and now AerAware™).
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Media Contacts:
For more information about AerSale, please visit our website: www.AerSale.com.
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AerSale: Jackie Carlon
Telephone: (305) 764-3200
Email: media.relations@aersale.com
Investor Contact:
AerSale: AersaleIR@icrinc.com
Source: AerSale Corporation
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