FTAI Aviation (NASDAQ: FTAI) withdraws 8.25% Series C preferred listing
Rhea-AI Filing Summary
FTAI Aviation Ltd. is notifying the removal of its 8.25% Fixed-Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares from the Nasdaq Stock Market. The filing states the removal follows Nasdaq rules and the issuer's compliance with the procedures governing a voluntary withdrawal of the class from listing and registration.
The notification is executed by Nasdaq on behalf of the exchange and signed by an authorized officer; the exchange certifies it has reasonable grounds for the Form 25 filing. No offering amounts, proceeds, or other financing terms are included in the excerpt provided.
Positive
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Negative
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Insights
Nasdaq and the issuer completed a voluntary delisting process for a Series C preferred class.
Nasdaq's Form 25 filing identifies the class as 8.25% Fixed-Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares and cites compliance with rule 12d2-2 procedures. The exchange certifies it has reasonable grounds to file.
Timing and post-delisting trading mechanics are not described in the excerpt; subsequent disclosures or exchange notices would show the effective delisting date and any plan for remaining holders.
The filing documents a procedural, voluntary withdrawal rather than a regulatory enforcement action.
The text states the issuer and exchange each "complied with" the rules governing voluntary withdrawal under 17 CFR 240.12d2-2(c). That language frames this as an administrative delisting process where procedural requirements were met.
Legal consequences for holders (redemption mechanics, conversion rights) are not provided in this excerpt; governance documents and the certificate of designation govern those rights and may be referenced in separate filings.