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ALC prices IPO to raise $805m
19 April 2011
The lessor's initial public offering (IPO) priced yesterday at $26.50 per share.
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Air Lease Corporation (ALC)
New York Stock Exchange (NYSE)
initial public offering (IPO)
JP Morgan
Credit Suisse
Barclays
Air Lease Corporation's (ALC) shares began trading on the New York Stock Exchange today after the company's shares priced yesterday at $26.50. The pricing is at the mid-point of the offered range between $25 and $28 per share.
The Los Angeles-based lessor will offer 30,283,020 shares of Class A common stock shares. It will also grant underwriters an option to purchase up to an additional 4,542,450 shares of Class A common stock to cover over-allotments.
In a SEC filing the lessor said it planned to raise up to $805 million, which it will use to acquire commercial aircraft and for general corporate purposes.
J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Barclays Capital Inc., FBR Capital Markets & Co., RBC Capital Markets, LLC and Wells Fargo Securities, LLC are joint...
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