FTAI Aviation Ltd. Announces Closing of Merger Transaction
11 November 2022 - 11:00PM
FTAI Aviation Ltd. (NASDAQ: FTAI), a Cayman Islands exempted
company (“FTAI” or the “Company”), announced today the closing of a
previously announced merger transaction by and among FTAI, Fortress
Transportation and Infrastructure Investors LLC and FTAI Aviation
Merger Sub LLC. The execution of a definitive merger agreement
outlining the terms of the transaction was initially announced on
August 15, 2022. As a result of the merger, shares of Fortress
Transportation and Infrastructure Investors LLC were exchanged
automatically for shares of FTAI without any further action from
the shareholders and Fortress Transportation and Infrastructure
Investors LLC became a subsidiary of FTAI. The ordinary shares and
preferred shares of the Company continue to trade on Nasdaq under
the ticker symbols ‘‘FTAI,’’ ‘‘FTAIP,’’ ‘‘FTAIO’’ and ‘‘FTAIN,’’
respectively. In connection with the merger, newly
acquired FTAI shares will no longer be subject to Schedule K-1
reporting. Shareholders who held shares in 2022 prior to the merger
will receive a final K-1 in 2023.
About FTAI Aviation Ltd.
FTAI owns and maintains commercial jet engines with a focus on
CFM56 engines. FTAI’s propriety portfolio of products, including
The Module Factory and a JV to manufacture engine PMA, enables it
to provide cost savings and flexibility to our airline, lessor, and
MRO customer base. Additionally, FTAI owns and leases jet aircraft
which often facilitates the acquisition of engines at attractive
prices. FTAI invests in aviation assets and aerospace products that
generate strong and stable cash flows with the potential for
earnings growth and asset appreciation.
Cautionary Language Regarding Forward-Looking
Statements
This communication contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995, including but not limited to information regarding the
transactions contemplated by the spin-off and the commencement of
trading. Forward-looking statements are not statements of
historical fact but instead are based on our present beliefs and
assumptions and on information currently available to FTAI. You can
identify these forward-looking statements by the use of
forward-looking words such as “outlook,” “believes,” “expects,”
“potential,” “continues,” “may,” “will,” “should,” “could,”
“seeks,” “approximately,” “predicts,” “intends,” “plans,”
“estimates,” “anticipates,” “target,” “projects,” “contemplates” or
the negative version of those words or other comparable words. Any
forward-looking statements contained in this communication are
based upon our historical performance and on our current plans,
estimates and expectations in light of information currently
available to us. The inclusion of this forward-looking information
should not be regarded as a representation by us that the future
plans, estimates or expectations contemplated by us will be
achieved. Such forward-looking statements are subject to various
risks and uncertainties and assumptions relating to our operations,
financial results, financial condition, business, prospects, growth
strategy and liquidity. Accordingly, there are or will be important
factors that could cause our actual results to differ materially
from those indicated in these statements, including, but not
limited to, the risk factors set forth in Item 1A. “Risk Factors”
of FTAI’s Annual Report on Form 10-K for the fiscal year ended
December 31, 2021 and FTAI’s Quarterly Report on Form 10-Q for the
fiscal quarter ended September 30, 2022, as updated by annual,
quarterly and other reports FTAI files with the SEC, which are
available on FTAI’s website (www.ftaiaviation.com). In addition,
new risks and uncertainties emerge from time to time, and it is not
possible for FTAI to predict or assess the impact of every factor
that may cause its actual results to differ from those contained in
any forward-looking statements. Such forward-looking statements
speak only as of the date of this press release. FTAI expressly
disclaims any obligation to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in FTAI’s expectations with regard thereto or
change in events, conditions or circumstances on which any
statement is based. This release shall not constitute an offer to
sell or the solicitation of an offer to buy any securities.
For further information, please contact:
Alan AndreiniInvestor RelationsFTAI Aviation Ltd.(646)
734-9414aandreini@fortress.com
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