Air Lease sells 34.8 million shares
The underwriters for Air Lease Corporation’s initial public offering have exercised in full their over-allotment option to purchase an additional 4,542,450 shares of the company’s Class A common stock.
The company sold a total of approximately 34.8 million shares of its Class A common stock, raising approximately $868m in net proceeds. Air Lease Corporation’s stock closed at $27.95 a share on the New York Stock Exchange yesterday (April 19), up 5.5 per cent from its initial public offering price of $26.50. J.P. Morgan Securities, Credit Suisse Securities (USA), Barclays Capital, FBR Capital Markets & Co., RBC Capital Markets, and Wells Fargo Securities, are acting as joint book-running managers for the offering, with Macquarie Capital (USA), Scotia Capital (USA), and SG Americas Securities acting as co-managers.
