Wesco Aircraft Holdings Inc. (WAIR) Monday announced the commencement of a public offering of 15 million common shares by affiliates of The Carlyle Group (CG).
In addition, the underwriters will have an option to purchase up to 2.25 million additional shares from Carlyle.
Upon completion of the offering, Carlyle will beneficially own about 41.0% of the outstanding common stock of Wesco Aircraft (or about 38.6% if the underwriters fully exercise their option to purchase additional shares).
Carlyle and the directors and officers of the company have entered into lock-up agreements placing certain restrictions on their sale or transfer of shares of common stock for a period of 75 days from the date of the offering.
The company is not selling any shares of common stock in the offering and will not receive any of the proceeds from the offering of shares by Carlyle.
Barclays Capital Inc., J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and William Blair & Company, L.L.C. are acting as joint book-running managers and Barclays Capital Inc. and J.P. Morgan Securities LLC are serving as representatives of the several underwriters.
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