Air Lease Corp. (AL) engaged in purchase and leasing of commercial aircraft to airlines, Friday announced the pricing of the underwritten public offering of 8 million shares of its Class A Common Stock at $26.75 per share, by affiliates of Ares Management LLC, Leonard Green & Partners, L.P. and WL Ross & Co. LLC. The underwriter will have a 30-day option from the date of the offering to purchase up to an additional 800 thousand shares of Class A Common Stock from certain selling stockholders. Subject to customary closing conditions, the offering is expected to close on June 5.
The Company said that it is not selling any shares of Class A Common Stock in the offering and will not receive any proceeds from the sale. The total number of shares of the Company's Class A Common Stock outstanding will not change as a result of this offering, the company said. Credit Suisse Securities (USA) LLC is acting as the book-running manager for the offering.
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