Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Wed, September 28, 5:24 AM
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Slide #63. Fortress Transportation and Infrastructure Investors LLC — Preferred Stock Offering
Fortress Transportation and Infrastructure Investors LLC (FTAI.PRC)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI) (the "Company" or "FTAI") announced today that it has priced its previously announced registered underwritten public offering of 4,000,000 Fixed-Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares, liquidation preference $25.00 per share, representing limited liability company interests (the "Preferred Shares"), at a public offering price of $25.00 per share for gross proceeds of approximately $100 million. The Company intends to apply to list the Preferred Shares on the New York Stock Exchange under the symbol "FTAI PR C". The offering is expected to close on March 25, 2021, subject to customary closing conditions. In connection with the offering, the Company has granted the underwriters a 30-day option to purchase up to 600,000 additional Preferred Shares to cover over-allotments, if any.
Fortress Transportation and Infrastructure Investors is engaged in the acquiring, managing and disposing of transportation and transportation-related infrastructure and equipment assets. Co. invests across four market sectors in the transportation industry, including aviation, energy, intermodal transport and ports and terminals. Co.'s operations consist of two primary business units: Infrastructure and Equipment Leasing. Co.'s Infrastructure Business acquires long-lived assets that provide services or functions to transportation networks. Co.'s Equipment Leasing Business acquires assets that are designed to carry cargo or people or provide functionality to transportation infrastructure.
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