Air Lease (ALC) announced the commencement of an underwritten public offering of 8 million shares of its Class A common stock by affiliates of Ares Management, Leonard Green & Partners and WL Ross & Co.
The underwriters are expected to be granted a 30-day option from the date of the offering to purchase up to an additional 1.2 million shares of Class A common stock from the selling stockholders. Air Lease 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.
Credit Suisse Securities (USA) and Goldman, Sachs & Co. will act as joint book-running managers for the offering. The Class A common stock is being offered pursuant to a registration statement that the company previously filed with the U.S. Securities and Exchange Commission.