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AAR CORP. ("AAR" or the "Company") (NYSE:AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, announced today that it has commenced an underwritten registered public offering of 3,000,000 shares of its common stock. In addition, the Company intends to grant the underwriters a 30-day option to purchase up to an additional 450,000 shares of the Company's common stock at the public offering price, less underwriting discounts and commissions.
The Company intends to use the net proceeds of the offering to repay outstanding borrowings under its unsecured revolving credit facility and for general corporate purposes, which may include funding future acquisitions.
Goldman Sachs & Co. LLC, Jefferies and RBC Capital Markets, LLC are acting as joint book-running managers for the offering.
Posted In: AIR
