Fortress Transportation and Infrastructure Investors LLC Announces Proposed Public Offering of Preferred Shares
September 05 2019 - 9:52AM
Fortress Transportation and Infrastructure Investors LLC
(NYSE:FTAI) (the “Company”) announced today its intention to offer
Fixed-to-Floating Rate Series A Cumulative Perpetual Redeemable
Preferred Shares, liquidation preference $25.00 per share,
representing limited liability company interests (the “Preferred
Shares”), in a registered underwritten public offering. The
Company intends to apply to list the Preferred Shares on the New
York Stock Exchange under the symbol “FTAI PR A.” In
connection with the offering, the Company expects to grant to the
underwriters a 30-day option to purchase up to an additional 15% of
the Preferred Shares being offered to cover over-allotments, if
any.
The Company intends to use the net proceeds from this offering
for general corporate purposes, including the funding of future
acquisitions and investments.
Morgan Stanley, J.P. Morgan, UBS Investment Bank and Stifel are
acting as joint book-running managers for the proposed
offering.
The offering is being made pursuant to the Company’s effective
shelf registration statement on Form S-3 filed with the Securities
and Exchange Commission (“SEC”). The offering will be made
only by means of a prospectus and a related prospectus
supplement. Prospective investors should read the prospectus
supplement and the prospectus in that registration statement and
other documents the Company has filed or will file with the SEC for
more complete information about the Company and the offering.
You may obtain these documents for free by visiting EDGAR on the
SEC’s website at www.sec.gov. Alternatively, copies of the
prospectus and prospectus supplement may be obtained from Morgan
Stanley & Co. LLC, 180 Varick Street - New York, NY 10014,
Attention: Prospectus Department, telephone (866) 718-1649, email:
prospectus@morganstanley.com; J.P. Morgan Securities LLC, 383
Madison Ave, New York, NY 10179, Attn – Investment Grade Syndicate
Desk, telephone (212) 834-4533; UBS Securities LLC, Attention:
Prospectus Department, 1285 Avenue of the Americas, New York, New
York 10019, telephone (888) 827-7275; or Stifel, Nicolaus &
Company, Incorporated, Attention: Syndicate Department, One South
Street, 15th Floor, Baltimore, MD 21202, telephone: (855) 300-7136,
email: syndprospectus@stifel.com.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
other jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
About Fortress Transportation and Infrastructure
Investors LLCFortress Transportation and Infrastructure
Investors LLC owns and acquires high quality infrastructure and
equipment that is essential for the transportation of goods and
people globally. FTAI targets assets that, on a combined
basis, generate strong and stable cash flows with the potential for
earnings growth and asset appreciation. FTAI is externally
managed by an affiliate of Fortress Investment Group LLC, a
leading, diversified global investment firm.
Cautionary Language Regarding Forward-Looking
StatementsThis press release contains “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, including but not limited to the Company’s
anticipated use of the net proceeds from the offering.
Forward-looking statements are not statements of historical fact
but instead are based on our present beliefs and assumptions and on
information currently available to the Company. You can
identify these forward- looking statements by the use of
forward-looking words such as “outlook,” “believes,” “expects,”
“potential,” “continues,” “may,” “will,” “should,” “could,”
“seeks,” “approximately,” “predicts,” “intends,” “plans,”
“estimates,” “anticipates,” “target,” “projects,” “contemplates” or
the negative version of those words or other comparable
words. Any forward-looking statements contained in this press
release are based upon our historical performance and on our
current plans, estimates and expectations in light of information
currently available to us. The inclusion of this
forward-looking information should not be regarded as a
representation by us, that the future plans, estimates or
expectations contemplated by us will be achieved. Such
forward-looking statements are subject to various risks and
uncertainties and assumptions relating to our operations, financial
results, financial condition, business, prospects, growth strategy
and liquidity. Accordingly, there are or will be important
factors that could cause our actual results to differ materially
from those indicated in these statements, including, but not
limited to, the risk factors set forth in Item 1A. “Risk
Factors” of the Company’s Annual Report on Form 10-K for fiscal
year ended December 31, 2018 and Quarterly Report on Form 10-Q for
the fiscal quarter ended June 30, 2019, as updated by annual,
quarterly and other reports the Company files with the SEC.
For further information, please contact:
Alan Andreini Investor Relations Fortress Transportation and
Infrastructure Investors LLC (212) 798-6128
aandreini@fortress.com
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