WASHINGTON (dpa-AFX) - StandardAero, Inc. revealed Monday that it has priced an initial public offering of 46.5 million shares of its common stock between $20.00 and $23.00 per share, according to an amended Form S-1 filing with the U.S. Securities and Exchange Commission.
The Scottsdale, Arizona-based company expects its common stock to trade on the New York Stock Exchange (NYSE) under the symbol 'SARO.'
The underwriters may also exercise their option to purchase up to an additional 6.975 million shares from the selling stockholders, at the public offering price, less the underwriting discount, for 30 days after the date of this prospectus to cover sales of additional shares by the underwriters.
The company will not receive any proceeds from the sale of the shares by the selling stockholders, which are named as affiliates of The Carlyle Group Inc. and GIC Private Limited.
Certain funds and accounts managed by Blackrock, Inc., Janus Henderson Investors and Norges Bank Investment Management, a division of Norges Bank, have, severally and not jointly, indicated an interest in purchasing up to an aggregate of $275 million in shares of common stock in this offering at the IPO price.
StandardAero is one of the world's largest independent gas turbine engine and accessories maintenance, repair and overhaul (MRO) facilities.
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