Willis Lease Finance (WLFC) to Repurchase 1.3 Million Shares of its Stock from FlightTechnics
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Willis Lease Finance Corporation (NASDAQ: WLFC) reported it has agreed to repurchase 1.3 million shares of its common stock, or 14% of shares outstanding, at $9.00 per share from FlightTechnics, LLC. The closing of this sale is expected to occur within five days.
"This transaction provides significant benefits for our shareholders and underscores our belief in the future of Willis Lease," said Charles F. Willis, President and CEO. "I am very pleased that W. William Coon, who has been FlightTechnics nominee on our Board of Directors, has agreed to remain on the Board after this sale."
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