AAR launches public offering of 3 million common shares

AAR Corp. (NYSE: AIR) announced it has commenced an underwritten registered public offering of 3 million shares of common stock. The aviation services provider also granted underwriters a 30-day option to purchase up to an additional 450,000 shares at the public offering price, less underwriting discounts and commissions.

The company plans to use net proceeds from 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 serving as joint book-running managers for the offering.

The offering is being conducted under a shelf registration statement on Form S-3 that was filed with the Securities and Exchange Commission and became automatically effective on July 19, 2023. The offering will be made through a preliminary prospectus supplement and accompanying base prospectus.

AAR is a global aerospace and defense aftermarket solutions company with operations in over 20 countries. The company, headquartered in the Chicago area, supports commercial and government customers through four operating segments: Parts Supply, Repair & Engineering, Integrated Solutions, and Expeditionary Services.

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