AeroCentury (ACY) Announces 5-for-1 Forward Stock Split

AeroCentury Corp. (NYSE American: ACY), today announced that it plans to file a Certificate of Amendment to the Certificate of Incorporation of the Company (the "Certificate of Amendment") to implement a 5-for-1 forward stock split of its issued and outstanding shares of common stock (the "Stock Split"). Each shareholder of record as of December 30, 2021, the record date, will receive four (4) additional shares of common stock for each share held as of the record date. No fractional shares of common stock will be issued in connection with the Stock Split. Instead, all shares will be rounded up to the next whole share. The payment date for the Stock Split will be January 7, 2022 and the Company's common stock is expected to begin trading on a split-adjusted basis when the market opens on January 10, 2022.

The Company currently has a total of 4,416,811 shares of common stock issued and outstanding. Following the proposed Stock Split, the Company will have a total of 22,084,055 shares of common stock issued and outstanding. The number of authorized shares of all classes of stock of the Company will not be reduced as a result of the Stock Split and the Stock Split will not reduce the number of outstanding shares of the Company's preferred stock. The par value of the common stock will also not be affected by the Stock Split. Each stockholder of the Company will hold the same percentage of common stock outstanding immediately following the Stock Split as such stockholder held immediately prior to the Stock Split.

The Company anticipates that the Stock Split will increase liquidity in the trading of the Company's common stock and will make its shares more accessible to investors.

The Stock Split was approved by the Company's Board of Directors on November 22, 2021, and approved by the written consent by the Company's stockholders representing approximately 65.0% of the Company's voting stock (the "Consenting Stockholders") on November 30, 2021. To implement the Stock Split, the Board of Directors and Consenting Stockholders further approved an increase in the number of authorized shares of common stock of the Company from 13,000,000 to 40,000,000, which will also be effected by the filing of the Certificate of Amendment. No other stockholder approval is required or necessary.

The Company's CUSIP number and trading symbol will remain the same after effecting the proposed Stock Split.

Stockholders of AeroCentury who hold certificated shares will not be required to exchange their existing stock certificates. Stockholders who hold their shares in book-entry form with our transfer agent will not be required to take any action.

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