StandardAero (SARO) said late Monday that two of its stockholders intend to sell 30 million shares of the company's common stock in a secondary offering.
The selling stockholders, affiliates of The Carlyle Group and GIC, will receive all proceeds from the proposed offering, the company said. They expect to grant underwriters a 30-day option to purchase up to 4.5 million additional shares.
Shares of the company dropped 3% in after-hours activity.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.