Why AerSale Stock Is Falling Today
The private equity firm that once controlled aircraft maintenance services provider AerSale (NASDAQ: ASLE) is selling down its ownership stake, and investors are not pleased to see the sale. Shares of AerSale traded down as much as 14% on Wednesday following the announcement.
Leonard Green & Partners took control of AerSale in 2010, investing in the owner of used aircraft, spare engines, and other components and helping to grow the business. AerSale went public in 2020 via a deal with a special purpose acquisition corporation (SPAC), and has slowly been selling down its stake in the quarters since.
In this latest offering, certain AerSale holders, including affiliates of Leonard Green, will sell 4 million to 4.6 million shares into the market. The deal would reduce Green's ownership stake to 38.1%, from 45.6%.
Source Fool.com
