AerSale Reminds Investors of Cashless Redemption of Public Warrants

By: AerSale Corporation via Business Wire

December 15, 2021 at 08:05 AM EST

Approximately 3.75 million public warrants remain unexercised as of December 14, 2021
Deadline for cashless redemption of public warrants is 5:00 p.m. ET on December 29, 2021

AerSale Corporation (Nasdaq: ASLE) (“AerSale” or the “Company”) today announced that as of December 14, 2021, approximately 13.5 million of the total approximately 17.25 million outstanding public warrants (“Public Warrants”) to purchase shares of AerSale’s common stock (the “Common Stock”) that were issued under the Warrant Agreement, dated as of February 6, 2019 (the “Warrant Agreement”), by and between the Company (f/k/a Monocle Acquisition Corporation), and Continental Stock Transfer & Trust Company, as warrant agent (the “Warrant Agent”), had been exercised since the Company’s announcement on November 29, 2021 of the cashless redemption of the Public Warrants.

The Public Warrants were originally issued in connection with the Company’s initial public offering in February 2019 (the “IPO”). As previously announced on November 29, 2021, the Company provided notice to the holders of Public Warrants that such Public Warrants will be redeemed on December 29, 2021 (the “Redemption Date”) for a Redemption Price of $0.01 per Public Warrant, in accordance with their terms. Holders of the Public Warrants have until 5:00 p.m. Eastern Time on December 29, 2021 to exercise their Public Warrants, which may be done only on a cashless basis. Warrants to purchase Common Stock that were issued under the Warrant Agreement in a private placement simultaneously with the IPO are not subject to this redemption.

As a courtesy, AerSale would like to remind any remaining holders of Public Warrants that if any of the remaining approximately 3.75 million Public Warrants are not exercised prior to 5:00 p.m. Eastern Time on December 29, 2021, such unexercised Public Warrants will be delisted, void and no longer exercisable, and the holders will have no rights with respect to those Public Warrants, except to receive the Redemption Price of $0.01 per Public Warrant. The Public Warrants will cease trading on Nasdaq at 5:00 p.m. Eastern Time on the Redemption Date.

If you hold Public Warrants, you may need to take action before December 29, 2021. Please see our warrant redemption FAQ document for further information.

None of AerSale, its board of directors, officers or employees has made or is making any representation or recommendation to any holder of the Public Warrants as to whether to exercise or refrain from exercising any Public Warrants.

The shares of common stock underlying the Public Warrants have been registered by the Company under the Securities Act of 1933, as amended, and are covered by a registration statement filed on Form S-1, as amended, with, and declared effective by, the Securities and Exchange Commission (Registration No. 333-252703). Exercise of Public Warrants should be directed through the broker of the warrant holder. In addition to the broker, questions may also be directed to Morrow Sodali at (800) 662-5200 (for individuals) / (203) 658-9400 (for banks and brokerages) or at ASLE@investor.morrowsodali.com. Or contact Continental Stock Transfer & Trust Company, One State Street, 30th Floor, New York, New York 10004, Attention: Compliance Department, Telephone Number (212) 509-4000.

Additional information can be found on AerSale’s Investor Relations website: https://ir.aersale.com/

About AerSale

AerSale serves airlines operating large jets manufactured by Boeing, Airbus and McDonnell Douglas and is dedicated to providing integrated aftermarket services and products designed to help aircraft owners and operators to realize significant savings in the operation, maintenance and monetization of their aircraft, engines, and components. AerSale’s offerings include: Aircraft & Component MRO, Aircraft and Engine Sales and Leasing, Used Serviceable Material sales, and internally developed ‘Engineered Solutions’ to enhance aircraft performance and operating economics (e.g. AerSafe™, AerTrak™, and now AerAware).

No Offer or Solicitation

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such other jurisdiction.

Forward Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including without limitation statements regarding our anticipated financial performance; our growth trajectory; the impact of investments in our Boeing 757 program on our financial performance; our ability to sell our aircraft on the timelines we anticipate; the expected operating capacity of our MRO facilities; the expected commencement date of sales of our AerAware product; and our anticipated revenue split between our two segments. AerSale’s actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. Many factors could cause actual future events to differ materially from the forward-looking statements in this presentation, including without limitation, the impact of the COVID-19 pandemic; factors adversely impacting the commercial aviation industry; the fluctuating market value of our products; our ability to repossess mid-life commercial aircraft and engines; our ability to comply with stringent government regulation; the shortage of skilled personnel, including as a result of work stoppages; the highly competitive nature of the markets in which we operate; and risks associated with our international operations. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC"), and its other filings with the SEC, including its subsequent quarterly reports on Form 10-Q. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and AerSale Corporation assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211215005298/en/

Contacts

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For more information about AerSale, please visit our website: www.AerSale.com.

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AerSale: Craig Wright

Telephone: (305) 764-3200

Email: media.relations@aersale.com

Investors:

AerSale: AersaleIR@icrinc.com

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AerSale Reminds Investors of Cashless Redemption of Public Warrants

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