StandardAero Announces Pricing of its Upsized Initial Public Offering

By: StandardAero, Inc. via Business Wire

October 01, 2024 at 19:42 PM EDT

StandardAero, Inc. (“StandardAero”) announced today the pricing of its initial public offering of 60,000,000 shares of its common stock, at a public offering price of $24.00 per share. The shares include 53,250,000 shares to be issued and sold by StandardAero and 6,750,000 shares to be sold by existing stockholders. The size of the offering was upsized from the previously announced 46,500,000 shares. Shares of StandardAero common stock are expected to begin trading on The New York Stock Exchange under the symbol "SARO" on October 2, 2024. The offering is expected to close on October 3, 2024, subject to the satisfaction of customary closing conditions.

In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to an aggregate of 9,000,000 additional shares of common stock from them at the initial public offering price, less underwriting discounts and commissions, upsized from the previously announced 30-day option to purchase up to an aggregate of 6,975,000 additional shares of common stock.

J.P. Morgan, Morgan Stanley (in alphabetical order), BofA Securities, UBS Investment Bank, Jefferies and RBC Capital Markets are acting as lead book-running managers for the proposed offering. Carlyle, CIBC Capital Markets, HSBC Securities (USA) Inc., Mizuho Securities USA LLC, Societe Generale and Wolfe | Nomura Alliance are acting as joint book-running managers, and Citizens JMP Securities, LLC, Macquarie Capital, Santander, AmeriVet Securities, Inc. and Drexel Hamilton, LLC are acting as co-managers for the offering.

A registration statement on Form S-1 relating to these securities was declared effective by the Securities and Exchange Commission on October 1, 2024. The offering is being made only by means of a prospectus. The offering will be made only by means of a prospectus. Copies of the final prospectus relating to this offering, when available, may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com and Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2^nd Floor, New York, NY 10014.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these 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 any such state or jurisdiction.

About StandardAero

StandardAero is a leading independent pure-play provider of aerospace engine aftermarket services for fixed and rotary wing aircraft, serving the commercial, military and business aviation end markets. StandardAero provides a comprehensive suite of critical, value-added aftermarket solutions, including engine maintenance, repair and overhaul, engine component repair, on-wing and field service support, asset management and engineering solutions. StandardAero is majority owned by global investment firm Carlyle (NASDAQ: CG).

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking statements, including with respect to the closing of the initial public offering. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management’s control. These statements involve risks and uncertainties that may cause StandardAero’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these 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, except as required by law, StandardAero 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.