After-Hours Alert: Why AerSale Stock Is Diving

AerSale Corp ASLE shares are trading lower in Tuesday's after-hours session after the company announced a secondary offering.

AerSale said certain stockholders, including affiliates of Leonard Green & Partners, intend to offer 4.25 million shares of common stock in an underwritten secondary offering. The selling stockholders also expect to grant the underwriters a 30-day option to purchase up to an additional 637,500 shares of common stock. All proceeds of the offering will go to the selling stockholders.

AerSale serves a customer base operating large jets manufactured by Boeing Co BA, Airbus and McDonnell Douglas. The company aims to provide integrated aftermarket services and products designed to help aircraft owners and operators realize significant savings in the operation, maintenance and monetization of their aircraft, engines and components. 

ASLE Price Action: AerSale has a 52-week high of $20.89 and a 52-week low of $12.78.

The stock was down 13.3% in after hours at $17.19 at press time, according to Benzinga Pro.

Photo: courtesy of Boeing.