Ftai aviation ltd. announces closing of merger transaction

New york, nov. 11, 2022 (globe newswire) -- ftai aviation ltd. (nasdaq: ftai), a cayman islands exempted company (“ftai” or the “company”), announced today the closing of a previously announced merger transaction by and among ftai, fortress transportation and infrastructure investors llc and ftai aviation merger sub llc. the execution of a definitive merger agreement outlining the terms of the transaction was initially announced on august 15, 2022. as a result of the merger, shares of fortress transportation and infrastructure investors llc were exchanged automatically for shares of ftai without any further action from the shareholders and fortress transportation and infrastructure investors llc became a subsidiary of ftai. the ordinary shares and preferred shares of the company continue to trade on nasdaq under the ticker symbols ‘‘ftai,'' ‘‘ftaip,'' ‘‘ftaio'' and ‘‘ftain,'' respectively.   in connection with the merger, newly acquired ftai shares will no longer be subject to schedule k-1 reporting. shareholders who held shares in 2022 prior to the merger will receive a final k-1 in 2023.
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