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Tuesday, May 17, 2022

AeroCentury Corp. (ACY) Stock Plummets Following Closing of Sale of its Common Shares

AeroCentury Corp. (ACY) stock prices were down by 9.04% as of the market closing on September 30th, 2021. This brought the price per share up to USD$59.98 at the end of the trading day. Subsequent premarket fluctuations have seen the stock rise by 16.66%, bringing it up to USD$49.99.

ACY Stock Closes Offering

September 30th, 2021 saw ACY stock announce the closing of its sale of shares of its common stock. The company saw the sale of 2,870,929 shares of common stock, with each stock being priced at USD$3.85. The offering came out to an aggregate cash purchase price of roughly USD$11 million, as per the Securities Purchase Agreement. The transaction has previously been approved by the U.S Bankruptcy Court for the District of Delaware on August 31st, 2021. Upon consummation of the transaction, the Plan Sponsors will become holders of roughly 65% of the company’s outstanding shares of common stock.


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Setting the Stage for Success

The company has concluded its Chapter 11 reorganization with the closing of an USD$11 million capital investment by various investors. This will enable the company to move forward without any debt and with fresh new capital resources. Moving forward, ACY stock has been given a lease on the scope of its market footprint.

ACY Stock’s Synergistic Collaboration

The company is pleased to complete the transaction as it consolidates and expands its portion of the growth and development of ACY stock’s legacy aircraft business. This will be facilitated by the company’s previously wholly-owned subsidiary, JetFleet Holding Corp. The company is poised to capitalize on potential opportunities as it looks for chances to make additional growth investments in the future. This will serve to diversify the company’s revenue streams and potential high growth earnings for its shareholders.

Net Loss Improvements

ACY stock reported a net loss for the second quarter of fiscal 2021 in the amount of USD$3.2 million, representing a net loss of USD$2.07 per share. This is comparable to a net loss of USD$13.5 million for the second quarter of fiscal 2020, which represented a net loss of USD$8.74 per share.

Future Outlook for ACY Stock

ACY stock reported a strong quarter, with the momentum being consolidated by the closing of its sale of common shares. The company is poised to capitalize on the opportunities at its disposal ahead of these recent developments. Current and potential investors are confident that management will be able to effectively leverage the resources at their disposal. This is hoped to facilitate significant and sustained increases in shareholder value over the long term.

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