An Air Transport Services Group, Inc. (NASDAQ: ATSG) stockholder intends to offer for sale 3,806,374 shares of the company´s common stock in an underwritten secondary offering, of which ATSG intends to repurchase from the underwriter 380,637 shares of common stock, the company said.
The selling stockholder will receive all of the net proceeds from the offering. No shares are being sold by ATSG in the offering.
BofA Merrill Lynch will act as underwriter for the offering.
ATSG provides aircraft leasing and air cargo transportation and related services to domestic and foreign air carriers and other companies that outsource their air cargo lift requirements. ATSG, through its leasing and airline subsidiaries, is the world´s largest owner and operator of converted Boeing 767 freighter aircraft. Through its principal subsidiaries, ATSG provides aircraft leasing, air cargo lift, aircraft maintenance services and airport ground services.