Willis Lease Finance Corporation (NASDAQ:WLFC) Files An 8-K Entry into a Material Definitive Agreement

ME Staff 8-k
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Willis Lease Finance Corporation (NASDAQ:WLFC) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry Into a Material Definitive Agreement.

On September22, 2017, Willis Lease Finance Corporation (the “Company”) entered into a Stock Purchase Agreement with Development Bank of Japan Inc., relating to the sale and issuance of an aggregate of 1,500,000 shares of the Company’s 6.5% SeriesA-2 Preferred Stock, $0.01 par value per share (the “SeriesA-2 Preferred Stock”) at a purchase price of $20.00 per share.

The SeriesA-2 Preferred Stock carries a quarterly dividend at the rate per annum of 6.5% per share, with a $20.00 liquidation preference per share. The purchase and sale of the SeriesA-2 Preferred Stock closed on September27, 2017 and the first dividend is expected to be paid on January15, 2018. The net proceeds to the Company after deducting investor fees were $29.7 million.

A copy of the SeriesA-2 Preferred Stock Purchase Agreement is attached hereto as Exhibit10.1 and incorporated herein by reference.

Item 9.01 Financial Statements& Exhibits


WILLIS LEASE FINANCE CORP Exhibit
EX-10.1 2 a17-22247_1ex10d1.htm EX-10.1 Exhibit 10.1   EXECUTION VERSION   SERIES A-2 PREFERRED STOCK PURCHASE AGREEMENT by and between WILLIS LEASE FINANCE CORPORATION and DEVELOPMENT BANK OF JAPAN INC.   Dated as of September 22,…
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About Willis Lease Finance Corporation (NASDAQ:WLFC)

Willis Lease Finance Corporation along with its subsidiaries is a lessor of commercial aircraft engines. The Company operates through two business segments, such as Leasing and Related Operations, and Spare Parts Sales. The Leasing and Related Operations segment involves acquiring and leasing, primarily pursuant to operating leases, commercial aircraft, aircraft engines and other aircraft equipment, and the selective purchase and resale of commercial aircraft engines and other aircraft equipment. The Spare Parts Sales segment involves the purchase and resale of after-market engine and airframe parts, whole engines, engine modules and portable aircraft components, and leasing of engines destined for disassembly and sale of parts. Its lease portfolio consists of approximately 200 engines and related equipment, 10 aircrafts and five spare engine parts packages. The Company’s business activities also include equipment leasing and spare parts sales.