Subsequent Events |
9 Months Ended |
|---|---|
Sep. 30, 2024 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Subsequent Events Kellstrom Aerospace Acquisition
In October 2024, we signed a definitive agreement to acquire Kellstrom Aerospace Group, Inc. ("Kellstrom Aerospace"), a diversified global distributor and service provider supporting the commercial aerospace engine aftermarket, for a preliminary purchase price of $200 million, comprised of approximately $185 million in cash and approximately 172,414 shares of common stock to be issued in a private placement pursuant to Section 4(a)(2) of the Securities Act, subject to working capital adjustments (the "Kellstrom Aerospace Acquisition"). The transaction is subject to customary closing conditions, including regulatory review, and is expected to close in the fourth quarter of 2024.
Underwritten Public Offering
In October 2024, we entered into an underwriting agreement with Jefferies and RBC Capital Markets, acting as representatives of several underwriters, relating to the issuance and sale of 1,724,137 shares of the Company's common stock at a public offering price of $87.00 per share. Under the terms of the agreement, we granted the underwriters an option, exercisable for 30 days, to purchase up to an additional 258,620 shares of common stock. The offering closed on October 17, 2024, resulting in the issuance of 1,982,757 shares, which included the exercise by the underwriters of their option to purchase additional shares, pursuant to the underwriting agreement, for which we received net proceeds of $163.8 million, net of issuance costs.
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