Aviation Sales Company Announces Changes in its Common Stock Public Offering.MIAMI--(BUSINESS WIRE)--June 10, 1999-- Aviation Sales Company (NYSE NYSE See: New York Stock Exchange :AVS (Audio Video Coding Standard) A video compression technique developed by Chinese companies and supported by the Chinese government. Expected to provide better compression than MPEG-2, AVS was created to avoid paying royalties to the MPEG licensors, which are outside ) announced today that it has filed an Amendment to its registration statement reducing the amount of common stock that it will be offering in its common stock public offering from 2,600,000 shares to 2,000,000 shares. In addition, the Company has decided that the offering will not include shares to be offered by selling shareholders. The Company is also granting the underwriters an option to purchase up to 300,000 additional shares of common stock to cover over allotments, if any. The common stock will be underwritten through a syndicate managed by Salomon Smith Barney, Deutsche Bank Alex. Brown Deutsche Bank Alex. Brown is the private client services division of Deutsche Bank Securities, the U.S. corporate and investment arm of German banking colossus Deutsche Bank. It is the organization successor to the 200 year-old investment bank Alex. , Robert W. Baird Robert Wilson Baird (born April 1, 1883) helped found the financial services firm that bears his name and led it for more than 40 years. Baird’s father was a professor of Greek literature at Northwestern University in Evanston, Illinois, where Baird grew up. & Co., and Warburg Dillon Read Investment bank created by the 1997 merger of S.G. Warburg & Co. and Dillon, Read & Co. Subsequently renamed UBS Warburg and now part of UBS AG, where the Warburg name was eventually dropped. LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . The Company intends to use the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of the stock offering to reduce the amounts due under its revolving credit agreement Revolving credit agreement A legal commitment in which a bank promises to lend a customer up to a specified maximum amount during a specified period. revolving credit agreement See line of credit. . Aviation Sales Company is a leading independent provider of fully integrated aviation inventory and maintenance services, including aircraft heavy maintenance, component repair and overhaul, leasing, the distribution of aircraft spare parts and the manufacture of new components for major commercial airlines, original equipment manufacturers and maintenance and repair facilities. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statements become effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state. A copy of the prospectus relating to this offering, when available, may be obtained from Aviation Sales Company, 6905 N.W. 25th Street, Miami, Florida 33122, attention: Vice President, Finance, (305) 592-4055. Except for historical information contained herein, this release contains certain forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from forecasted results. A number of factors, including those identified below, could adversely affect the Company's ability to obtain these results: the Company's ability to acquire adequate inventory and to obtain favorable pricing for such inventory, competitive pricing for the Company's products and services, increased competition in the aircraft spare parts redistribution and MRO MRO In currencies, this is the abbreviation for the Mauritanian Ouguiya. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. markets, the ability to consummate suitable acquisitions, the continuing ability to effectively integrate acquisitions, economic factors which affect the airline industry, and changes in government regulations. Certain of these risks are described in the Company's 10-K filings with the Securities and Exchange Commission (SEC). Copies of the Company's 10-K and 10-Q are available from the SEC or may be obtained upon request from the Company. The Company does not undertake any obligation to update the information contained herein, which speaks only as of this date. |
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