Company: AYR
Filing Date: 2025-01-10
Form Type: 10-Q
Source: 0001628280-25-001098
Chunk: 17

Company: Aircastle LTD
Filing Date: 2025-01-10
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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  As a result of the AIDAC Guarantees, the Senior Notes due 2031 rank pari passu in right of payment with the Existing Unsecured Debt.

Note 9. Shareholders' Equity

Issuance of Common SharesOn July 5, 2023, the Company entered into a Subscription Agreement with its Shareholders, pursuant to which the Company agreed to make a pro rata issuance of the Company’s common shares, $0.01 par value per share (the “Shares”), for an aggregate purchase price of up to $500.0 million.  On July 18, 2023, 1,516 Shares in the aggregate were issued to the Shareholders for an aggregate purchase price of $200.0 million.  On June 28, 2024, 2,276 Shares in the aggregate were issued to the Shareholders for an aggregate purchase price of $300.0 million, representing the second and final tranche of Shares to be issued under the Subscription Agreement.  The number of Shares and the subscription price per share were determined and agreed to by the parties at the time of issuance.  The Shares rank pari passu in all respects with other common shares of the Company.  The Company has used, and intends to continue to use, the net proceeds from the issuance of Shares for general corporate purposes.Preference Share DividendsOn March 15, 2024, the Company paid a semi-annual dividend in the amount of $10.5 million for its preference shares, which was approved by the Company’s Board of Directors on January 9, 2024, and accrued as of February 29, 2024.On September 16, 2024, the Company paid a semi-annual dividend in the amount of $10.5 million for its preference shares, which was approved by the Company’s Board of Directors on July 8, 2024, and accrued as of August 31, 2024.On January 9, 2025, the Company’s Board of Directors approved a semi-annual dividend in the amount of $10.5 million for its preference shares, to be paid on March 17, 2025.

Note 10. Related Party Transactions

We incurred fees from our Shareholders as part of intra-company service agreements totaling $2.1 million and $2.2 million during the three months ended November 30, 2024 and 2023, respectively, and $6.6 million and $