PALO ALTO, Calif., Oct. 13, 2021 /PRNewswire/ -- AeroCentury
Corp. ("AeroCentury" or the "Company") (NYSE American: ACY),
today announced that in connection with the Company's exit from
Chapter 11 reorganization, as set forth in the Combined Disclosure
Statement and Joint Chapter 11 Plan of Reorganization of
AeroCentury Corp, and Its Affiliated Debtors Docket No. 0282 (the
"Plan") which was previously approved by the U.S.
Bankruptcy Court for the District of Delaware on August 31,
2021, the payment of the
previously-approved special cash dividend of $0.6468 per share (the "Dividend") to
stockholders ("Legacy Shareholders") that hold shares of Common
Stock of the Company as of the effective date of the Plan prior to
the sale and issuance of Common Stock of the Company to the plan
sponsor investors led by YuCheng Hu
("Plan Sponsor"). The record date for the Dividend and the
effective date of the Plan was September 30,
2021. The Dividend was paid to the Legacy Shareholders on
October 13, 2021.
Yucheng Hu, the Company's Chief
Executive Officer, said: "We are very pleased to distribute the
special cash dividends to the legacy shareholders which represent
the return and gratitude to the shareholders. We look forward to
bringing growing earnings to shareholders through development of
the Company's legacy aircraft leasing business and potential new
business. AeroCentury is poised to continue meeting our capital
return commitments across diversified development and creating
enhanced shareholder value."
About AeroCentury Corp.
AeroCentury is an independent global aircraft lessor and finance
company specializing in regional aircraft and related engines.
Forward-Looking Statements
Certain statements made in this release are "forward looking
statements" within the meaning of the "safe harbor" provisions of
the United States Private Securities Litigation Reform Act of
1995. When used in this press release, the words "estimates,"
"projected," "expects," "anticipates," "forecasts," "plans,"
"intends," "believes," "seeks," "may," "will," "should," "future,"
"propose," and variations of these words or similar expressions (or
the negative versions of such words or expressions) are intended to
identify forward-looking statements. These forward-looking
statements are not guarantees for future performance, conditions or
results, and involve a number of known and unknown risks,
uncertainties, assumptions and other important factors, many of
which are outside the Company's control, that could cause actual
results or outcomes to differ materially from those discussed in
the forward-looking statements. Important factors, among others,
are: the ability to manage growth; ability to identify and
integrate other future acquisitions; ability to obtain additional
financing in the future to fund capital expenditures; fluctuations
in general economic and business conditions; costs or other factors
adversely affecting the Company's profitability; litigation
involving patents, intellectual property, and other matters;
potential changes in the legislative and regulatory environment; a
pandemic or epidemic. The forward-looking statements in this press
release and the Company's future results of operations are subject
to additional risks and uncertainties set forth under the heading
"Factors that May Affect Future Results and Liquidity" in documents
filed by the Company with the Securities and Exchange Commission,
including the Company's quarterly reports on Form 10-Q and the
Company's latest annual report on Form 10-K, and are based on
information available to the Company on the date hereof. In
addition, such risks and uncertainties include the Company's
inability to predict or control bankruptcy proceedings and the
uncertainties surrounding the ability to generate cash proceeds
through the sale or other monetization of the Company's assets. The
Company undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by applicable law.
Such information speaks only as of the date of this release.
View original
content:https://www.prnewswire.com/news-releases/aerocentury-corp-pays-special-cash-dividend-301398904.html
SOURCE AeroCentury Corp.