Pemco Aviation Grp. (MM) (NASDAQ:PAGI)
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Pemco Aviation Group, Inc. (NASDAQ: PAGI), a leading provider of
aircraft maintenance and modification services, today announced that it
has engaged advisors to pursue a public offering of 100% of its
Commercial Services business on the AIM market in London.
Pemco intends to use the proceeds from the offering to pay off all of
its borrowings and to provide additional cash to fund its remaining
operations.
The securities of the Commercial Services business have not been
registered under the Securities Act or any state securities laws and may
not be offered or sold in the United States absent registration or an
applicable exemption from registration requirements. This release shall
not constitute an offer to sell or the solicitation of an offer to buy
any of these securities, nor shall it constitute an offer, solicitation
or sale in any jurisdiction in which such offer, solicitation or sale is
unlawful.
This press release contains forward-looking statements made in
reliance on the safe harbor provisions of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These statements may be identified by their
use of words, such as “believe,”
“expect,” “intend,”
“anticipate,” “estimate”
and other words and terms of similar meaning, in connection with any
discussion of the Company's prospects, financial statements, business,
financial condition, revenues, results of operations or liquidity. Factors
that could affect the Company's forward-looking statements include,
among other things: changes in global or domestic economic conditions;
the loss of one or more of the Company's major customers; the Company's
ability to obtain additional contracts and perform under existing
contracts; the outcome of pending and future litigation and the costs of
defending such litigation; financial difficulties experienced by the
Company's customers; potential environmental and other liabilities; the
inability of the Company to obtain additional financing; material
weaknesses in the Company’s internal control
over financial reporting; regulatory changes that adversely affect the
Company's business; loss of key personnel; and other risks detailed from
time to time in the Company's SEC reports, including its most recent
Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. The
Company cautions readers not to place undue reliance on any
forward-looking statements, which speak only as of the date on which
they are made. The Company does not undertake any obligation to
update or revise any forward-looking statements and is not responsible
for changes made to this release by wire services or Internet services.