10-K/A
AerSale Corp (ASLE)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A
(Amendment No. 1)
(Mark One)
☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31 , 2023
OR
**☐**TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
Commission File Number 001-38801
AerSale Corporation
(Exact name of Registrant as specified in its Charter)
| Delaware | 84-3976002 | |
|---|---|---|
| (State or other jurisdiction of | | (I.R.S. Employer |
| incorporation or organization) | | Identification No.) |
| | | |
| 255 Alhambra Circle , Suite | | |
| 435 Coral Gables , Florida | | 33134 |
| (Address of principal executive offices) | | (Zip Code) |
( 305 ) 764-3200
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, par value $0.0001 per share | ASLE | The Nasdaq Capital Market |
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | ☐ | Accelerated filer | ☒ |
|---|---|---|---|
| Non-accelerated filer | ☐ | Smaller reporting company | ⌧ |
| Emerging growth company | ☒ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☐
If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to § 240.10D-1(b). ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
The aggregate market value of voting common stock held by non-affiliates of the registrant, based on the closing price of $14.70 for shares of the registrant’s common stock on The Nasdaq Capital Market on June 30, 2023, was approximately $421 million. Shares of common stock beneficially owned by each executive officer, director, and holder of more than 10% of our common stock have been excluded in that such persons may be deemed to be affiliates.
The number of shares of registrant’s common stock outstanding as of March 5, 2024 was 52,990,947.
EXPLANATORY NOTE
AerSale Corporation (the “Company”) is filing this Amendment No. 1 on Form 10-K/A (the “Amended 10-K”) to amend the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the “Original 10-K”), originally filed with the Securities and Exchange Commission (the “SEC”) on March 8, 2024, to (i) correct the number of shares of the Company’s common stock outstanding as of March 5, 2024 as disclosed on the cover page of the Original 10-K and (ii) file new certifications of the Company’s principal executive officer and principal financial officer as exhibits to this Amended 10-K under Item 15 of Part IV hereof, pursuant to Rule 12b-15 under the Securities Exchange Act of 1934, as amended. As no financial statements have been included in this Amended 10-K and this Amended 10-K does not contain or amend any disclosure with respect to Items 307 or 308 of Regulation S-K, paragraphs 3, 4 and 5 of the certifications have been omitted. The Company is not including certifications pursuant to Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350) as no financial statements are being filed with this Amended 10-K.
Except as described above, no other changes are being made to the Original 10-K. This Amended 10-K speaks as of the date of the Original 10-K and does not reflect other events that may have occurred after the date of the Original 10-K or modify or update any disclosures that may have been affected by subsequent events.
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PART IV
ITEM 15 EXHIBITS AND FINANCIAL STATEMENT SCHEDULES
(a)(1) Financial Statements.
The financial statements required by this item are listed in Item 8, “Financial Statements and Supplementary Data” in the Original 10-K.
(a)(2) Financial Statement Schedules.
All financial statement schedules have been omitted because they are not applicable, not required or the information required is shown in the financial statements or the notes thereto.
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(a)(3) Exhibits.
The following is a list of exhibits filed as part of this Annual Report.
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| Exhibit<br><br>Number | Description | Form | File No. | Exhibit | Filing<br><br>Date | Filed<br><br>Herewith | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31.4 | Certification of Principal Financial Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | | | | | | | | | * | ||
| 32.1** | Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. | 10-K | 001-38801 | 32.1 | 03/08/2024 | |||||||
| 32.2** | Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. | 10-K | 001-38801 | 32.2 | 03/08/2024 | |||||||
| 97.1** | | AerSale Corporation Clawback Policy | | 10-K | | 001-38801 | | 97.1 | | 03/08/2024 | | |
| 101.INS** | Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. | | 10-K | | 001-38801 | | 101.INS | | 03/08/2024 | | | |
| 101.SCH** | Inline XBRL Taxonomy Extension Schema Document. | | 10-K | | 001-38801 | | 101.SCH | | 03/08/2023 | | | |
| 101.CAL** | Inline XBRL Taxonomy Extension Calculation Linkbase Document. | | 10-K | | 001-38801 | | 101.CAL | | 03/08/2023 | | | |
| 101.DEF** | Inline XBRL Taxonomy Extension Definition Linkbase Document. | | 10-K | | 001-38801 | | 101.DEF | | 03/08/2023 | | | |
| 101.LAB** | Inline XBRL Taxonomy Extension Label Linkbase Document. | | 10-K | | 001-38801 | | 101.LAB | | 03/08/2023 | | | |
| 101.PRE** | Inline XBRL Taxonomy Extension Presentation Linkbase Document. | | 10-K | | 001-38801 | | 101.PRE | | 03/08/2023 | | | |
| 104 | | Cover Page Interactive Data (formatted as Inline XBRL and contained in Exhibit 101). | | | | | | | | | | |
| * | Filed herewith |
|---|---|
| ** | Previously filed or furnished, as applicable, with the Original Form 10-K |
| --- | --- |
| # | Denotes a management contract or compensation plan or arrangement |
| --- | --- |
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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| 2 | ||
|---|---|---|
| AerSale Corporation | ||
| Date: March 27, 2024 | By: | /s/ Nicolas Finazzo |
| Nicolas Finazzo | ||
| Chief Executive Officer |
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Exhibit 31.3
CERTIFICATION
I, Nicolas Finazzo, certify that:
I have reviewed this Amendment No. 1 to Annual Report on Form 10-K of AerSale Corporation; and
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report.
| Date: March 27, 2024 | By: | /s/ Nicolas Finazzo |
|---|---|---|
| Nicolas Finazzo | ||
| Chief Executive Officer | ||
| (principal executive officer) |
Exhibit 31.4
CERTIFICATION
I, Martin Garmendia, certify that:
I have reviewed this Amendment No. 1 to Annual Report on Form 10-K of AerSale Corporation; and
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
| Date: March 27, 2024 | By: | /s/ Martin Garmendia |
|---|---|---|
| Martin Garmendia | ||
| Chief Financial Officer | ||
| (principal financial officer) |