FTAI Infrastructure Down 8%

Dow Jones2022-07-22

By Josh Beckerman

FTAI Infrastructure Inc. shares were recently down 8% to $3.68. The stock was briefly paused due to volatility at least four times Thursday and has ranged from $2.95 to $4.25 for the day.

Fortress Transportation & Infrastructure Investors LLC, discussing the spinoff of its infrastructure business, said July 12 that it expected FTAI Infrastructure would start trading on Nasdaq July 20 on a when-issued basis, subject to settlement after a distribution of shares, expected to occur Aug. 1 with a July 21 record date.

FTAI Infrastructure said in a filing Thursday that it plans to offer $50 million of additional 10.5% senior secured notes due 2027 in a private offering. There are existing notes of $450 million outstanding.

Write to Josh Beckerman at josh.beckerman@wsj.com

$(END)$ Dow Jones Newswires

July 21, 2022 14:23 ET (18:23 GMT)

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