Alaska Airlines upgrading its fleet with 13 leased Boeing 737-9 aircraft from Air Lease and Beam Global (BEEM) & Maxim Group LLC signed an underwriting agreement

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Alaska Airlines signed a long term lease agreement with Air Lease to lease new 13 Boeing 737-9 aircraft to upgrade its fleet.

On the new agreement,Air Lease executive chairman Steven F. Udvar-Házy said that the leased Boeing 737-9 aircraft from ALC will fulfil the airline`s requirement bringing the most technologically advanced and environmentally attractive aircraft type into Alaska’s fleet. He further said that the agreement timing is very important as it is expected that the airline industry will undergo a sustainable recovery starting in 2021.

According to the agreement, Alaska Airlines will start getting new aircraft in the fourth quarter of 2021 and will get all the aircraft delivered through the end of 2022.

The new 737-9 will commence flight with Alaska airlines in March 2021. The Alaska airline is also getting additional 32 Boeing 737-9 MAX from Boeing and five of which will be flying by summer 2021.

The Airline is also selling 10 Airbus A320-200 aircraft and both companies agree that the airline will lease these 10 A320 aircraft back from ALC.

Currently, the Airline has 39 A320s in its operational fleet along with 10 A321neos

Beam Global (BEEM) entered into an underwriting agreement with Maxim Group LLC under which the underwriter has agreed to purchase250,000 shares of common stock of the Company, at a price to the public of $30.00 per share after deducting underwriting discounts and commissions.

The offer is expected to close on November 27, 2020 and Maxim Group LLC is acting as the sole manager for the offering. The deal would give $7.5 million to Beam Global before any deductions.

 The formal offer was made after an effective shelf registration statement on Form S-3 that was filed with the U.S. Securities and Exchange Commission and on June 4 2020, it was declared affective. A prospectus supplement will be also a part of the effective registration statement. Copies of the final prospectus supplement and accompanying prospectus relating to the public offering may be obtained, when available, by contacting Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174, or by telephone at (212) 895-3745.

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