CIT Files Initial Form 10 Registration Statement in Conjunction with Dual Track Process for Separation of Commercial Aircraft...
June 30 2016 - 05:11PM
Business Wire
CIT Group Inc. (NYSE:CIT), cit.com, a leading provider of
commercial lending and leasing services, today announced that it
has filed an initial Form 10 Registration Statement with the U.S.
Securities and Exchange Commission (“SEC”) in conjunction with the
separation of its commercial aircraft leasing business. As
previously stated, CIT continues to pursue a dual track process to
separate its commercial aircraft leasing business. Both tracks are
progressing and CIT expects to complete the separation by the end
of 2016. The initial Form 10 Registration Statement was filed under
the name of C2 Aviation Capital, Inc. (“C2”).
Any contemplated transaction will be subject to certain
conditions, including the receipt of any required approvals by the
applicable regulators, any required legal opinions from counsel,
and final approval by CIT’s Board of Directors.
A copy of the initial Form 10 Registration Statement is
available at sec.gov under CIK #: 0001678043.
Forward-Looking Statements
This press release contains forward-looking statements
within the meaning of applicable federal securities laws that are
based upon our current expectations and assumptions concerning
future events, which are subject to a number of risks and
uncertainties that could cause actual results to differ materially
from those anticipated. The words “expect,” “anticipate,”
“estimate,” “forecast,” “initiative,” “objective,” “plan,” “goal,”
“project,” “outlook,” “priorities,” “target,” “intend,” “evaluate,”
“pursue,” “commence,” “seek,” “may,” “would,” “could,” “should,”
“believe,” “potential,” “continue,” or the negative of any of those
words or similar expressions is intended to identify
forward-looking statements. All statements contained in this press
release, other than statements of historical fact, including
without limitation, statements about our plans, strategies,
prospects and expectations regarding future events and our
financial performance, are forward-looking statements that involve
certain risks and uncertainties. While these statements represent
our current judgment on what the future may hold, and we believe
these judgments are reasonable, these statements are not guarantees
of any events or financial results, and our actual results may
differ materially. Important factors that could cause our actual
results to be materially different from our expectations include,
among others, the risk that CIT is unsuccessful in implementing its
strategy and business plan, the risk that CIT is unable to react to
and address key business and regulatory issues, the risk that CIT
is unable to achieve the projected revenue growth from its new
business initiatives or the projected expense reductions from
efficiency improvements, the risk that CIT is delayed in
implementing its branch strategy, and the risk that CIT becomes
subject to liquidity constraints and higher funding costs. We
describe these and other risks that could affect our results in
Item 1A, “Risk Factors,” of our latest Annual Report on Form 10-K
for the year ended December 31, 2015, which was filed with the
Securities and Exchange Commission. Accordingly, you should not
place undue reliance on the forward-looking statements contained in
this press release. These forward-looking statements speak only as
of the date on which the statements were made. CIT undertakes no
obligation to update publicly or otherwise revise any
forward-looking statements, except where expressly required by
law.
About CIT
Founded in 1908, CIT (NYSE: CIT) is a financial holding company
with more than $65 billion in assets. Its principal bank
subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has
more than $30 billion of deposits and more than $40 billion of
assets. It provides financing, leasing and advisory services
principally to middle market companies across a wide variety of
industries primarily in North America, and equipment financing and
leasing solutions to the transportation sector. It also offers
products and services to consumers through its Internet bank
franchise and a network of retail branches in Southern California,
operating as OneWest Bank, a division of CIT Bank, N.A. cit.com
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version on businesswire.com: http://www.businesswire.com/news/home/20160630006370/en/
CIT MEDIA RELATIONS:Matt Klein, 973-597-2020Director,
Media RelationsMatt.Klein@cit.comorCIT INVESTOR
RELATIONS:Barbara Callahan, 973-740-5058Senior Vice
PresidentBarbara.Callahan@cit.com
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