Monocle Acquisition Corp. (NASDAQ: MNCL) shares surged 14.4% to 1.43 in the late-night trading Wednesday after the report that AerSale Corp and Monocle Acquisition Corp. (NASDAQ: MNCL), a particular purpose acquisition company, have completed their business combination.Monocle’s stockholders approved the business merger during a special meeting held on December 21, 2020. From December 23, 2020, the newly combined company will trade under the ASLE and ASLEW ticker symbols on Nasdaq Capital Market.
”We are delighted to mark this new beginning for AerSale. The merger improves our financial situation and presents us with leverage to further focus on our plans to expand our asset purchase program, extend our scope in passenger-to-freighter conversions, and bring our groundbreaking AerAware technology to market. Our decade-long partnership with our key investor Leonard Green & Partners will proceed post-merger, and becoming a public company will also boost our credibility as an industry leader in aviation aftermarket solutions,” said Nicolas Finazzo, Chairman and Chief Executive Officer of AerSale.