StandardAero (SARO) said late Tuesday that affiliates of Carlyle Group (CG) and GIC priced a secondary public offering of 50 million StandardAero common shares at $31 apiece.

The selling stockholders granted a 30-day overallotment option to the underwriters to acquire up to 7.5 million additional shares.

The company said it has signed a deal with a selling stockholder to buy back $50 million of its shares in a private transaction.

The offering is expected to close Thursday.

StandardAero shares were down 6% in recent premarket activity Wednesday.