StandardAero (SARO) said late Monday that two of its stockholders intend to sell 30 million shares of the company's common stock in a secondary offering.

The selling stockholders, affiliates of The Carlyle Group and GIC, will receive all proceeds from the proposed offering, the company said. They expect to grant underwriters a 30-day option to purchase up to 4.5 million additional shares.

Shares of the company dropped 3% in after-hours activity.