We are seeing something a bit unusual considering the current climate for airline stocks. US Airways Group, Inc. (NYSE: LCC) has announced today that it will sell 19 million shares of common stock in a secondary offering via Merrill Lynch & Co.
This offering is being made under an existing shelf registration.The use of proceeds is the "general corporate purposes."
Shares are currently halted as of 11:33 AM EST. If this priced at thelast trade before the halt, the airline carrier would be raisingapproximately $179.7 million before fees and discounting. Its marketcap based upon the last print was listed as $871.9 million.
By the way, if this is greeted warmly and shares are not hit too hardyou might as well go ahead and just expect other airlines to followsuit.
Jon C. Ogg
August 14, 2008
Are You Still Paying With a Debit Card?
The average American spends $17,274 on debit cards a year, and it’s a HUGE mistake. First, debit cards don’t have the same fraud protections as credit cards. Once your money is gone, it’s gone. But more importantly you can actually get something back from this spending every time you swipe.
Issuers are handing out wild bonuses right now. With some you can earn up to 5% back on every purchase. That’s like getting a 5% discount on everything you buy!
Our top pick is kind of hard to imagine. Not only does it pay up to 5% back, it also includes a $200 cash back reward in the first six months, a 0% intro APR, and…. $0 annual fee. It’s quite literally free money for any one that uses a card regularly. Click here to learn more!
Flywheel Publishing has partnered with CardRatings to provide coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.