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
“The Next NVIDIA” Could Change Your Life
NVIDIA has returned 250-fold in the past 10 years as artificial intelligence took off.
But if you missed out on NVIDIA’s historic run, your chance to see life-changing profits from AI isn’t over.
The 24/7 Wall Street Analyst who first called NVIDIA’s AI-fueled rise in 2009 just published a brand-new research report named “The Next NVIDIA.”
The report outlines key breakthroughs in AI and the stocks ready to dominate the next wave of growth. The report is absolutely free. Simply enter your email below
By providing your email address, you agree to receive communications from us regarding website updates and other offerings that may be of interest to you.
You have the option to opt-out of these emails at any moment. For more information, please review our Disclaimer and Terms of Use.
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. 