JetBlue Airways Corporation (NASDAQ: JBLU) has announced that it intends to offer some 20 million shares of common stock. It also plans to offer an aggregate of $150 million in convertible debentures in two series.
The rate, terms, conversions, and more will be negotiated at the sale. Morgan Stanley will be the lead underwriter for both offerings; and JPMorgan and Goldman Sachs listed as the co-managers for the debenture offerings. JetBlue will give the underwriters and overallotment option of 3 million shares of common stock and $1.25 million in each series of debentures.
The release also noted that 15.6% of the offerings will be reserved for Lufthansa for it to maintain its stake in the airline.
JetBlue shares rose over 3% to $5.03 today and its 52-week trading range is $2.81 to $7.74. Shares are trading down around $4.75 in the after-hours session.
JON C. OGG
June 2, 2009
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