Republic sells another 6M shares

[lowecur]

Another $75M that can be used to buy more E-jets. Wonder who the lucky customer will be this time?

Republic Airways to Offer 6M More Shares

Wednesday February 2, 1:09 pm ET

Republic Airways Holdings Announces Follow-On Offering of 6 Million Shares at $12.50 Apiece


INDIANAPOLIS (AP) -- Republic Airways Holdings Inc., the parent of Chautauqua Airlines Inc. and Republic Airline Inc., on Wednesday announced a follow-on offering of 6 million shares at $12.50 each.

Republic Airways has 25.5 million outstanding shares.

Proceeds will be used for general corporate purposes -- including working capital, acquisitions of aircraft and parts, and potential strategic acquisitions and investments. The company said it currently has no plans for strategic acquisitions or investments.

Merrill Lynch served as the lead manager of the offering and Raymond James and UBS Securities were co-managers. The underwriters were given an option to buy up to an additional 900,000 shares to cover over-allotments.

Republic Airways shares rose 4 cents to $12.87 in midday trading on the Nasdaq.

 

[LearLove]

Didn't they do this with the last Delta order? Meaning they release shares then announce an order. Guess we will see.

 

[lowecur]

Didn't they do this with the last Delta order? Meaning they release shares then announce an order. Guess we will see.

Yes, on the 13th of Jan 05. They then announced the DCI order. Wouldn't surprise me to see an order for UAIR, or the firming up of options with DCI or UAX. They are dealing with weak carriers, but I don't believe they would have any problem leasing them if one of them goes 7.

 

[I.P. Freley]

According to what I read in USAToday (yesterday?), USAir is talking about emerging from bankruptcy come summer.

I was eating my lunch at the time and only skimmed the article, but perhaps the recent $$$ help they received has guaranteed them a future (in their minds, at least)?

 

[lowecur]

According to what I read in USAToday (yesterday?), USAir is talking about emerging from bankruptcy come summer.

I was eating my lunch at the time and only skimmed the article, but perhaps the recent $$$ help they received has guaranteed them a future (in their minds, at least)?

They have to have a decent 1st Q in my opinion. 1st Q is a wash, as nobody will make money, except the usual. If the 1st Q is a big loser, then investment bankers will shy away, and they will be left with the RSA(Bronner will pass this time). FLYi has secured enough money to last till June, thus it will give them a ticket to see if UAIR survives. If UAIR does well and gets the exit financing, then FLYi is history.

 

[SlapShot]

Perhaps the "customer" is BB's wallet.

 

[CEO silly sap]

Republic can sell as many shares as they choose, but it will not protect CHQ from the sale to Express Jet.


The poison pill wont work on this one.

 

[Afixedwing]

Republic can sell as many shares as they choose, but it will not protect CHQ from the sale to Express Jet.


The poison pill wont work on this one.

That rumor is definately possible, but it's been around so long that I'm begining to doubt it.

 

[ilovemesa]

That rumor is definately possible, but it's been around so long that I'm begining to doubt it.

I thought all rumors on flightinfo were true?