"US Airways sells 5 million shares to investment groups
Dateline: Monday August 18, 2003
US Airways said that two private investment groups will acquire 5 million shares of the company's stock via a private placement.
The two firms, Aviation Acquisition LLC and OCM Principal Opportunities Fund II, will spend approximately $37 million, representing a per-share price of $7.34, "consistent with the common share valuation paid by the Retirement Systems of Alabama" as part of the airline's emergence from Chapter 11 protection.
"Having two new investors agreeing to participate in the US Airways restructuring is a vote of confidence in the company," said President and CEO David Siegel. US Airways added that the transaction is "part of its strategy for achieving an orderly return to the equity markets" and it continues to explore all options, including a listing of the new stock on a national exchange.--Perry Flint "
I mean come on they need to generate more cash so they can buy Midway and Mesa more RJ's.
Dateline: Monday August 18, 2003
US Airways said that two private investment groups will acquire 5 million shares of the company's stock via a private placement.
The two firms, Aviation Acquisition LLC and OCM Principal Opportunities Fund II, will spend approximately $37 million, representing a per-share price of $7.34, "consistent with the common share valuation paid by the Retirement Systems of Alabama" as part of the airline's emergence from Chapter 11 protection.
"Having two new investors agreeing to participate in the US Airways restructuring is a vote of confidence in the company," said President and CEO David Siegel. US Airways added that the transaction is "part of its strategy for achieving an orderly return to the equity markets" and it continues to explore all options, including a listing of the new stock on a national exchange.--Perry Flint "
I mean come on they need to generate more cash so they can buy Midway and Mesa more RJ's.
