Helicopter manufacturer Erickson Air-Crane sets terms again for $75 million US IPO

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Erickson Air-Crane, which manufactures and operates S-64 heavy-lift helicopters for government and commercial use, set terms for a second time on Wednesday. The Portland, OR-based company, which postponed its deal in February, still plans to raise $75 million by offering 5.4 million shares at a price range of $13.00 to $15.00. The number of shares outstanding are now lower though, reflecting a change in preferred shares, which will convert to common stock in connection with the offering. At the midpoint of the proposed range, Erickson Air-Crane would command a market value of $142 million, down from $154 million.

Erickson Air-Crane, which was founded in 1971 and booked $153 million in sales in 2011, plans to list on the NASDAQ under the symbol EAC. Stifel Nicolaus Weisel is the bookrunner on the deal.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , IPOs

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