Erickson Air-Crane prices IPO at $8, the low end of the range
Erickson Air-Crane, which provides aerial firefighting and timber harvesting service on heavy-lift helicopters, raised $38 million by offering 4.8 million shares at $8, the low end of the revised range of $8 to $9. The company will command a market value of $78.9 million. Erickson Air-Crane will list on the NASDAQ under the symbol EAC. Stifel Nicolaus Weisel, Oppenheimer & Co. and Lazard Capital Markets acted as joint bookrunners on the deal.