Mesa Air Group prices downsized IPO at $12, well below the range
Mesa Air Group, a regional airline providing contract-based flying for United and American Airlines, raised $116 million by offering a downsized 9.6 million shares at $12, well below the $14 to $16 range after delaying pricing by one day. The Phoenix, AZ-based company originally planned to raise $161 million by issuing 10.7 million shares at the same range. At pricing, Mesa will command a fully diluted market value of $426 million and an enterprise value of $1.2 billion. Mesa Air Group plans to list on the Nasdaq under the symbol MESA. Raymond James and BofA Merrill Lynch acted as lead managers on the deal.
The article Mesa Air Group prices downsized IPO at $12, well below the range originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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