American plans to raise funds through sale of stock at USD 13.50 per share

Flyertalk has reported American is increasing its latest fundraising round to nearly USD 2 billion, adding an additional USD 500 million in stock and convertible notes, the news source said.

In a press release, American confirmed they would sell stock at USD 13.50 per share, a nearly USD 1.50 discount per share compared to its closing price on Monday, June 22.

Qualified shareholders will be able to convert their stock into convertible notes at a rate of approximately USD 16.20 per share, reflecting an increase of 20 percent compared to the stock offering.