Mesa Air Group, Inc. has announced the closing of its initial public offering of 9,630,000 shares of its common stock, at a public offering price of USD 12.00 per share, raising gross proceeds of USD 115,560,000, the company said.
Mesa said it intends to use the net proceeds from the offering received by it to repay certain outstanding indebtedness, to pay fees and expenses related to the offering and for general corporate purposes. The Company will not receive any proceeds from the offering of the common stock by the selling shareholders.
Raymond James and BofA Merrill Lynch are acting as lead book-running managers for the offering. Cowen, Stifel and Imperial Capital are acting as additional book-running managers for the offering.
Mesa Air Group, Inc. is a regional air carrier providing scheduled passenger service to 110 cities in 38 states, the District of Columbia, Canada, Mexico, Cuba and the Bahamas. As of March 31, 2018, Mesa operated a fleet of 145 aircraft with approximately 610 daily departures.