AMR Corporation raises $400 million in public offering of common stock

AMR Corporation, a US-based airline holding company, has raised gross proceeds of $400 million in its public offering of 48.48 million shares of common stock at a price of $8.25 per share.

Update on September 22, 2009:

AMR has priced its public offering of 48.48 million shares of its common stock at a price of $8.25 per share, to raise approximately $400 million.

AMR has granted the underwriters a 30-day option to purchase up to an additional 7.27 shares of common stock, solely to cover over-allotments, if any.

The offering is expected to close on September 28, 2009.

Announcement (September 21, 2009):

AMR is planning a public offering of 30 million shares of its common stock.

AMR intends to grant the underwriters a 30-day option to purchase up to an additional 4.5 million shares of common stock to cover over-allotments.

Citigroup Global Markets, Inc., Morgan Stanley & Co., Incorporated, and UBS Securities, LLC are acting as book-running managers for the offering.

Deal Value (US$ Million) 400
Deal Type                IPO
Sub-Category             Secondary Offering
Deal Status              Completed: 2009-09-28

Deal Participants

Target (Company) AMR Corporation

Deal Rationale

AMR intends to use the net proceeds from this offering as well as from the concurrent convertible senior notes public offering for general corporate purposes and to improve its liquidity position.

Offer Price ($ per share) 8.25
No. Shares Issued         48484849

Related terms: airline, book, corporate, ipo, public offering, securities