JetBlue Airways Corporation (NASDAQ: JBLU) has announced that it intends to offer some 20 million shares of common stock. It also plans to offer an aggregate of $150 million in convertible debentures in two series.
The rate, terms, conversions, and more will be negotiated at the sale. Morgan Stanley will be the lead underwriter for both offerings; and JPMorgan and Goldman Sachs listed as the co-managers for the debenture offerings. JetBlue will give the underwriters and overallotment option of 3 million shares of common stock and $1.25 million in each series of debentures.
The release also noted that 15.6% of the offerings will be reserved for Lufthansa for it to maintain its stake in the airline.
JetBlue shares rose over 3% to $5.03 today and its 52-week trading range is $2.81 to $7.74. Shares are trading down around $4.75 in the after-hours session.
JON C. OGG
June 2, 2009
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Orare you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
