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American Airlines Group Announces Stock Offering of 38.5m Shares

MIAMI – American Airlines Group (AA) has a proposed underwritten public offering of 38,500,000 shares of its common stock. The announcement comes as the company seeks to improve its financial position during the ongoing pandemic.

As a sole underwriter, Bank of America (BofA) priced the offering at US$13 per share. According to sources cited by Reuters, this represents a discount of 1.5% to the airline’s closing price this Monday. Before that day, the group’s stock had dropped at least 54% in the Dow Jones Transport Average index.

On its part, the company said that it had intentions to grant BofA a 30-day read more ⇒

Source:: “Airways Magazine”

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