AirTran (AAI) Sinks On Equity Offering
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Shares of AirTran Holdings, Inc. (NYSE: AAI) are reeling today after the company announced plans to sell 9 million common shares in addition to $75 million in Convertible Senior Notes.
AirTran said it intends to use the net proceeds of each of the offerings for general corporate purposes.
If the shares are priced at $5/share, the total equity offering could be nearly $140 million.
Shares of AirTran are down 17% on this news.
AirTran said it intends to use the net proceeds of each of the offerings for general corporate purposes.
If the shares are priced at $5/share, the total equity offering could be nearly $140 million.
Shares of AirTran are down 17% on this news.
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