US Airways announced that Merrill Lynch will purchase 19 million shares of US common stock in an underwritten public offering at $8.50 per share. Net proceeds after the underwriting discount and estimated offering expenses will be approximately $155 million to be used for "general corporate purposes," US said. ML will have a 30-day option to purchase an additional 2.85 million shares to cover overallotments. The offer is expected to close Aug. 19. Trading in US shares was halted yesterday.

Subscribe to Access this Entire Article

"Other News - 08/14/2008" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions?

Already registered? here.