American Airlines Group Inc. (NASDAQ: AAL) has disclosed today that it has launched a public offering. The company has proposed the underwritten public offering of 38,500,000 shares of its common stocks.
The airline company is planning to award the 30-day option to the underwriter to acquire in whole or in part, up to 5,775,000 shares of Common Stock. American Airlines has decided to use the profit of public offering for the company’s use. It is also planning to enhance the liquidity position of the company.
Shares of American Airlines Group Inc. (NASDAQ: AAL) has traded down -2.42% at $12.90 at the pre-market hours on Tuesday. It has exhibited a trading volume of 1.13 million shares during the pre-market trading session on Tuesday.
In the past 52-weeks of trading, this company’s share has changed between the 52-weeks low range of $8.25 and a high range of $31.44. Turning our focus on its profitability, it has return on assets, equity, and investment of -10.20%, 219.80%, and 10.30%.
AAL has a current ratio of 0.70 and it has a quick ratio of 0.60. American Airlines Group Inc has a total market capitalization of $6.80 billion at the time of writing.
AAL has disclosed that BofA Securities will be the sole underwriter for the offering. Furthermore, the company has also provided the registration statement to the SEC and also shared the prospectus related to the offering.
Shares of Airlines have seen a huge gain in Monday’s session after the announcement of COVID-19 vaccine effectiveness. Pfizer and BioNTech SE have revealed on Monday that the vaccine candidate has displayed the safety and efficacy level of 90% in the Phase III study. Moreover, the news of the fiscal stimulus package has also excited the stocks of the Airlines.