American airlines group announces pricing of offerings of common stock and 6.50% convertible senior notes due 2025

Fort worth, texas, june 23, 2020 (globe newswire) -- american airlines group inc. (nasdaq: aal) (the “company”) today announced that it priced its underwritten public offering of 74,100,000 shares of its common stock (the “common stock”) (or approximately $1,000.4 million of shares of its common stock) at a public offering price of $13.50 per share (such offering, the “common stock offering”) and its underwritten public offering of $1,000,000,000 aggregate principal amount of its 6.50% convertible senior notes due 2025 (the “convertible notes” and such offering, the “convertible notes offering”). the size of the common stock offering was increased from the previously announced $750,000,000 of shares of common stock and the aggregate principal amount of the convertible notes offering was increased from the previously announced $750,000,000. the aggregate net proceeds to the company from the common stock offering and the convertible notes offering, after deducting underwriting discounts and other offering expenses, are expected to be approximately $1,936.2 million. the company expects to use the net proceeds from the common stock offering and the convertible notes offering for general corporate purposes and to enhance the company’s liquidity position.
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