U.S.-based aviation company Mesa Air has closed its initial public offering of 9.6 million shares of its common stock, at a public offering price of $12 per share, thereby raising gross proceeds of $116 million.
The company and the selling shareholders have granted the underwriters a 30-day over-allotment option to purchase up to an additional 1.4 million shares of the company’s common stock.
Mesa intends to use the net proceeds from the offering received by it to repay certain outstanding indebtedness, to pay fees and expenses related to the offering and for general corporate purposes.
The shares trade on the Nasdaq Global Select Market under the symbol MESA.