American Airlines Group Announces Pricing of Offering of Common Stock
November 10 2020 - 8:28AM
American Airlines Group Inc. (NASDAQ: AAL) (the “Company”) today
announced that it priced its underwritten public offering of
38,500,000 shares of its common stock (the “Common Stock”). BofA
Securities may offer the Common Stock from time to time in one or
more transactions on the Nasdaq, in the over-the-counter market,
through negotiated transactions or otherwise at market prices
prevailing at the time of sale, at prices related to prevailing
market prices or at negotiated prices. The Company expects to use
the net proceeds from the offering for general corporate purposes
and to enhance the Company’s liquidity position.
The Company has granted the underwriter of the
offering a 30-day option to purchase, in whole or in part, up to
5,775,000 additional shares of Common Stock.
The offering is expected to close on November 12,
2020, subject to customary closing conditions.
BofA Securities is acting as the sole underwriter
for the offering. The Company has filed a registration statement
(including a prospectus) with the SEC as well as a preliminary
prospectus supplement with respect to the offering to which this
communication relates. Before you invest, you should read the
preliminary prospectus supplement and the prospectus in that
registration statement and other documents the Company has filed
with the SEC for more complete information about the Company and
the offering. You may get these documents free by visiting EDGAR on
the SEC website at www.sec.gov. Alternatively, the Company or the
underwriter participating in the offering will arrange to send you
the preliminary prospectus supplement (or, when available, the
final prospectus supplement) and the accompanying prospectus upon
request to: BofA Securities, NC1-004-03-43, 200 North College
Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus
Department, Email: dg.prospectus_requests@bofa.com.
This press release does not constitute an offer to
sell or a solicitation of an offer to buy the shares of Common
Stock or any other securities and shall not constitute an offer,
solicitation or sale in any jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to the registration
and qualification under the securities laws of such state or
jurisdiction.
Cautionary Statement Regarding
Forward-Looking Statements Certain of the statements
contained or referred to herein, including those regarding the
offering, should be considered forward-looking statements within
the meaning of the Securities Act of 1933, as amended, the
Securities Exchange Act of 1934, as amended, and the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements may be identified by words such as “may,” “will,”
“expect,” “intend,” “anticipate,” “believe,” “estimate,” “plan,”
“project,” “could,” “should,” “would,” “continue,” “seek,”
“target,” “guidance,” “outlook,” “if current trends continue,”
“optimistic,” “forecast” and other similar words. Such statements
include, but are not limited to, statements about the Company’s
plans, objectives, expectations, intentions, estimates and
strategies for the future, and other statements that are not
historical facts. These forward-looking statements are based on the
Company’s current objectives, beliefs and expectations, and they
are subject to significant risks and uncertainties that may cause
actual results and financial position and timing of certain events
to differ materially from the information in the forward-looking
statements. These risks and uncertainties include, but are not
limited to, those set forth herein as well as in American Airlines
Group Inc.’s Quarterly Report on Form 10-Q for the nine months
ended September 30, 2020 (especially in Part I, Item 2.
Management’s Discussion and Analysis of Financial Condition and
Results of Operations and Part II, Item 1A. Risk Factors) and other
risks and uncertainties listed from time to time in the Company’s
other filings with the Securities and Exchange Commission. In
particular, the consequences of the coronavirus outbreak to
economic conditions and the travel industry in general and the
financial position and operating results of the Company in
particular have been material, are changing rapidly, and cannot be
predicted. Additionally, there may be other factors of which the
Company is not currently aware that may affect matters discussed in
the forward-looking statements and may also cause actual results to
differ materially from those discussed. The Company does not assume
any obligation to publicly update or supplement any forward-looking
statement to reflect actual results, changes in assumptions or
changes in other factors affecting these forward-looking statements
other than as required by law. Any forward-looking statements speak
only as of the date hereof or as of the dates indicated in the
statement.
Investor Relationsinvestor.relations@aa.com
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