American Airlines Group Equity Distribution Update

Published on : Tuesday, December 3, 2013

American AirlinesAMR Corporation and US Airways Group, Inc. are providing details over the course of the equity distribution period that investors and creditors may find useful, corresponding to each of the key equity distribution dates under AMR’s Plan of Reorganization (Plan) and the companies’ Agreement and Plan of Merger (Merger Agreement). Today, the companies are providing an estimate of the total number of shares of American Airlines Group Inc. common stock that may be issued pursuant to the Plan and the Merger Agreement. Upon closing of the merger contemplated by the Merger Agreement, the common and preferred shares to be issued by American Airlines Group Inc. will trade on the NASDAQ Global Select Market under the ticker symbols “AAL” and “AALCP,” respectively, and will be issued to former US Airways Group, Inc. common shareholders and to AMR Corporation stakeholders as indicated under the Plan.

 

 

Using the price of $23.4815 per share calculated from the 20 trading day average closing price of US Airways Group, Inc. common stock beginningNovember 1, 2013 and ending November 29, 2013, or the Share Determination Date, US Airways Group, Inc. has a fully diluted share count as defined in the Merger Agreement of 211,698,617 shares.

 

 

Therefore, under the Merger Agreement the number of shares available for AMR stakeholders will be 544,361,824 and the total AAL share count will be 756,060,441.

 

 

20 Trading Day Average Close Price $23.4815
US Airways Fully Diluted Shares1/ 211,698,617
Shares for AMR Stakeholders 544,361,824
Total AAL Common Share Count 756,060,441
1/ Per definition in Merger Agreement

 

 

Pursuant to the Plan, shares of AAL common stock will be distributed to AMR stakeholders over time, principally over the 120 day period beginning at the date of closing of the merger, which is expected to be December 9, 2013. American Airlines Group Inc.

 

 

will provide updates as to the number of shares outstanding as of closing and at the subsequent distribution dates.

 

 

Capitalized terms used but not otherwise defined herein shall have the meanings given to them in the Plan and the Merger Agreement.

 

 

Source:- American Airlines

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