American Airlines Group Announces Proposed Offerings of Common Stock and Convertible Senior Notes Due 2025
21 Junho 2020 - 5:35PM
American Airlines Group Inc. (NASDAQ: AAL) (the “Company”) today
announced proposed underwritten public offerings of $750,000,000 of
shares of its common stock (the “Common Stock” and, such offering,
the “Common Stock Offering”) and $750,000,000 aggregate principal
amount of its convertible senior notes due 2025 (the “Convertible
Notes” and such offering, the “Convertible Notes Offering”).
The Company intends to grant the underwriters of
the offerings a 30-day option to purchase, in whole or in part, up
to $112,500,000 of additional shares of Common Stock in the Common
Stock Offering and a 30-day option to purchase, in whole or in
part, up to $112,500,000 aggregate principal amount of additional
Convertible Notes in the Convertible Notes Offering, in each case
solely to cover over-allotments, if any. 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. The closing of neither the Common
Stock Offering nor the Convertible Notes Offering is conditioned
upon the closing of the other offering.
Goldman Sachs & Co. LLC, Citigroup, BofA
Securities and J.P. Morgan are acting as the joint active
book-runners and as representatives of the underwriters for the
Common Stock Offering and the Convertible Notes Offering. The
Company has filed a registration statement (including a prospectus)
with the SEC as well as preliminary prospectus supplements with
respect to each of the offerings to which this communication
relates. Before you invest, you should read the applicable
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
these offerings. You may get these documents free by visiting EDGAR
on the SEC website at www.sec.gov. Alternatively, the Company, any
underwriter or any dealer participating in the applicable offering
will arrange to send you the applicable preliminary prospectus
supplement (or, when available, the applicable final prospectus
supplement) and the accompanying prospectus upon request to:
Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200
West Street, New York, NY 10282, or by telephone at (866) 471-2526
or by email at prospectus-ny@ny.email.gs.com; Citigroup, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, or by telephone at (800) 831-9146; BofA Securities,
NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC
28255-0001, Attn: Prospectus Department, or by email at:
dg.prospectus_requests@bofa.com; or J.P. Morgan, c/o Broadridge
Financial Solutions, 1155 Long Island Ave., Edgewood, NY 11717,
Attn: Prospectus Department, or by telephone at: (866) 803-9204, or
by email at: prospectus-eq_fi@jpmchase.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 the Convertible Notes 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 StatementsCertain of the statements
contained or referred to herein, including those regarding the
proposed offerings, 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 three months
ended March 31, 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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