Deal sells common shares at $8.00 apiece with $5.76 million greenshoe
By Devika Patel
Knoxville, Tenn., April 11 - Erickson Air-Crane Inc. said it priced its $38.4 million initial public offering of stock with a $5.76 million greenshoe. It expects the shares to trade on the Nasdaq under the symbol "EAC."
The company will sell 4.8 million common shares at $8.00 per share.
Stifel, Nicolaus & Co., Inc., Oppenheimer & Co. Inc. and Lazard Capital Markets LLC are the joint bookrunning managers; D.A. Davidson & Co. and Wedbush Securities Inc. are the co-managers.
Proceeds will be used to repay debt under the company's revolving credit facility.
Erickson is Portland, Ore., manufacturer of the Erickson S-64 Aircrane, a heavy-lift helicopter.
| Issuer: | Erickson Air-Crane Inc.
|
| Issue: | Common stock
|
| Amount: | $38.4 million
|
| Greenshoe: | $5.76 million
|
| Shares: | 4.8 million
|
| Price: | $8.00
|
| Warrants: | No
|
| Bookrunners: | Stifel, Nicolaus & Co., Inc., Oppenheimer & Co. Inc. and Lazard Capital Markets LLC
|
| Pricing date: | April 11
|
| Expected listing: | Nasdaq: EAC
|
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