AMR Prices Public Offerings of Common Stock and Convertible Senior Notes
FORT WORTH, Texas, Sept. 22 /PRNewswire-FirstCall/ -- AMR Corp. (NYSE: AMR), the parent company of American Airlines, Inc. ("American"), announced today the pricing of its offering of 48,484,849 shares of its common stock at an offering price of $8.25 per share. AMR also announced today the pricing of its offering of $400,000,000 principal amount of its 6.25% convertible senior notes due 2014.
AMR granted the underwriters of the common stock and the notes 30-day options to purchase up to an additional 7,272,727 shares of common stock and $60,000,000 principal amount of the notes, respectively, solely to cover over-allotments, if any. Completion of each offering is subject to customary closing conditions, and each offering is expected to close on Sept. 28, 2009.
The aggregate net proceeds to AMR from the common stock and notes offerings, after underwriting discounts and estimated offering expenses, will be approximately $770.5 million. AMR intends to use the net proceeds from the offerings for general corporate purposes.
Citi, Morgan Stanley and UBS Investment Bank are acting as book-running managers for both offerings.
An automatically effective shelf registration statement relating to the common stock and the notes has been filed with the Securities and Exchange Commission. This news release shall not constitute an offer to sell or the solicitation of an offer to buy the shares of common stock or the notes, nor shall there be any sale of the shares of common stock or the notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Copies of each prospectus supplement and accompanying prospectus relating to the offerings, when available, may be obtained from: Citi, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220 (tel: 800-831-9146); Morgan Stanley, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department (email: firstname.lastname@example.org); or UBS Investment Bank, Attention: Prospectus Department, 299 Park Avenue, New York, NY 10171 (tel: 888-827-7275).
SOURCE: AMR Corp.