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Republic Airways prices stock offering

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Republic Airways Holdings Inc. said Thursday it plans to raise $88.5 million by offering 12 million shares of its common stock in a public offering at $7.80 each.

The Indianapolis-based company said it intends to use the net proceeds from the stock offering for general corporate purposes, including to finance a portion of its new Embraer E190 aircraft order, and to bolster its liquidity position.

In addition, Republic plans to grant the underwriters a 30-day option to purchase up to an additional 15 percent of the shares sold. Goldman Sachs & Co. and Deutsche Bank Securities Inc. are serving as joint bookrunners for the offering.

On. Nov. 1, Republic announced it had ordered six Embraer 190 jets and placed a conditional firm order for 18 Embraer 190 or 195 jets. Republic plans to take delivery of the first six jets between August and December 2011.
 

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