Gulfstream International Group Inc. Lowers IPO Offering | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-06.10.24

Airborne-NextGen-06.11.24

Airborne-Unlimited-06.12.24 Airborne-FltTraining-06.13.24

Airborne-Unlimited-06.14.24

Sun, Nov 18, 2007

Gulfstream International Group Inc. Lowers IPO Offering

Wants Proceeds For More Aircraft

Gulfstream International Group Inc., has reduced the expected price range of its initial public offering, according to a Securities and Exchange Commission filing on November 13, 2007. Gulfstream now expects the offering to price between $8 and $10 per share, compared with the previously anticipated range of $11 to $13 per share, said the Associated Press.

The company which owns a regional airline and flight training school also increased the size of the proposed IPO to 1.2 million shares from 1 million shares. The reduction lowers the company's expected net proceeds to about $8.4 million, from $10.2 million. An adjusted accounting of proceeds assumes an offering price of $9 per share.

The Fort Lauderdale, Fla.-based company Gulfstream is a holding company operating Gulfstream International Airlines Inc. and Gulfstream Training Academy Inc. Gulfstream's commercial airline operates more than 200 flights daily and serves destinations in Florida and the Bahamas. The flight academy provides training services to licensed commercial pilots.

For second quarter earnings ending June 30, Gulfstream's adjusted earnings dipped to $3.5 million from $3.8 million in the first half of 2006. During the same period, revenue grew to $61.2 million from $57.5 million.

Gulfstream expects to use the IPO's anticipated net proceeds to span its earning loss for general working capital purposes, which may include the acquisition of more aircraft or the refinancing of existing aircraft.

Gulfstream hopes to have about 3.2 million shares outstanding after the IPO. Taglich Brothers, Avondale Partners and Maxim Group are underwriting the IPO. The groups have an option to buy up to 180,000 additional shares from Gulfstream to cover any over allotments.

FMI: www.gulfstreamair.com

Advertisement

More News

ANN FAQ: Submit a News Story!

Have A Story That NEEDS To Be Featured On Aero-News? Here’s How To Submit A Story To Our Team Some of the greatest new stories ANN has ever covered have been submitted by our>[...]

Aero-News: Quote of the Day (06.12.24)

“The legislation now includes a task force with industry representation ensuring that we have a seat at the table and our voice will be heard as conversations about the futur>[...]

ANN's Daily Aero-Linx (06.12.24)

Aero Linx: Waco Museum The WACO Historical Society, in addition to preserving aviation's past, is also dedicated and actively works to nurture aviation's future through its Learnin>[...]

ANN's Daily Aero-Term (06.12.24): Adcock Range

Adcock Range National low-frequency radio navigation system (c.1930-c.1950) replaced by an omnirange (VOR) system. It consisted of four segmented quadrants broadcasting Morse Code >[...]

Airborne Affordable Flyers 06.06.24: 200th ALTO, Rotax SB, Risen 916iSV

Also: uAvionix AV-Link, Does Simming Make Better Pilots?, World Games, AMA National Fun Fly Czech sportplane manufacturer Direct Fly has finished delivering its 200th ALTO NG, the >[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2024 Web Development & Design by Pauli Systems, LC