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American Airlines Group Prices 74.1M Share Common Stock Offering At $13.50/Share

Group Inc. (NASDAQ:AAL) (the "Company") today announced that it priced its underwritten public offering of 74,100,000 shares of its common stock (the "Common Stock") (or

Benzinga · -

Group Inc. (NASDAQ:AAL) (the "Company") today announced that it priced its underwritten public offering of 74,100,000 shares of its common stock (the "Common Stock") (or approximately $1,000.4 million of shares of its Common Stock) at a public offering price of $13.50 per share (such offering, the "Common Stock Offering") and its underwritten public offering of $1,000,000,000 aggregate principal amount of its 6.50% convertible senior notes due 2025 (the "Convertible Notes" and such offering, the "Convertible Notes Offering"). The size of the Common Stock Offering was increased from the previously announced $750,000,000 of shares of Common Stock and the aggregate principal amount of the Convertible Notes Offering was increased from the previously announced $750,000,000. The aggregate net proceeds to the Company from the Common Stock Offering and the Convertible Notes Offering, after deducting underwriting discounts and other offering expenses, are expected to be approximately $1,936.2 million. 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.