United Raises $1 Billion Via First U.S. Airline Share Sale
- Offering priced at high end of where shares were marketed
- Deal underscores efforts by airlines to weather virus crisis
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United Airlines Holdings Inc. raised $1 billion by selling new shares, stepping up efforts to increase capital to survive a collapse in travel demand.
The company sold 39.25 million shares at $26.50 apiece, with an option for underwriters to buy an extra 10%, United said in a statement Tuesday. The price is at the high end of what the stock was marketed at but about 5% below its latest close.