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Stock impact report

United Raises $1 Billion Via First U.S. Airline Share Sale [Yahoo! Finance News]

United Airlines Holdings, Inc. (UAL) 
Last united airlines holdings, inc. earnings: 4/30 04:30 pm Check Earnings Report
US:NYSE Investor Relations: ir.united.com
) -- 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.The share sale, the first by a major U.S. airline during the coronavirus pandemic, underscores efforts by carriers to raise additional funds even after the government stepped in with $50 billion in grants and loans. Passenger totals have fallen about 95% in the U.S. as the disease and government travel restrictions keep many people at home.The push for liquidity reflects uncertainty over how long fears of the virus will prompt travelers to avoid flying, further exacerbating the industry’s deep financial troubles. United’s offering may open the doors to similar transactions by other carriers. A Show less Read more
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