Job Aire Group, which provides staffing services to the aviation industry, raised the proposed deal size for its upcoming IPO on Friday and disclosed financial results for the 1H24.
The Tucson, AZ-based company now plans to raise $11 million by offering 2.3 million shares at a price range of $4.50 to $5.50. The company had previously filed to offer 1.6 million shares at a range of $4.50 to $5.50. At the midpoint of the revised range, Job Aire Group will raise 41% more in proceeds than previously anticipated and command a fully diluted market value of $56.6 million and an enterprise value of $45.8 million.
Job Aire Group provides comprehensive staffing solutions across various facets of the aviation industry, with a focus on providing aviation mechanics and technicians to American aircraft maintenance facilities. The company currently sources approximately 96% of its employees from Mexico and Chile, both of which are covered by its recruiting office in Mexico.
Job Aire Group was founded in 2007 and booked $30 million in sales for the 12 months ended June 30, 2024. It plans to list on the NYSE American under the symbol JAG. Spartan Capital Securities is the sole bookrunner on the deal.
