Mesa Air Group, a regional US air carrier with a fleet of 145 aircraft, announced terms for its IPO on Monday.
The Phoenix, AZ-based company plans to raise $161 million by offering 10.7 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Mesa Air Group would command a fully diluted market value of $549 million and an enterprise value of $1.3 billion (8.3x LTM adj. EBITDA).
Mesa Air Group was founded in 1982 and booked $657 million in revenue for the 12 months ended March 31, 2018. It plans to list on the Nasdaq under the symbol MESA. Raymond James and BofA Merrill Lynch are the joint bookrunners on the deal. It is expected to price during the week of August 6, 2018.
