Mesa Air Group, a regional airline providing contract-based flying for United and American Airlines, raised $116 million by offering a downsized 9.6 million shares at $12, well below the $14 to $16 range after delaying pricing by one day. The Phoenix, AZ-based company originally planned to raise $161 million by issuing 10.7 million shares at the same range. At pricing, Mesa will command a fully diluted market value of $426 million and an enterprise value of $1.2 billion. Mesa Air Group plans to list on the Nasdaq under the symbol MESA. Raymond James and BofA Merrill Lynch acted as lead managers on the deal.
