Skywest getting ready to buy what?

[DrunkIrishman]

SkyWest makes filing for proposed common stock offering


By M2
Last Update: 11/21/2005 9:29:36 AM
Data provided by

Nov 21, 2005 (M2 EQUITYBITES via COMTEX) -- SkyWest Inc (SKYW) has filed a registration statement with the US Securities and Exchange Commission for a proposed offering of 4,000,000 shares of common stock.

The airline said that the registration statement includes an underwriters' over-allotment option to purchase from SkyWest an additional 600,000 shares. Merrill Lynch & Co is the sole manager for the proposed offering, and Raymond James & Associates Inc is acting as a co-manager.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective.

These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective, SkyWest said.

 

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nevermind...

 

[Dave Benjamin]

Jerry has consistently said they are always evaluating opportunities.
I wouldn't read a whole lot into this stock deal. They may be looking to put a few bucks in the bank after shelling out over 400 mil for ASA.

Whatever is going on the market has reacted to it. The stock flirted with 34 last week and is down almost 2 bucks today trading around 29.

 

[ss278]

....I wouldn't read a whole lot into this stock deal. They may be looking to put a few bucks in the bank after shelling out over 400 mil for ASA.

Thats all it is. Jerry likes a nice fat cash cushion.

 

[crashpad]

nevermind...

Well certainly not Frontier because, no one sells a profitable airline. FlyI maybe? I've been hearing a lot of talk from the business side about buying ComedyAir.

 

[DrunkIrishman]

The reason it raised my curiosity is because they still showed about $110 million in cash after the ASA deal. Now they are issuing enough stock to raise an awful lot of capital. There is no point in doing that unless you think you'll need it to remain solvent in the event of a Delta failure, or you are going to buy a sizeable asset or assets.

 

[propsarebest]

The first press release last week about the stock offering said the offer is being made to get rid of debt.