Tudor Group Commits $65 Million In New Equity

[JayBrian]

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[USA320Pilot]

New Equity Partner

ARLINGTON (theHub.com) - America West Group Holdings and US Airways Group, Inc. announced today that Tudor Investment Corp., a leading asset management firm, has made a $65 million commitment to provide equity funding for US Airways’ Plan of Reorganization (POR) in exchange for approximately 3.9 million shares of new common stock at a price of $16.50 per share.

Funding will occur along with other equity investments upon completion of the merger.

“The inclusion of Tudor as a new equity partner is a clear indication that investors continue to find great potential in our proposed merger with America West Airlines,â€￾ said President and CEO Bruce Lakefield. “We are making tremendous progress in completing a merger that will provide the combined airline financial stability in this highly competitive marketplace.â€￾

As announced, the merger will be funded by $565 million in new equity investment and participation by suppliers and business partners that will provide the company with approximately $1.5 billion in liquidity. Terms of the Tudor agreement have been filed with the U.S. Bankruptcy Court for the eastern district of Virginia.

Since the 30-day period for alternative offers on the proposed merger ended without any competing offers having been submitted, and since there are no qualified competing plan proposals, US Airways will proceed to seek confirmation of the POR implementing the merger agreement and investment agreements.

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USA320Pilot

 

[speedbird86]

New Equity Partner
Tudor Investment Corp., a leading asset management firm, has made a $65 million commitment to provide equity funding for US Airways’ Plan of Reorganization (POR) in exchange for approximately 3.9 million shares of new common stock at a price of $16.50 per share.

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