U Back on NYSE, Why?

dfw79

Senior
Aug 20, 2002
308
0
Any ideas when U will begin trading again? What is the procedure here on out...new IPO, etc?

Edit: Oops, Topic should be When, not Why.
 

PHL

Veteran
Aug 20, 2002
1,658
57
I was wondering the same thing. Alabama acquired 37.5% on 3/31 for its agreed $240M. The UAWGQ stock was delisted on 4/1. When will it begin trading again, and will it, in fact, go back to ''U''?
 

TomBascom

Veteran
Aug 20, 2002
660
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3A
www.greenfieldtech.com
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On 4/1/2003 9:15:12 AM dfw79 wrote:

Any ideas when U will begin trading again? What is the procedure here on out...new IPO, etc?

Edit: Oops, Topic should be When, not Why.
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From the press release:

...

Consistent with the plan of reorganization confirmed by the U.S. Bankruptcy Court on March 18, 2003, the company''s prior common stock has been cancelled. New restricted stock is being distributed in accordance with post-petition agreements. In exchange for its $240 million investment, RSA holds the lead investor position in the company with a 36.6 percent stake (on a fully diluted basis). The remaining stock will be divided as follows: Air Line Pilots Association (19.3 percent); other employees (10.8 percent); Unsecured Creditors (10.5 percent); ATSB (10.0 percent); management (7.8 percent); and General Electric (5.0 percent). US Airways will be listed on a public stock exchange, but those details were not disclosed, pending the completion of listing requirements and the distribution of unrestricted stock.
 

PITbull

Veteran
Dec 29, 2002
7,784
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www.usaviation.com
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On 4/1/2003 5:48:53 PM W:EXCH:INVOL wrote:

Stupid question- When will "other employees" (me) actually get our hands on this stock?

INVOL

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Winter Agreements:

Accelerated vesting requirments :

* 25% on the first day of the month that occurs at last 60 days following emergence from BK.

* Another 25% on Jan. 1, 2004
* Another 25% on Jan. 1, 2005
* Another 25% on Jan. 1, 2006

And we as labor still have to figure out how these shares get distributed, which mangement left up to the labor groups.