JetBlue Airways Prices Offering Of 36.50 Mln Shares At $14.40/shr

(RTTNews) - JetBlue Airways Corp. (JBLU) said that it has priced its underwritten offering of 36.50 million shares of its common stock at a price of $14.40 per share.

The size of the offering was increased from the previously announced 35.00 million shares of common stock.

The airline expects the net proceeds from the offering, after deducting underwriting discounts and other offering expenses, to be about $506.70 million.

JetBlue said it has granted the underwriters a 30-day option to purchase up to 5.48 million additional shares of common stock at the public offering price less the underwriting discount.

JetBlue plans to use the net proceeds from the offering for general corporate purposes. The offering is expected to close on December 4.

JBLU closed Tuesday's regular trading at $15.42, up $0.33 or 2.19 percent. But, in the after hours trading, the stock dropped $0.57 or 3.70 percent.