United to Raise Up to $1 Billion in Secondary Stock Offering
United Airlines Holdings (NASDAQ: UAL) plans to raise about $1 billion in fresh equity to boost its cash reserves and help it ride out the COVID-19 crisis.
In a regulatory filing on Monday, the airline said it plans to offer 25.3 million shares. At current prices, that would raise $1.038 billion, though secondary offerings are often done at a slight discount.
Image source: United Airlines.
Source Fool.com