AMR Corporation has raised approximately $300 million through the sale of 27.1 million shares of AMR common stock. Net proceeds to AMR were $294 million. The shares of common stock were issued pursuant to AMR’s shelf registration statement, and a prospectus supplement relating to the common stock was filed with the Securities and Exchange Commission on Aug. 22, 2008.
Proceeds from the issuance, which AMR intends to use for general corporate purposes, are included in the Company’s expected total cash balance of approximately $4.9 billion, including a restricted balance of approximately $455 million, at the end of the third quarter of 2008. Merrill Lynch & Co. acted as sales agent on the equity sale.Email Post to a Friend