Cyrus Capital-backed Virgin America Sets IPO Itinerary
November 04, 2014
Virgin America, a company backed by Cyrus Capital Partners, has set terms for its IPO, planning to list on the NASDAQ under the ticker symbol VA. The company will list over 13.3 million shares in a price range between $21 and $24, setting up a roughly $300 million offering if shares price at the range midpoint. As part of the IPO, Cyrus Capital's ownership stake will be diluted to 32.8% from 39.9%.
Launched in 2007, Virgin America provides air travel throughout the continental U.S. and Mexico, primarily operating from its focus cities of Los Angeles and San Francisco to other major business and leisure destinations in North America.