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Republic Airways Holdings Inc. Announces Follow-on Public Offering of 7,750,000 Shares of Common Stock at $12.60 Per Share

Posted on: Tuesday, 19 July 2005, 09:01 CDT

Republic Airways Holdings Inc. (Nasdaq: RJET) today announced the follow-on public offering of 7,750,000 shares of common stock at a price of $12.60 per share. All of the shares were offered by the Company. Merrill Lynch, Pierce, Fenner & Smith Incorporated served as the sole bookrunner of the offering and Raymond James & Associates, Inc. acted as co-manager. The Company has granted to the underwriters an option to purchase up to an additional 1,162,500 shares of common stock solely to cover over-allotments. The Company intends to use the net proceeds and available cash on hand for the purchase of commuter slots and gates and the purchase of ERJ-170 aircraft and other related assets from US Airways Group, as well as other potential aircraft and asset acquisitions.

Republic Airways Holdings Inc. is a holding company that operates Chautauqua Airlines, Inc., Republic Airline Inc. and Shuttle America Corporation. As of June 30, 2005, we offered scheduled passenger service on over 800 flights daily to 82 cities in 32 states, Canada and the Bahamas pursuant to code-share agreements with AMR Corp., the parent of American Airlines, Inc., US Airways, Inc., Delta Air Lines, Inc. and United Air Lines, Inc.

A copy of the final prospectus for the offering can be obtained from the offices of Merrill Lynch, Pierce, Fenner & Smith Incorporated, 4 World Financial Center, North Tower, New York, NY 10080 and Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, FL 33716.

Any offering will be made only by means of a final prospectus. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Source: Business Wire

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