Madison Air jumps after unveiling $2.25 billion private placement
MAIR•Stock and analyst backdrop
MAIR has 501.7 million outstanding shares, per LSEG data.
Nine of 11 brokerages rate the stock "buy" or higher and two rate it "hold"; the median price target is $39.50, according to data compiled by LSEG.
As of the last close, the stock was down 7.5% from its April debut.
Investor participation and advisers
Billionaire Larry Gies, the sole manager of MAIR's controlling stockholder, will buy $300 million of shares in the placement, while Madison Solutions, an entity affiliated with Gies, is buying $320 million of shares.
Goldman Sachs acted as lead placement agent and Barclays Capital acted as placement agent.
Shares rise on funding plan for ebm-papst acquisition
Heating, ventilation and air conditioning firm Madison Air Solutions' MAIR.N shares jumped 16.4% to $29.06 after the company unveiled a $2.25 billion private placement with certain accredited investors to fund a portion of its recently announced acquisition of German fan maker ebm-papst.
