Virgin America IPO may value it for 1 billion USD

Noam Stiekema

Virgin America IPO may value it to 1 billion USD, after issuing of about 13.3 million shares in the range of 21-24 USD per share. The company plans to use its profit from the IPO for general corporate purposes, including working capital, sales and marketing activities, general and administrative expenses and capital expenditures. Virgin America […]

Virgin America IPO

Virgin America IPOVirgin America IPO may value it to 1 billion USD, after issuing of about 13.3 million shares in the range of 21-24 USD per share. The company plans to use its profit from the IPO for general corporate purposes, including working capital, sales and marketing activities, general and administrative expenses and capital expenditures. Virgin America says its shares will be listed on the Nasdaq Global Select Market under the symbol VA.

Details of Virgin America IPO come after the company announced that its revenue for the third quarter increased by 24% due to improved passenger traffic and higher fares. After offering the shares of Virgin America will reach 43.2 million, which value the company at up to 1 billion USD at the upper end of the price in the offer.

The company, which is partly owned by the Virgin Group Ltd of the billionaire investor Richard Branson recently generated positive results through less flights and adding shorter routes. Branson is also the founder of Virgin Galactic, which suffered a concussion after crash on Friday with her ​​rocket ship, which broke miles above the ground, killing one pilot and seriously injuring another.

In the last reporting period, Virgin America reported a profit of 41.6 million USD, compared to 33,500,000 USD an year earlier. The revenues increased by 4.7% to 405.5 million USD. The average ticket prices rose by 3.8%, while passenger traffic improved 2.8%. The capacity fell 0.8%, while the percentage of fullness seats increased to 83.5% from 80.5%. The revenue from passenger space for a mile – a key measure of performance for the industry – grew by 4.3%.

Read this next

Digital Assets

Cathie Wood’s sponsored Bitcoin ETF sees historic $200 million inflows

The ARK 21Shares Bitcoin ETF (ARKB), co-sponsored by Cathie Wood’s ARK Invest, registered historic inflows exceeding $200 million on Wednesday, signaling a robust appetite among investors for Bitcoin-centric investments.

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

Digital Assets

BlockDAG’s Presale Hits $9.9M, MultiversX & MINA Price Predictions Show Green

Read about BlockDAG’s promising $10 prediction and insights on MultiversX Price Prediction as MINA’s potential unfolds.

Digital Assets

Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.

Retail FX

Prop firm The Funded Trader shuts down, claims relaunch in April

Prop trading firm The Funded Trader has ceased all operations, with claims for a relaunch in the near future.

Digital Assets

Ethereum-Based Tokenized Real Estate Platform USP Launches On Republic

How This Californian Startup Is Revolutionizing Real Estate Investment through Ethereum-Based Tokenization.

Digital Assets

Sui Spikes in Weekly DEX Volume, Joins Top 10 of All Blockchains

March DEX volume on Sui stands at over $2.88B – up more than 49% from February – with decentralized exchange Cetus and wholesale liquidity layer DeepBook leading.

Digital Assets

Prisma Finance suffers $10 million crypto exploit, attack ongoing

Liquid staking protocol Prisma Finance fell victim to a security exploit on March 28, resulting in nearly $10 million in Prisma mkUSD and wrapped stETH being stolen by hackers.

<