AP NEWS

Mesa Air Group Announces Commencement of IPO

July 30, 2018

PHOENIX--(BUSINESS WIRE)--Jul 30, 2018--Mesa Air Group, Inc. (“Mesa” or the “Company”) announced today the commencement of its initial public offering of 10,700,000 shares of its common stock, at an anticipated initial public offering price between $14.00 and $16.00 per share, pursuant to a registration statement on Form S-1 previously filed with the U.S. Securities and Exchange Commission (the “SEC”). The Company and the selling shareholders named in the registration statement granted the underwriters a 30-day over-allotment option to purchase up to an additional 1,605,000 shares of the Company’s common stock. If the overallotment option is exercised in full, 938,333 shares will be purchased directly from the Company, and 666,667 shares will be purchased directly from the selling shareholders. The Company has been approved to list its common stock on the Nasdaq Global Select Market (Nasdaq) under the symbol “MESA,” subject to official notice of issuance.

The Company intends to use the net proceeds from the offering received by it to repay certain outstanding indebtedness, to pay fees and expenses related to the offering and the remainder for general corporate purposes. The Company will not receive any proceeds from the offering of the common stock by the selling shareholders.

Raymond James and BofA Merrill Lynch are acting as lead book-running managers for the proposed offering. Cowen, Stifel and Imperial Capital are acting as additional book-running managers for the proposed offering.

This offering will be made only by means of a written prospectus. A copy of the preliminary prospectus for the offering may be obtained, when available, from: Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, FL 33716, telephone: (800) 248-8863, email: prospectus@raymondjames.com; or BofA Merrill Lynch, attention: Prospectus Department, NC1-004-03-43, 200 North College Street 3rd floor, Charlotte, NC 28255-0001, email:  dg.prospectus_requests@baml.com. A registration statement, including a prospectus, which is preliminary and subject to completion, relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Mesa Air Group, Inc.

Headquartered in Phoenix, Arizona, Mesa is a regional air carrier providing scheduled passenger service to 110 cities in 38 states, the District of Columbia, Canada, Mexico, Cuba and the Bahamas. As of March 31, 2018, Mesa operated a fleet of 145 aircraft with approximately 610 daily departures. Mesa operates all of its flights as either American Eagle or United Express flights pursuant to the terms of capacity purchase agreements entered into with American Airlines, Inc. and United Airlines, Inc. Mesa has been the fastest growing regional airline in the United States over the last five fiscal years, based on fleet growth, with a cumulative increase in aircraft of 137%.

Forward-Looking Statements

The statements contained in this release that are not historical facts are forward-looking statements. These forward-looking statements are based on Mesa’s current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to changes in global, regional or local economic, business, competitive, market, regulatory and other factors, many of which are beyond Mesa’s control. Any forward-looking statement in this release speaks only as of the date of this release. Mesa undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180730005178/en/

CONTACT: Mesa Air Group, Inc.

Investors

Brian Gillman, (602) 685-4010

investor.relations@mesa-air.com

or

Media

Amber Wansten, (602) 685-4217

media@mesa-air.com

KEYWORD: UNITED STATES NORTH AMERICA ARIZONA

INDUSTRY KEYWORD: TRANSPORT AIR

SOURCE: Mesa Air Group, Inc.

Copyright Business Wire 2018.

PUB: 07/30/2018 07:00 AM/DISC: 07/30/2018 07:01 AM

http://www.businesswire.com/news/home/20180730005178/en

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