Mesa Air Group Inc., a regional carrier for American and United, raised $116 million in a downsized U.S. initial public offering seven years after exiting bankruptcy, Bloomberg News reported. Mesa Air sold 9.63 million shares for $12 each after marketing them for $14 to $16, according to data compiled by Bloomberg. The listing gives the carrier, which had planned to sell 10.7 million shares, a market value of more than $400 million. It’s Mesa’s second run as a publicly traded company. It first went public in 1987 but after filing for reorganization in 2010, it emerged from bankruptcy the following year as a private company. Its return to the public market came faster than that of Frontier Group Holdings Inc., the once publicly traded discount carrier that went bankrupt in 2008 and filed for an IPO in March 2017.
