Akin Gump advised Virgin America Inc. shareholder Cyrus Capital Partners in the initial public offering of the airline’s stock, which began trading today on the New York Stock Exchange. Cyrus controls VAI Partners, one of Virgin America’s biggest shareholders. At an offering price of $23 per share, the IPO raised approximately $306 million, meeting expectations.
Concurrent with the IPO, Akin Gump also advised Cyrus Capital in its planned sale with the Virgin Group, another of the airline’s major shareholders, of roughly $52.1 million in shares in Virgin American to PAR Capital.
Trey Muldrow, a partner in Akin Gump’s corporate practice, led the team advising Cyrus. He was joined by corporate partners Zachary Wittenberg and Alice Hsu and corporate associate Marianna Shelenkova.
Akin Gump’s role in this deal was subsequently noted in a Law360 article.
Source: www.akingump.com
