Era Helicopters plans public stock offering

Lake Charles-based helicopter operator Era Group Inc., owned by SEACOR Holdings Inc., has filed with U.S. regulators to raise up to $150 million in an initial public offering of its Class A common stock. In a filing with the U.S. Securities and Exchange Commission, the company said Goldman Sachs, JP Morgan and Deutsche Bank would be underwriting the offering. The number of shares to be offered, the price range and the timing of the proposed offering have not been determined. The company plans to use proceeds from the offering to repay a portion of advances received from SEACOR, which owns 100% of the outstanding common stock and will continue to be the controlling stockholder after the offering. The company plans to list its shares on the New York Stock Exchange under the symbol “ERA.” Era is one of the largest helicopter operators in the world and the longest-serving helicopter transport operator in the United States. To read the rest of 10/12 Corridor Weekly, click here.