JetBlue Airwaysplans to raise funds by selling 20 million new shares and $150 million in convertible debentures, the airline said Friday.
News of the stock offering knocked JetBlue shares about 5 percent lower in extended trading Tuesday. Click here to see after-hour quotes for JetBlue.
JetBlue said it will use proceeds from its offers for general corporate purposes. The underwriters of the offers will have the option to buy as many as 3 million more shares and $11.25 million in debentures, which will mature in 2039. Debentures are interest-bearing loan certificates.
JetBlue had 272.8 million shares outstanding at the end of March. Shares dropped in aftermarket trading.
The underwriters are reserving 15.6 percent of the new shares for sale to Lufthansa, which has a stake in JetBlue.