Madison Air (NYSE: MAIR) prices $27.00 IPO and completes $100M private deal
Rhea-AI Filing Summary
Madison Air Solutions Corporation completed the pricing and launch of its initial public offering of Class A common stock. The company agreed to sell 82,692,308 shares at $27.00 per share, with underwriters exercising a 30-day option for an additional 12,403,846 shares, and the stock listing on the New York Stock Exchange under the symbol MAIR.
Alongside the IPO, Madison Air entered into an underwriting agreement and a suite of governance, tax, separation, transition, registration rights, lock-up and indemnification arrangements with key shareholders and executives. It also adopted new equity incentive and equity appreciation plans and implemented an amended and restated certificate of incorporation and bylaws effective April 15, 2026.
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Insights
Large IPO raises primary capital and formalizes post-IPO governance.
Madison Air priced a sizable IPO of 82,692,308 Class A shares at $27.00, with underwriters taking a full 12,403,846-share option. The transaction establishes public trading under the MAIR ticker and is supported by a standard underwriting syndicate of major banks.
In parallel, the company completed extensive pre-IPO restructuring: registration rights, director nomination, tax and separation agreements, plus lock-ups for major holders. New equity incentive and equity appreciation plans were adopted, and amended charter and bylaws took effect on April 15, 2026, defining the long-term governance and compensation framework.
Madison Air also executed significant unregistered issuances, including 320,676,155 Class B shares to a holding entity and 3,703,704 additional Class B shares in a $100.0 million concurrent private placement. Future public disclosures will show how this dual-class and incentive structure influences ownership, control and dilution over time.
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initial public offering financial
Underwriting Agreement financial
Registration Rights Agreement financial
Equity Appreciation Rights Units financial
2026 Omnibus Incentive Plan financial
Amended and Restated Certificate of Incorporation financial
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