Akin Gump Advises Cyrus Capital Partners in Virgin America IPO
(New York) – 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 NASDAQ. 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.
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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