GOL files registration statement for global share offering
25-Aug-2009 GOL Linhas Aéreas Inteligentes S.A., the largest low-cost and low-fare airline in Latin America (the "Company"), announced today that it has filed a registration statement with the Securities and Exchange Commission for a proposed global offering of preferred shares, including preferred shares in the form of American depositary shares ("ADSs"), by the Company and ASAS Investment Fund, the Company's controlling shareholder.
The Company expects the gross proceeds from the primary portion of the global offering to be between R$550 million and R$650 million, depending on market conditions. The offering of preferred shares in Brazil will be registered with the Comissão de Valores Mobiliários, the Brazilian securities commission. ASAS Investment Fund will invest the entirety of the proceeds (excluding proceeds from the sale upon the exercise of any over-allotment options, if any) received from the sale of preferred shares, including in the form of ADSs, in common shares newly issued by the Company.
The Company intends to use the proceeds from the global offering and the concurrent subscription of common shares by ASAS Investment Fund primarily for general corporate purposes and to strengthen its balance sheet, particularly its cash and cash equivalents position.
The international offering will be led by BofA Merrill Lynch, Banco Itaú BBA, Morgan Stanley and Bradesco BBI, as joint bookrunners. BB Securities Limited is acting as placement agent outside the United States. A registration statement relating to the offering of these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.