GOL Linhas Aereas Inteligentes S.A. (GOL) said its global offering of 38 million preferred shares, including preferred shares in the form of American depositary shares, or ADSs, by the Company and ASAS Investment Fund, the Company's controlling shareholder, was priced on October 8, 2009. ASAS Investment Fund will invest the entirety of the proceeds received from the sale of preferred shares in common shares newly issued by the Company. ASAS Investment Fund has granted the international and Brazilian underwriters an option to purchase up to 5.18 million additional preferred shares, including preferred shares in the form of ADSs.
The ADSs were offered to the public at a price of US$9.48 per ADS, and the preferred shares were offered to the public at a price of R$16.50 per preferred share. Upon pricing, the transaction was upsized by 10% from 34.55 million preferred shares to 38 million preferred shares.
The company said it intends to use the net proceeds of approximately US$346.6 million from the global offering and the concurrent subscription of common shares by ASAS Investment Fund, primarily for general corporate purposes and to strengthen its cash position and balance sheet.
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