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4/4/2012 9:58 AM ET

Erickson Air-Crane Inc. said it lowered the estimated initial public offering price range to between $8.00 and $9.00 per share. The company is selling 4.8 million shares of its common stock.

Earlier, Erickson Air-Crane's expected public offering price range was to be between $13.00 and $15.00 per share. Previously, the company intended to sell 5.35 million shares of its common stock.

Currently, no public market exists for the shares. Erickson Air-Crane said it has applied to list its common stock on The NASDAQ Global Market under the symbol "EAC."

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