Gulfstream International Group, Inc. ~ Initial Public Offering ~ December 2007
The Company’s subsidiary, Gulfstream International Airlines, is a commercial air carrier operating more than 200 flights per day serving 21 destinations in Florida and the Bahamas with its fleet of 35 turbo-prop aircraft. Its code share partners include Continental, United and Northwest. The airline was the 14th largest regional air carrier group in the US in terms of number of passengers flown in 2006. The Company also operates Gulfstream Training Academy that provides flight training services to licensed commercial pilots who are typically hired by regional airlines, including Gulfstream.
Net proceeds of this IPO were used to retire $3.32 Million of subordinated notes and fund working capital. The underwriting was performed by Taglich Brothers, Inc.
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