Cargojet Announces New Equity Offering to Finance Aircraft Purchases

In a press release on Tuesday, Cargojet announced a $275 million equity offering aimed at growing the airline's cargo operations.  A syndicate of underwriters has agreed to purchase 1,642,000 common voting and/or variable voting shares for C$213.25 per share. With the new offering, along with the over-allotment option provided by the underwriters, the airline is expected to raise over $300 million.  Cargojet aims to put the funding to quick use, and will acquire five Boeing 767 freighter aircraft in 2021…