GIG, Inc. Over-Allotment Exercised

Gulfstream International Group, Inc. underwriters of Gulfstream's recent initial public offering of its common stock have exercised, in full, their over-allotment option to purchase an additional 120,000 shares of Gulfstream's common stock at $8.00 per share...

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Gulfstream International Group, Inc. underwriters of Gulfstream's recent initial public offering of its common stock have exercised, in full, their over-allotment option to purchase an additional 120,000 shares of Gulfstream's common stock at $8.00 per share, less underwriting discounts and commissions. The option was granted in connection with Gulfstream's initial public offering of 800,000 shares.
The company has redeemed all $3,320,000 principal amount of its 12 percent subordinated debentures due March 14, 2009 as well as paid accrued and unpaid interest through the redemption date.
Gulfstream International Group, Inc. is a holding company operating Gulfstream International Airlines, Inc. and Gulfstream Training Academy, Inc. Gulfstream International operates more than 200 scheduled flights per day, serving eleven destinations in Florida and 10 destinations in the Bahamas. The Academy provides flight training services to licensed commercial pilots.