MAIR Madison Air Solutions Corp
Executive Summary
Madison Air Solutions Corp (MAIR) has priced its IPO of 82.7 million Class A shares at $27.00 per share, raising $2.23 billion in gross proceeds. Concurrently, the company raised $100 million from a private placement to its founder. The net proceeds of approximately $2.15 billion will be used to repay debt, reducing interest expenses. The offering was supported by cornerstone investors committing $536.5 million. Despite strong financials and growth, the company remains under the control of its founder, who will hold 95.2% of voting power post-offering.
Key Financial Metrics
Actionable Insight
The substantial debt repayment will improve the company's balance sheet and reduce interest expenses, potentially improving future profitability. However, the dual-class structure severely limits shareholder influence, with the founder maintaining control. The significant cornerstone investor commitment suggests strong institutional support, but the limited public float and lock-up agreements may constrain trading liquidity in the near term.
Key Facts
- IPO of 82,692,308 Class A shares priced at $27.00 per share, raising $2.23 billion in gross proceeds
- Concurrent private placement of $100 million to founder Larry Gies
- Net proceeds of $2.15 billion (before expenses) will be used to repay debt
- Founder Larry Gies will control 95.2% of voting power post-offering through Class B shares with 10 votes each
- Cornerstone investors committed $536.5 million at the IPO price
- Company generated $3.3 billion in revenue and $124.3 million in net income for 2025
Financial Impact
$2.23 billion in gross proceeds from IPO plus $100 million from private placement
Risk Factors
- Founder maintains 95.2% voting control, limiting shareholder influence
- Limited public float may result in high share price volatility
- Concurrent private placement and cornerstone investments could reduce available shares for public trading
- Company remains highly leveraged despite debt repayment
Market Snapshot
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B4 Filing (Primary) | 0001193125-26-160250 |
| Document: 0001193125-26-160250-index-headers.html | 0001193125-26-160250 |
| Document: 0001193125-26-160250-index.html | 0001193125-26-160250 |
| Document: 0001193125-26-160250.txt | 0001193125-26-160250 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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May 12, 2026
11d ago
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8-K
| $41.07 $38.36 | ▼ −6.60% | ▼ −6.68% | $40.04 (−2.51%) |
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Apr 17, 2026
5w ago
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8-K
| $33.66 $34.57 | ▲ +2.70% | ▲ +1.79% | $40.04 (+18.95%) |
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Apr 17, 2026
5w ago
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424B4
| $32.45 $33.83 | ▲ +4.25% | ▲ +3.70% | $40.04 (+23.39%) |
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Apr 16, 2026
5w ago
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3
| $32.45 $33.83 | ▲ +4.25% | ▲ +3.70% | $40.04 (+23.39%) |
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Apr 16, 2026
5w ago
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3
| $32.45 $33.83 | ▲ +4.25% | ▲ +3.70% | $40.04 (+23.39%) |
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Apr 16, 2026
5w ago
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3
| $32.45 $33.83 | ▲ +4.25% | ▲ +3.70% | $40.04 (+23.39%) |
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Apr 16, 2026
5w ago
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3
| $32.45 $33.83 | ▲ +4.25% | ▲ +3.70% | $40.04 (+23.39%) |
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Apr 16, 2026
5w ago
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3
| $32.45 $33.83 | ▲ +4.25% | ▲ +3.70% | $40.04 (+23.39%) |
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Apr 6, 2026
6w ago
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S-1/A
| — | awaiting T+5 | — | — |
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Mar 16, 2026
9w ago
|
S-1/A
| — | awaiting T+5 | — | — |
US Market Status
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