Virgin America will price its upcoming initial public offering at $21-$24 a share, giving the airline a valuation of over $1bn.
The company is making 13.1 million of the 13.3 million shares available for public sale in the IPO, which is expected to bring in up to $320 million.
The timing is not ideal as the news comes just after a fatal crash of a Virgin Galactic test flight.
In the SEC filing, the company listed one of the risk factors as ‘negative publicity related to the Virgin brand name materially affecting our business".
The carrier posted net income of $56.2 million in the first nine months of this year, compared to a loss of $4 million in the same period last year.
It said the money raised will be used for capital expenditures, marketing, flight equipment and aircraft-operating leases.
Richard Branson’s Virgin Group has a 22% stake in Virgin America through VX Holdings.
Another major stake is owned by hedge fund Cyrus Capital Partners, which has about 40%.
C. David Cush, Virgin America chief executive said airline employees would be able buy shares in the IPO "at the same price, and at the same time, as Wall Street."
Virgin America will list on the Nasdaq under the ticker symbol ‘VA.’
