PRNewswire -- MESA AIR GROUP, INC. (Nasdaq: MESA) (the "Company") announced today that is has entered into separate agreements with certain holders of its Senior Convertible Notes due 2024 (the "2024 Notes") to exchange $83.7 million in aggregate principal amount at maturity of the 2024 Notes for an aggregate of $4.9 million in cash, 10.9 million shares of the Company's common stock, no par value (the "Common Stock"), and $16.3 million in aggregate principal amount of the Company's new 8% senior unsecured notes due 2012 (the "2012 Notes"). The issuance of the Common Stock and 2012 Notes in the exchange, which is expected to close on or about February 25, 2009, is exempt from registration under the Securities Act of 1933, as amended, pursuant to Section 3(a)(9) and Section 4(2) thereof. These new agreements have terms that are substantially similar to former agreements with the same holders of 2024 Notes that were previously rescinded.
