United Airlines 2010 Annual Report Download - page 111

As of December 31, 2010, UAL had two shares of junior preferred stock (par value $0.01 per share)
outstanding. In addition, UAL is authorized to issue 250 million shares of preferred stock (without par value)
under UAL’s amended and restated certificate of incorporation.
Continental
Common Stock. In connection with the Merger, on October 1, 2010, all outstanding 141 million shares of
Continental common stock were converted into and exchanged for 1.05 fully paid and nonassessable shares of
UAL common stock with any fractional shares paid in cash. The shares of Continental common stock that were
acquired by UAL were subsequently canceled and replaced with 1,000 shares of common stock ($0.01 par
value), all of which are owned by UAL as of December 31, 2010.
In August 2009, Continental completed a public offering of 14 million shares of its Continental common
stock at a price to the public of $11.20 per share, raising net proceeds of $158 million. In June 2008, Continental
completed a public offering of 11 million shares of its Continental common stock at a price to the public of
$14.80 per share, raising net proceeds of $162 million. Additionally, in the fourth quarter of 2008, Continental
completed a public offering of 13 million shares of its Continental common stock at an average price to the
public of $15.84 per share, raising net proceeds of $196 million. Proceeds from each of these offerings were used
for general corporate purposes.
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