ZM Equity said Monday, April 9, that it may buy between 750,000 to 1.25 million shares in the offering. With 1.25 million more shares, ZM would hold 63% of the common stock after the IPO. Portland, Ore.-based Erickson plans to raise almost $50 million via a 4.8 million share offering, priced at between $8 and $9 apiece. This was reduced from the initial 5.4 million shares to be offered at between $13 and $15 per share, or up to $93 million in proceeds. Its private equity owners have decided not to sell shares for a greenshoe option, though the company will. Instead, underwriters can buy as many as 720,000 shares from the company. 

Erickson plans to use proceeds to pay down a portion of its $51.8 million it has outstanding on its revolving credit facility. Net proceeds at the midrange $8.50 per share price should be about $33.5 million. At $8.50 a share, ZM's stake would be worth $51.5 million. If it buys 1.25 million shares, it will have invested $103.7 million since 2007.