Erickson Air-Crane hopes to price shares between $14 and $16

Heavy-lift helicopter manufacturer and operator Erickson Air-Crane again updated its Securities & Exchange Commission share registration filing Monday.

The company said it expect to issue 6.1 million shares, priced between $13 and $15. Final pricing will come after the company meets with investors and demand is determined.

The company announced it would seek $75 million from its initial public offering in May 2010. Progress has been slow, Erickson has filed several updates in recent weeks,

In its filing, the company said it would pay down its approximately $45.4 million revolving credit line and pay off unsecured subordinated promissory notes of $22.5 million with any additional funds used for operations.

Erickson said, assuming a $14 offering price, it would wind up with approximately $67.9 million after costs associated with the offering are paid.

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