Mesa Airgroup Inc., the parent of go! airlines said today it reached an agreement with a major holder of its senior convertible notes due 2024 to exchange $14.3 million of the notes for 13.6 million shares of the company's common stock.

The exchange is expected to close on or before Aug. 24.
Once the deal is complete, $3.1 million of the notes will remain outstanding. Earlier this year, the company retired $83.7 million of the notes.
Mesa shares rose 3 cents, or 13 percent, to close at 26.5 cents.