IPO Price at Low End

Aviation Distributors Inc. said its 1.2-million-share initial public offering was priced at $5 a share, the low end of its estimated price range. The company, which supplies new and used aircraft parts, had expected the shares to be priced at $5 to $7. Proceeds, estimated at $4.75 million, will be used to repay debt, to pay part of a legal settlement and to provide working capital.