Spirit Airlines Announces Proposed Secondary Offering of 11M Shares of Common Stock

Spirit Airlines, Inc. SAVE announced today its intention to conduct a secondary offering to the public of 11,000,000 shares of common stock. In addition, the underwriters will have a 30-day option to purchase from selling stockholders up to an additional 1,650,000 shares of common stock to cover over-allotments, if any. All of the shares of common stock will be offered and sold by existing stockholders of the company, including affiliates of Oaktree Capital Management and Indigo Partners and certain members of the company's executive team, and the selling stockholders will receive all of the net proceeds from the offering. The company will not be selling any shares in the offering. Barclays Capital, Morgan Stanley and Citigroup will be joint bookrunners for the offering. Deutsche Bank Securities, Raymond James, Dahlman Rose & Company, Evercore Partners and Macquarie Capital will be the co-managers.