Spirit Airlines announces pricing of Initial Public Offering

MIRAMAR, FLORIDA – Spirit Airlines, Inc. (Nasdaq GS: SAVE) announced today that it has priced its initial public offering of 15,600,000 shares of common stock at a public offering price of $12.00 per share. Certain selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 2,340,000 shares of common stock to cover overallotments, if any. The common stock will begin trading on The NASDAQ Global Select Market on May 26, 2011 under the symbol “SAVE”. Proceeds from the offering to the company are expected to be approximately $171.0 million after deducting the underwriting discounts and commissions and estimated offering expenses payable.

Citi and Morgan Stanley acted as joint bookrunners for the offering. Barclays Capital, Raymond James and Dahlman Rose Company served as co-managers.

Source: Spirit Airlines