Spirit Airlines, Inc. (NASDAQ: SAVE) has performed well since its early-summer IPO as a low-cost discount carrier in the United States, the Caribbean, and Latin America. Today is bringing some weakness after the company filed to sell shares around the lock-up period for insiders.
The S-3 Filing listed Barclays Capital, Citigroup, and Morgan Stanley as the book-runners for the offering. It also listed the firms of Deutsche Bank Securities, Raymond James, Dahlman Rose & Company, and Macquarie Capital as co-managers.
No formal share count was listed in the prospectus but it has listed the amount as being “up to $172.5 million” of Spirit’s common stock.
This ultra-low cost air carrier came public in an offering at $12.00 per share on May 26 and the post-IPO trading range since May has been $10.18 to $17.48. Shares were initially much lower on the day but the stock is down almost 5% at $15.39 on more than three-times normal trading volume.
Spirit’s Full S-3 Filing is available here.
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