- Joe Breitfeller
Allegiant Travel Announces Common Stock Offering, Price of Offering
Allegiant Travel Company has commenced the offering of 1.35 million shares of common stock priced at $219.00 per share for aggregate proceeds of $295.7 million. The offering is expected to close on or about May 10, 2021.
On Wednesday (May 5, 2021), Allegiant Travel Company (NASDAQ: ALGT) announced the commencement of an underwritten public offering of 1.35 million common shares. The company expects to grant the underwriters a 30-day option to purchase up to an additional 202,500 additional shares. In a follow-up announcement, Allegiant announced that the shares have been priced at $219.00 per share, for aggregate gross proceeds of $295.7 million. The offering is expected to close on or about May 10, 2021 and the company plans on using the net proceeds for growth opportunities, and general corporate purposes, including the acquisition of aircraft and repayment of debts. Barclays and Morgan Stanley are acting as underwriters for the offering.
Founded in 1999, Las Vegas, Nevada-based Allegiant Travel Company (NASDAQ: ALGT) links passengers from small to medium cities to world-class leisure destinations with all non-stop flights and industry-low average fares. The company offers base airfares that are often half the price of a typical roundtrip ticket and operates an all-Airbus A320 Family fleet.
Source: Allegiant Travel Company