Allegiant Travel Company Announces Offering Of Common Stock

Rhea-AI Summary

Allegiant Travel Company (NASDAQ: ALGT) has launched a public offering of 1,350,000 shares of its common stock, with a 30-day underwriter option for an additional 202,500 shares. The net proceeds will support airline growth, including aircraft acquisitions and debt repayment. Barclays and Morgan Stanley are the underwriters. A registration statement, including a prospectus, has been filed with the SEC, and potential investors can access these documents through the SEC's EDGAR system or upon request.

Positive

• Proceeds will be used for airline growth opportunities and aircraft acquisition.
• Debt repayment may improve the company's financial health.

Negative

• Dilution risk for current shareholders due to the new share offering.

LAS VEGAS, May 5, 2021 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) ("Allegiant", "we," "us," or "our") has commenced an underwritten public offering of 1,350,000 shares of its common stock (the "Shares" and such offering the "Offering"). Allegiant intends to grant the underwriters of the Offering a 30-day option to purchase up to 202,500 additional Shares.

Allegiant expects to use the net proceeds of the Offering for airline growth opportunities and general corporate purposes, including the acquisition of aircraft and repayment of existing indebtedness.

Barclays and Morgan Stanley are acting as underwriters for the Offering. We have filed with the SEC a registration statement (including a prospectus) and a preliminary prospectus supplement relating to the Offering. Before you invest, you should read the preliminary prospectus supplement and the prospectus in that registration statement and other documents we have filed with the SEC for more complete information about us and the offering. You may get these documents free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, we, any underwriter or any dealer participating in the Offering will arrange to send you the preliminary prospectus supplement for the Offering and the accompanying prospectus upon request to: Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York, 11717, or by telephone at (888) 603-5847, or by email at barclaysprospectus@broadridge.com or Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014, Attention: Prospectus Department. In addition, we will arrange to send you the prospectus relating to the Offering upon request to Allegiant Travel Company, Attention: Investor Relations, 1201 North Town Center Drive, Las Vegas, Nevada 89144, or by telephone at (702) 851-7300.

Allegiant Travel Company

Las Vegas-based Allegiant (NASDAQ: ALGT) is an integrated travel company with an airline at its heart, focused on connecting customers with the people, places and experiences that matter most. Since 1999, Allegiant Air has linked travelers in small-to-medium cities to world-class vacation destinations with all-nonstop flights and industry-low average fares. Today, Allegiant's all-Airbus fleet serves communities across the nation, with base airfares less than half the cost of the average domestic roundtrip ticket. For more information, visit us at Allegiant.com. Media information, including photos, is available at http://gofly.us/iiFa303wrtF

ALGT/G

Note: This news release was accurate at the date of issuance. However, information contained in the release may have changed. If you plan to use the information contained herein for any purpose, verification of its continued accuracy is your responsibility.

For further information please visit the company's investor website: http://ir.allegiantair.com

Reference to the Company's website above does not constitute incorporation of any of the information thereon into this news release.

Allegiant Media Contact:		Investor Inquiries:
Hilarie Grey		Sherry Wilson
email: mediarelations@allegiantair.com		email: ir@allegiantair.com

 

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SOURCE Allegiant Travel Company

FAQ

What is the size of the Allegiant Travel Company stock offering?

Allegiant Travel Company is offering 1,350,000 shares, with an option for underwriters to purchase an additional 202,500 shares.

What will Allegiant Travel Company do with the proceeds from the stock offering?

The proceeds will be used for airline growth opportunities, including aircraft acquisition and repayment of existing indebtedness.

Who are the underwriters for Allegiant's stock offering?

Barclays and Morgan Stanley are acting as underwriters for the offering.

When was the stock offering announced by Allegiant Travel Company?

The stock offering was announced on May 5, 2021.

What is the impact of the stock offering on existing shareholders of ALGT?

The offering poses a dilution risk for existing shareholders due to the increase in the total number of shares available.