Sun Country Airlines Holdings, Inc. announces launch of initial public offering

Sun Country Airlines Holdings, Inc. today announced the launch of its initial public offering (IPO) of 9,090,909 shares of its common stock. The initial public offering price is expected to be between $21.00 and $23.00 per share. Sun Country Airlines expects to grant to the underwriters a 30-day option to purchase up to an additional 1,363,636 shares of common stock at the initial public offering price, less underwriting discounts and commissions. The shares are expected to trade on the Nasdaq Global Select Market under the symbol “SNCY.”

Sun Country Airlines expects to receive gross proceeds of approximately $190.9 million to $209.1 million from the offering, before deducting underwriting discounts and commissions, or approximately $219.5 million to $240.4 million if the underwriters exercise their over-allotment option in full. Sun Country Airlines intends to use a portion of the net proceeds from the offering to repay in full all amounts outstanding under the CARES Act Loan and to pay fees and expenses in connection with the offering. The remainder of the net proceeds will be used for general corporate purposes.

Barclays, Morgan Stanley and Deutsche Bank Securities are acting as joint lead bookrunners for the offering, and Goldman Sachs & Co. LLC and Nomura are acting as joint bookrunners for the offering. Apollo Global Securities, AmeriVet Securities, Siebert Williams Shank and Tribal Capital Markets, LLC are acting as co-managers for the offering.