Sun Country Airlines Holdings Inc, a hybrid low-cost air carrier company, has filed Amendment No 2 to Form S-1 Registration Statement on March 8, 2021 with the U.S. Securities and Exchange Commission to announce terms for its IPO.
The company plans to raise $200 million by offering 9.1 million shares at a price range of $21 to $23. Assuming a successful IPO at the midpoint of the proposed price, the company expects a market capitalization of $1.3 billion.
The company is a new breed of hybrid low-cost air carrier that dynamically deploys shared resources across our synergistic scheduled service, charter and cargo businesses. They focus on serving leisure and visiting friends and relatives’ passengers and charter customers and providing CMI service to Amazon, with flights throughout the United States and to destinations in Mexico, Central America and the Caribbean.
The Minneapolis, Minnesota-based company was founded in 1982 and booked $458 million in revenue for the 12 months ended September 30, 2020. It plans to list on the Nasdaq Global Select Market under the symbol “SNCY.” Barclays, Morgan Stanley, Deutsche Bank, Goldman Sachs and Nomura Securities are underwriters of the IPO.
The company engages Paul, Weiss, Rifkind, Wharton & Garrison LLP as US Securities Counsel, and KPMG LLP as Independent Auditor.
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