Frontier Group Holdings Inc, a low-cost courier, has filed Amendment No 3 to Form S-1 Registration Statement on March 23, 2021 with the U.S. Securities and Exchange Commission to announce terms for its IPO.
The company plans to raise $600 million by offering 30 million shares at a price range of $19 to $21. Assuming a successful IPO at the midpoint of the proposed price, the company expects a market capitalization of $4.5 billion.
The company offers flights throughout the United States and to select near international destinations in the Americas. Their strategy is underpinned by a low-cost structure and superior low-fare brand.
The Denver, CO-based company was founded in 1994 and booked $1.3 billion in revenue for the 12 months ended December 31, 2020. It plans to list on the Nasdaq Global Select Market under the symbol “ULCC.” Citi, Barclays, Deutsche Bank, Morgan Stanley, Evercore ISI, BofA Securities, J.P. Morgan, Nomura Securities, and UBS Investment Bank are underwriters of the IPO.
The company engages Latham & Watkins LLP as US Securities Counsel, and Ernst & Young LLP as Independent Auditor.
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