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Spirit Airlines prices secondary offering at $14.50 per share

Spirit Airlines recently announced the pricing of a secondary offering of 11,000,000 shares of common stock. The price offered to the public has been pegged at $14.50 per share.

The existing stockholders of the company, including affiliates of Oaktree Capital Management and Indigo Partners and some members of the company's executive team, have put all of the shares of common stock on sale.

According to the airline, the underwriters have been given a 30-day option to buy from certain selling stockholders up to an additional 1,650,000 shares of common stock to cover over-allotments, if any.

The joint bookrunners for the offering include Barclays Capital, Morgan Stanley and Citigroup. However, the company will not receive any proceeds from this offering.

This offering is being co-managed by Deutsche Bank Securities, Raymond James, Dahlman Rose & Company, Evercore Partners and Macquarie Capital.

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