Spirit Airlines proposes secondary offering of 11 million shares of common stock

Spirit Airlines announced (17-Jan-2012) plans to conduct a secondary offering to the public of 11 million shares of common stock. In addition, the underwriters will have a 30-day option to purchase from selling stockholders up to an additional 1.65 million shares of common stock to cover over-allotments, if any. All of the shares of common stock will be offered and sold by existing stockholders of the company and the selling stockholders will receive all net proceeds from the offering. The company will not be selling any shares in the offering. [more - original PR]