Sun Country Airlines (SNCY) announced the commencement of a proposed secondary public offering of 6,346,105 shares of its common stock by an affiliate of certain investment funds managed by affiliates of Apollo Global Management, which represent all the remaining shares owned by the Selling Stockholder. Sun Country Airlines is not selling any shares and will not receive any proceeds from the proposed offering. In addition, Sun Country Airlines has authorized the purchase from the underwriters of approximately $10M of shares of common stock that are the subject of the proposed offering at a price per share equal to the price at which the underwriters will purchase the shares from the Selling Stockholder in the proposed offering, subject to a maximum aggregate repurchase price of $10M. Sun Country Airlines plans to fund the Concurrent Share Repurchase from existing cash on hand. Barclays and Morgan Stanley are acting as joint bookrunners and underwriters for the proposed offering.
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