Sun Country Airlines Holdings, Inc. Announces Pricing of Secondary Public Offering of Common Stock and Concurrent Share Repurchases – Sun Country Airlines (NASDAQ: SNCY)

MINNEAPOLIS, Feb. 15, 2023 (GLOBE NEWSWIRE) — Sun Country Airlines Holdings, Inc. SNCY (“Sun Country Airlines”) Apollo Global Management, Inc. (“Selling Stockholders”) announced the pricing of a previously announced secondary public offering of 5,250,000 shares of its common stock by an affiliate of certain investment funds managed by affiliates of “Selling Stockholders”. The offering is expected to close on February 21, 2023, subject to customary closing conditions.

The underwriters will have a 30-day option to purchase an additional 787,500 shares of common stock from the selling stockholders. Sun Country Airlines is not selling any shares and will not receive any proceeds from the offering.

In addition, Sun Country Airlines has agreed to purchase from the Underwriters 750,000 shares of Common Stock that are the subject of the Offering, at a price per share equal to the price at which the Underwriter will purchase such Shares from the Selling Stockholder in the Offering (“Concurrent Shares”). repurchase”). Concurrent share repurchases will be made under Sun Country Airlines’ existing $50 million stock repurchase program and will reduce the remaining availability under the stock repurchase program. Sun Country Airlines intends to finance the concurrent share repurchase with existing cash.

Barclays is acting as the sole bookrunner and underwriter to the offering. The underwriters for the offering may from time to time directly or through agents, or through brokers in one or more brokerage transactions on the Nasdaq Global Select Market, or in negotiated transactions or in conjunction with dealers, offer common stock for sale. may offer shares. Such modes of sale, at a fixed price or prices that may be changed, or at market prices prevailing at the time of sale, at prices related to prevailing market prices, or at fixed prices.

The Offer was made only with a preliminary prospectus supplement and a base prospectus relating to the Offer. Copies of the preliminary prospectus supplement and the accompanying base prospectus, and when available, copies of the final prospectus supplement and the accompanying base prospectus, relating to the offering, may be obtained from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Are. Avenue, Edgewood, NY 11717, or by telephone at 888-603-5847, or by email,

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful before registration or registration. Qualify under the securities laws of any such state or jurisdiction. A shelf registration statement relating to the Common Stock Offering was filed with the US Securities and Exchange Commission and is effective.

About Sun Country Airlines
Sun Country Airlines is a new breed of hybrid low-cost air carrier with a mission to connect guests with the people and places they love, create lifelong memories and transformative experiences. Sun Country dynamically deploys shared resources across our synergistic scheduled service, charter and cargo businesses. Based in Minnesota, we focus on serving leisure and friends and relatives (“VFR”) passengers and charter customers and providing CMI service to the Amazon with flights throughout the United States and to destinations in Mexico, Central America, Canada and the Caribbean Let’s focus. ,

forward-looking statements

This press release contains forward-looking statements, which involve risks and uncertainties. These forward-looking statements include public offerings, concurrent share repurchases and other statements identified by the use of forward-looking terminology, including “estimates,” “believes,” “continues,” “may,” “projections.” ,” “expect,” “intend,” “likely,” “may,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “target,” “will ,” “shall” and, in each case, their negative or other different or comparable terminology. All statements other than statements of historical fact contained in this press release, including statements regarding the expected timing, size, and completion of the Offering and the grant of the option to purchase additional shares to the underwriters, are forward-looking statements.

These statements involve known and unknown risks, uncertainties and other important factors that could cause our actual results, performance, or achievements to differ materially from those expressed or implied by any forward-looking statements.

These forward-looking statements reflect our views with respect to future events as of the date of this press release and are based on assumptions and are subject to risks and uncertainties. These risks and uncertainties include, but are not limited to, the satisfaction of market conditions and customary closing conditions relating to the Public Offering on the anticipated terms or at all, and the satisfaction of other factors included or included by reference under the “Risks” Form The preliminary prospectus supplement on 424(b)(3) and the factors in the accompanying base prospectus are included in Sun Country Airlines’ Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Given these uncertainties, you should not place undue reliance on these forward-looking statements. These forward-looking statements represent our estimates and beliefs only as of the date of this press release and, except as required by law, we undertake no obligation to publicly update or review any forward-looking statements whether as a result of new information, future events or otherwise after the date of this press release.


Investor Relations
Chris Allen

Wendy Burt

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