Frontier announces pricing of Initial Public Offering (IPO)

 

Frontier Group Holdings, Inc. has announced the pricing of its initial public offering of 30 million shares of its common stock at a price to the public of $19.00 per share. The offering consists of 15 million shares of common stock offered by Frontier and 15 million shares of common stock to be sold by certain of Frontier’s existing stockholders. A selling stockholder has granted the underwriters a 30-day option to buy an additional 4.5 million shares of common stock from such selling stockholder at the initial public offering price, less the underwriting discount and commissions. Frontier will receive net proceeds of approximately $266 million after deducting the underwriting discount and commissions and estimated offering expenses. Frontier will not receive any proceeds from the sale of the shares by the selling stockholders.

The shares are expected to begin trading on the Nasdaq Global Select Market on April 1, 2021 under the ticker symbol “ULCC.” The offering is expected to close on April 6, 2021, subject to customary closing conditions.