Sun Country Airlines Holdings, Inc. Announces Launch of Secondary Public Offering of Common Stock and Concurrent Share Repurchase

Core Viewpoint - Sun Country Airlines Holdings, Inc. has announced a proposed secondary public offering of 6,346,105 shares of its common stock, which will be sold by an affiliate of certain investment funds managed by Apollo Global Management, Inc. The company itself will not sell any shares or receive any proceeds from this offering [1][2]. Group 1: Offering Details - The offering consists of all remaining shares owned by the Selling Stockholder [1]. - Sun Country Airlines has authorized a Concurrent Share Repurchase of approximately $10 million of shares at the same price as the offering, to be funded from existing cash [3]. - Barclays and Morgan Stanley are acting as joint bookrunners and underwriters for the proposed offering, which may be sold through various methods including direct sales, brokerage transactions, or negotiated transactions [4]. Group 2: Company Overview - Sun Country Airlines is characterized as a hybrid low-cost air carrier, focusing on leisure and visiting friends and relatives (VFR) passengers, as well as charter customers and cargo services, particularly to Amazon [7].