LAS VEGAS, May 5 /PRNewswire-FirstCall/ -- Allegiant Travel Company (Nasdaq:
ALGT) announced today the pricing of 2.3 million shares of common stock
offered by certain of its selling stockholders.
(Logo: http://www.newscom.com/cgi-bin/prnh/20060516/LATU102LOGO)
The secondary offering of common stock priced at $50.00 per share and is
expected to close on May 11, 2009. The Company will not receive any of the
proceeds from the secondary offering. In the offering, 2.25 million of the
shares of common stock were offered for sale by PAR Investment Partners, L.P.
and 50,000 shares were offered by Timothy P. Flynn, a member of the Company's
board of directors.
In addition, Maurice J. Gallagher, Jr., the Company's chairman of the board,
president and chief executive officer and the Company's largest shareholder,
and the Company have granted the underwriter a 30-day option to purchase up to
345,000 shares of common stock to cover any over-allotments, of which up to
100,000 shares would be offered by Mr. Gallagher and up to 245,000 shares
would be offered by the Company.
Morgan Stanley acted as the sole manager for the offering.
The offering is being made pursuant to an effective shelf registration
statement filed with the Securities and Exchange Commission. Copies of the
final prospectus supplement and the accompanying prospectus relating to the
securities may be obtained by emailing prospectus@morganstanley.com, or by
contacting the prospectus department at Morgan Stanley & Co. Incorporated, 180
Varick Street, Second Floor, New York, New York 10014, Attention: Prospectus
Department.
This press release shall not constitute an offer to sell or a solicitation of
an offer to buy any of the securities, nor shall there be any sale of the
securities in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of such state or jurisdiction.
About the Company
Las Vegas-based Allegiant Travel Company (NASDAQ: ALGT) is focused on linking
travelers in small cities to major leisure destinations such as Las Vegas,
Orlando, Fla., Tampa/St. Petersburg, Fla., Phoenix-Mesa, Los Angeles and Fort
Lauderdale, Fla. Through its subsidiary, Allegiant Air, the Company operates a
low-cost, high-efficiency, all-jet passenger airline offering air travel both
on a stand-alone basis and bundled with hotel rooms, rental cars and other
travel related services. ALGT/G
Under the safe harbor provisions of the Private Securities Litigation Reform
Act of 1995, statements in this press release that are not historical facts
are forward-looking statements. These forward-looking statements are only
estimates or predictions based on our management's beliefs and assumptions and
on information currently available to our management. Forward-looking
statements include all statements that are not historical facts and can be
identified by the use of forward-looking terminology such as the words
"believe," "expect," "anticipate," "intend," "plan," "estimate", "project" or
similar expressions.
Forward-looking statements involve risks, uncertainties and assumptions.
Actual results may differ materially from those expressed in the
forward-looking statements. Important risk factors that could cause our
results to differ materially from those expressed in the forward-looking
statements generally may be found in our periodic reports filed with the
Securities and Exchange Commission at www.sec.gov. These risk factors include,
without limitation, the effect of the economic downturn on leisure travel,
increases in fuel prices, terrorist attacks, risks inherent to airlines,
demand for air services to our leisure destinations from the markets served by
us, our ability to implement our growth strategy, our fixed obligations, our
dependence on our leisure destination markets, our ability to add, renew or
replace gate leases, our competitive environment, problems with our aircraft,
dependence on fixed fee customers, our reliance on our automated systems,
economic and other conditions in markets in which we operate, governmental
regulation, increases in maintenance costs and insurance premiums and cyclical
and seasonal fluctuations in our operating results.
Any forward-looking statements are based on information available to us today
and we undertake no obligation to update publicly any forward-looking
statements, whether as a result of future events, new information or
otherwise.
SOURCE Allegiant Travel Company
media, Tyri Squyres, +1-702-851-7370, mediarelations@allegiantair.com, or
investors, Robert Ashcroft, +1-702-430-3275, ir@allegiantair.com, both of
Allegiant Travel Company
