Sun Country doubles target for its rare airline IPO with $240m ambition
Sun Country Airlines has more than doubled what it hopes to raise from its initial public offering, outlining plans for a revised target of $240m in gross proceeds from its public debut. Stock in the Minneapolis-based carrier will initially price at $21 to $23 per share, Sun Country said Monday. The offering includes 9.1m shares of common stock listed on the Nasdaq under the SNCY ticker, plus the option of another 1.4m shares offered to the banks managing the listing. Sun Country did not indicate in Monday’s release when its shares will begin trading. The offering adds up to between $220m and $240m in gross proceeds from the IPO. The amount far exceeds the $100m initial fund raising expectations outlined in Sun Country’s prospectus in February.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2021-03-09/unaligned/sun-country-doubles-target-for-its-rare-airline-ipo-with-240m-ambition
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Sun Country doubles target for its rare airline IPO with $240m ambition
Sun Country Airlines has more than doubled what it hopes to raise from its initial public offering, outlining plans for a revised target of $240m in gross proceeds from its public debut. Stock in the Minneapolis-based carrier will initially price at $21 to $23 per share, Sun Country said Monday. The offering includes 9.1m shares of common stock listed on the Nasdaq under the SNCY ticker, plus the option of another 1.4m shares offered to the banks managing the listing. Sun Country did not indicate in Monday’s release when its shares will begin trading. The offering adds up to between $220m and $240m in gross proceeds from the IPO. The amount far exceeds the $100m initial fund raising expectations outlined in Sun Country’s prospectus in February.<br/>
