Frontier Group Holdings, an ultra low-cost US airline carrier that serves approximately 110 airports, raised $570 million by offering 30 million shares (50% secondary) at $19, the low end of the range of $19 to $21.
Frontier is an ultra low-cost carrier that offers flights throughout the US and to select near international destinations in the Americas. As of December 31, 2020, the company had a fleet of 104 narrow-body Airbus A320 family aircraft, and a commitment to purchase 156 A320neo family aircraft by the end of 2028.
Frontier Group Holdings plans to list on the Nasdaq under the symbol ULCC. Citi, Barclays, Deutsche Bank, Morgan Stanley, Evercore ISI, BofA Securities, J.P. Morgan, Nomura Securities and UBS Investment Bank acted as lead managers on the deal.
