Allegiant to Acquire Sun Country in Merger

Allegiant Travel Company has filed a joint proxy statement/prospectus for its proposed acquisition of Sun Country Airlines Holdings. The transaction is structured as a two-step merger: Merger Sub 1 merges with and into Sun Country, after which Sun Country merges with and into Merger Sub 2.

If the first merger closes, Sun Country stockholders will receive fixed consideration of 0.1557 shares of Allegiant common stock plus $4.10 in cash, without interest, for each share of Sun Country common stock held immediately prior to the first merger. The exchange ratio is fixed and not adjusted for stock price changes before consummation.