Spirit Airlines adjusts conversion price of 2025, 2026 notes

By Mary-Katherine Stinson

Lexington, Ky., Nov. 30 – Spirit Airlines, Inc. adjusted the conversion rate of its 4.75% convertible senior notes due 2025 and 1% convertible senior notes due 2026, according to an 8-K/A filing with the Securities and Exchange Commission.

The conversion rate for the 2025 notes has been adjusted to 94.3344 shares from 93.5957 shares of common stock, and the conversion rate for the 2026 notes has been adjusted to 24.5111 shares from 24.3192 shares of common stock in each case per $1,000 principal amount of notes.

The adjustment follows the Nov. 14 announcement that the company will pay $0.10 in cash per outstanding share of common stock on Nov. 30 to Spirit’s stockholders of record as of Nov. 24 as a merger consideration prepayment.

Spirit Airlines is a Miramar, Fla.-based low-fare airline.

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