MergerMay 13, 2026, 04:42 PM
Sun Country Airlines Acquired by Allegiant Travel Company
AI Summary
Allegiant Travel Company completed its previously announced acquisition of Sun Country Airlines on May 13, 2026. As a result, Sun Country became a wholly owned subsidiary of Allegiant. Sun Country shareholders received $4.10 in cash and 0.1557 shares of Allegiant common stock for each Sun Country share. In connection with the merger, Sun Country terminated its Credit and Guaranty Agreement and the Income Tax Receivable Agreement, which resulted in an approximately $80.4 million payment to TRA holders.
Key Highlights
- Allegiant Travel Company completed the acquisition of Sun Country Airlines on May 13, 2026.
- Sun Country shareholders received $4.10 cash and 0.1557 Allegiant common shares per share.
- Sun Country's Credit and Guaranty Agreement was terminated, with obligations satisfied.
- The Income Tax Receivable Agreement (TRA) was terminated, resulting in an $80.4 million payment.
- Outstanding Sun Country stock options and RSU awards were converted into Allegiant equivalents.