Sun Country Airlines Completes Secondary Offering

Paul, Weiss advised Sun Country Airlines Holdings, Inc., a hybrid low-cost air carrier, and certain of its existing stockholders, including SCA Horus Holdings, LLC, an affiliate of certain investment funds managed by affiliates of Apollo Global Management, Inc., in a secondary offering of 8,500,000 shares of Sun Country’s common stock. The shares in the secondary offering were priced at $32.50 per share, for gross proceeds of approximately $276 million to the selling stockholders. In addition, the selling stockholders granted the underwriters a 30-day option to purchase up to 1,275,000 additional shares of the company’s common stock at the public offering price, less underwriting discounts and commissions. Barclays and Morgan Stanley acted as joint lead bookrunners for the offering. Deutsche Bank Securities, Evercore ISI, Goldman Sachs & Co. LLC and Wolfe ‖ Nomura Strategic Alliance acted as bookrunners for the offering. Apollo Global Securities, AmeriVet Securities, Siebert Williams Shank and Tribal Capital Markets acted as co-managers for the offering.

The Paul, Weiss team included corporate partner Brian Janson and tax partner Brad Okun.