Spirit Airlines in $400 Million Secondary Equity Offering

Cleary Gottlieb represented Barclays Capital Inc. as sole underwriter in the registered secondary offering of shares of common stock of Spirit Airlines, Inc. by entities affiliated with Bill Franke, who, until the offering, had served as chairman of Spirit’s board of directors. The offering involved the sale of 12,070,920 shares at an offering price of $33.39 per share. The company did not sell any shares in the offering. The deal priced on July 30 and closed on August 2.

The common stock is listed on The NASDAQ Global Select Market under the symbol “SAVE.” Cleary Gottlieb acted as counsel to the underwriters in the Spirit IPO in June 2011 and follow-on offering in January 2012, as well as the offering by certain other stockholders in July 2012. Spirit is an ultra-low cost, low-fare carrier based in South Florida that provides affordable travel opportunities in the United States, the Caribbean and Latin America.