ALLEGIANT TRAVEL COMPANY PRICES UPSIZED $550 MILLION OFFERING OF SENIOR SECURED NOTES

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Aug 10, 2022, 21:00 ET

LAS VEGAS, Aug. 10, 2022 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) (the "Company," "we," "us," or "our") has agreed to sell $550.0 million in aggregate principal amount of its 7.250% Senior Secured Notes due 2027 (the "Notes") at an offering price of 99.486% of their principal amount to investors in a private offering. The size of the offering was increased by $50 million from the previously announced offering size of $500 million. The Notes are expected to be issued on August 17, 2022, subject to customary closing conditions.

Each of the Company's subsidiaries will guarantee the Notes, other than Dustland, LLC, Sunseeker Resorts, Inc. and its subsidiaries and certain other insignificant subsidiaries. The Notes and the related guarantees will be secured by security interests in substantially all of the property and assets of the Company and the guarantors of the Notes, excluding aircraft, aircraft engines, real property and certain other assets. The collateral that will secure the Notes currently secures the Company's existing $150.0 million 8.500% Senior Secured Notes due 2024 and the Company's Term Loan B.

The Company will use the net proceeds from the sale of the Notes to repay the Company's Term Loan B, which has an outstanding principal amount of $533 million, and to pay costs and expenses of the transaction.

The Notes and the related guarantees have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any other jurisdiction. The Notes and the related guarantees are being offered and sold only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act ("Rule 144A") and to certain non-U.S. persons in transactions outside the United States in reliance on Regulation S under the Securities Act.

Allegiant.®

Las Vegas-based Allegiant (NASDAQ: ALGT) is an integrated travel company with an airline at its heart, focused on connecting customers with the people, places and experiences that matter most. Since 1999, Allegiant Air has linked travelers in small-to-medium cities to world-class vacation destinations with all-nonstop flights and industry-low average fares. Today, Allegiant's fleet serves communities across the nation, with base airfares less than half the cost of the average domestic round trip ticket. For more information, visit us at Allegiant.com. Media information, including photos, is available at http://gofly.us/iiFa303wrtF.

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No Offer or Solicitation

This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities and shall not constitute an offer to sell or solicitation of an offer to buy, or a sale of, any securities in any jurisdiction in contravention of applicable law.

SOURCE Allegiant Travel Company