Spirit Sells Low In Initial Public Offering

By Andrew Compart .

Spirit Airlines completed its initial public offering by selling 15.6 million shares at $12, the lower end of its lowered price range, and estimated it will receive $171 million in net proceeds after deducting underwriting discounts and expenses.

In its first day of public trading on Nasdaq, under the symbol SAVE, the South Florida-based low-cost carrier’s ...

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