Indigo currently holds 178,834,034 shares of common stock of Frontier, representing approximately 80% of the shares outstanding1. As part of the distribution, approximately 99.4 million shares, representing approximately 44% of shares outstanding, will be distributed to
“During the past 10 years, we have made significant progress solidifying Frontier’s position as a preeminent leader in the ultra-low-cost carrier category,” said
“I am pleased to have had the opportunity to work with Bill and David to invest in and support Frontier’s growth into an industry leader throughout the duration of this limited partnership,” said
“I have long supported Frontier and believe it has the right strategy to compete and grow going forward,” said
Upon the effectiveness of the share distribution, the Company will no longer be a “controlled company” under the applicable rules of the Nasdaq Stock Market, LLC. Accordingly, the Company will make certain corporate governance changes following permitted phase-in periods. Among other things, the Company will be required to have a compensation committee consisting solely of independent directors, and a director nominations process whereby directors are selected by a nominations committee consisting solely of independent directors or by a vote of the Board of Directors in which only independent directors participate. As a result,
About Indigo Partners
Indigo Partners LLC is a private equity firm established by
Cautionary Statement Regarding Forward-Looking Statements and Information
Certain statements in this release should be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations and beliefs with respect to certain current and future events and anticipated financial and operating performance. Words such as “expects,” “will,” “plans,” “intends,” “anticipates,” “indicates,” “remains,” “believes,” “estimates,” “forecast,” “guidance,” “outlook,” “goals,” “targets” and similar expressions are intended to identify forward-looking statements. Additionally, forward-looking statements include statements that do not relate solely to historical facts, such as statements which identify uncertainties or trends, discuss the possible future effects of current known trends or uncertainties, or which indicate that the future effects of known trends or uncertainties cannot be predicted, guaranteed or assured. All forward-looking statements in this release are based upon information available on the date of this report. Indigo undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, except as required by applicable law.
Contact:
Lambert
212-222-7436
1 Percentage of ownership based on 223,886,304 shares of common stock outstanding as of