Allegiant Travel prices initial public offering

SBJ Staff

Posted online December 7, 2006 | 11:00 pm

Las Vegas-based Allegiant Travel Co., the parent company of Allegiant Air, has priced its initial public offering of 5 million shares of common stock at $18 per share.

Proceeds from the offering are expected to be about $82.3 million, according to an Allegiant news release issued Thursday. If underwriters choose to exercise their 30-day option to purchase up to an additional 750,000 shares to cover any overallotments, revenues would be about $94.9 million.

The offering’s revenues will be used to pay debt, purchase additional aircraft and cover general corporate costs, according to the release.

Allegiant stock will be traded on the NASDAQ Stock Market under ticker symbol “ALGT.”

Allegiant offers flights from Springfield-Branson National Airport to Orlando and Tampa, Fla., and Las Vegas.

See SBJ’s Dec. 11 issue for a look at Allegiant Air’s success in Springfield.[[In-content Ad]]