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Spirit Airlines ( (SAVEQ) ) has provided an update.
Spirit Airlines has filed for Chapter 11 bankruptcy protection, with proceedings being administered in the Southern District of New York. The company has launched a $350 million equity rights offering as part of its reorganization plan, which indicates significant restructuring efforts to address financial challenges. This move is expected to have implications for stakeholders, particularly as the plan suggests no recovery for holders of the company’s equity securities.
More about Spirit Airlines
YTD Price Performance: -97.62%
Average Trading Volume: 14,850,492
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $41.62M
Find detailed analytics on SAVEQ stock on TipRanks’ Stock Analysis page.