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Frontier Says Spirit Is Obligated To Reimburse $25M Of Frontier's Merger-Related Costs Amid Termination; Says In The Event Spirit Enters Acquisition Agreement With Another Acquirer In Next 12 Months And Consummates Transaction, It Will Owe Frontier $69M

Frontier-Spirit Merger Agreement Termination On July 27, 2022, Frontier and Spirit mutually terminated the Merger Agreement. Accordingly, Spirit is obligated to reimburse $25 million of Frontier's incurred

Benzinga · 07/27/2022 17:12

Frontier-Spirit Merger Agreement Termination

On July 27, 2022, Frontier and Spirit mutually terminated the Merger Agreement. Accordingly, Spirit is obligated to reimburse $25 million of Frontier's incurred merger-related costs.

In the event Spirit enters into an acquisition agreement in the next twelve months with another acquiror and it subsequently consummates the transaction, Frontier will be owed an additional $69 million, as provided for in the Merger Agreement.

In a separate release issued today, Frontier highlighted its strong foundation and significant growth opportunities ahead as a standalone company. The release is available on the Investor Relations section of the Company’s website at http://ir.flyfrontier.com.