It's official - JB buying us.
 

Now I can delete my apps with the legacies. Let's go get a dope contract.

Hell ya! No better time and we hold a ton of leverage!

Ted just said this is a great deal for shareholders and team members.... its funny how people think Ted lost, he's walking away with a 8 figure no stock, straight cash homie deal! I think Ted won! Money talks.. Enjoy your golden parachute Ted, good riddance.

+1
And other stuff

It will be interesting to see how good of a deal the $33.50/share looks to the Spirit stockholders when the deal actually closes down the line in the first half of 2024. That’s a long time from now.

I don’t think this will be an issue. Spirit stock has been getting a boost ever since the B6 offer has been on the table. If it wasn’t for B6 deal spirit stock would probably be trading in the mid to high teens right now

They said at the latest first half 2024. But it's a gamble, and it was the shareholders gamble to make.

The offer also increases by 65 cents if the merger isn’t finished by December 2023.


it’s in the fine print of the merger announcement on the JB investor relations page.

“

• JetBlue will acquire Spirit for $33.50 to up to $34.15 per share in cash, depending on the timing of closing, including 1) an accelerated prepayment of $2.50 per share in cash, payable promptly after Spirit’s stockholders approve the transaction, and 2) a ticking fee prepayment of $0.10 per share per month between January 2023 and the consummation or termination of the transaction.
  • In the event the transaction is consummated on or before December 2023, the transaction consideration will be $33.50 per share, increasing over time to up to $34.15 per share, in the event the transaction is consummated at the outside date in July 2024.
  • The transaction consideration of $33.50per share implies an aggregate fully diluted equity value of approximately $3.8 billion3 and an adjusted enterprise value of $7.6 billion4.”

Exactly. It doesn’t matter the price because the price from this point on is based on the JBLU purchase, so totally different than if it remained a stand alone

Does anyone know if this new agreement included a golden parachute for TC and the gang, and if so how much?