Frontier Airlines, Inc. (Nasdaq: FRNT) today announced that its board of directors has approved a plan of reorganization to form a Delaware holding company. The plan of reorganization provides that Frontier Airlines, Inc., a Colorado corporation, will become a wholly-owned subsidiary of Frontier Airlines Holdings, Inc., a Delaware corporation, and the current shareholders of Frontier Airlines will become stockholders of Frontier Airlines Holdings with the same number and percentage of shares of Frontier Airlines Holdings as they hold of Frontier Airlines prior to the reorganization. The common stock of Frontier Airlines Holdings, Inc. is expected to continue to trade on the Nasdaq National Market under the symbol "FRNT" after the reorganization. Frontier Airlines expects that the reorganization will be tax-free to its existing shareholders.
The plan of reorganization requires the approval of Frontier Airlines' shareholders. Frontier Airlines has tentatively scheduled a special meeting of shareholders for March 27, 2006, at which the approval of the reorganization will be submitted for shareholder approval. A registration statement relating to the issuance of Frontier Airlines Holdings common stock in the reorganization has been filed with the SEC but has not yet become effective. Frontier Airlines Holdings may not issue shares of its common stock prior to the time the registration statement becomes effective, and the timing of the special meeting of Frontier's shareholders will depend on the timing of the registration statement being declared effective by the SEC.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
PR Newswire
The plan of reorganization requires the approval of Frontier Airlines' shareholders. Frontier Airlines has tentatively scheduled a special meeting of shareholders for March 27, 2006, at which the approval of the reorganization will be submitted for shareholder approval. A registration statement relating to the issuance of Frontier Airlines Holdings common stock in the reorganization has been filed with the SEC but has not yet become effective. Frontier Airlines Holdings may not issue shares of its common stock prior to the time the registration statement becomes effective, and the timing of the special meeting of Frontier's shareholders will depend on the timing of the registration statement being declared effective by the SEC.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
PR Newswire
