secwatch.observer — SEC 8-K summary
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Issuer:     Spirit Aviation Holdings, Inc. (FLYYQ)
CIK:        0001498710
Form:       8-K
Filed at:   2024-12-31T23:59:59+00:00
Accession:  0000950103-24-018522
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Spirit Airlines reports $316.4M net loss for November; launches $350M rights offering
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- Net loss of $316.4M for November 2024 (first month of Chapter 11) on revenue of $351.2M.
- Cash balance end of month $203.6M; total liabilities $9.47B with equity deficit of $12.6M.
- Launched $350M equity rights offering expiring Jan 30, 2025 as part of pre-arranged restructuring plan.
- Plan contemplates current equity holders will receive no recovery; stock trades OTC Pink under SAVEQ.
- Employee headcount 7,425 at month-end vs. 7,384 at petition date (Nov 18).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1498710/000095010324018522/0000950103-24-018522-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1498710/000095010324018522/dp222864_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-24-018522

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer