secwatch.observer — SEC 8-K summary
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Issuer:     Spirit Aviation Holdings, Inc. (FLYYQ)
CIK:        0001498710
Form:       8-K
Filed at:   2025-02-12T23:59:59+00:00
Accession:  0000950103-25-001890
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Spirit rejects Frontier's $400M debt+19% equity proposal; stands by standalone recap
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- Spirit rejects Frontier's Feb 4 proposal: $400M second-lien debt + 19% equity, waiving $35M termination fee.
- Spirit's Feb 7 counterproposal offered $600M first-lien debt + $1.185B equity via market mechanism and $35M fee from Frontier.
- Frontier rejected counterproposal on Feb 10; Spirit proceeds with standalone plan seeking confirmation on Feb 13.
- Over 99.99% of voting creditors accepted Spirit's plan; all but two objections resolved.
- Spirit expects to exit Chapter 11 in Q1 2025; stock now trades on OTC Pink under SAVEQ.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1498710/000095010325001890/0000950103-25-001890-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1498710/000095010325001890/dp224690_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-25-001890

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