--- schema_version: "secwatch.filing_event.v1" accession: "0000950103-25-003365" form_type: "8-K15D5" ticker: "FLYYQ" cik: "0001498710" company_name: "Spirit Aviation Holdings, Inc." filed_at: "2025-03-13T23:59:59+00:00" generated_at: "2026-05-24T21:04:23.460298+00:00" event_type: "other_material" sentiment: "neutral" materiality_score: 0.95 calibrated_materiality_score: 0.95 confidence: "high" source: SEC EDGAR --- # Spirit emerges from Chapter 11 with $300M facility, $840M notes, new equity and board ## Summary - Emerged on March 12, 2025; old common stock cancelled; new parent Spirit Aviation Holdings formed. - $300M exit revolving credit facility (undrawn, $275M available) matures 2028; rates SOFR+3.25% or base+2.25%. - $840M PIK toggle senior secured notes due 2030 at 12% (8% cash, 4% PIK) or 11% all cash. - 24.3M warrants issued at $0.0001 per share; rights offering raised $296M; backstop equity raised $53.9M. - Board reconstituted: Edward Christie remains CEO; seven prior directors removed. ## SEC filing metadata - accession: 0000950103-25-003365 - form_type: 8-K15D5 - ticker: FLYYQ - cik: 0001498710 - company_name: Spirit Aviation Holdings, Inc. - filed_at: 2025-03-13T23:59:59+00:00 - event_type: other_material - sentiment: neutral - materiality_score: 0.95 - calibrated_materiality_score: 0.95 - confidence: high - sec_items: 1.01, 1.02, 2.03, 3.02, 3.03, 5.03, 5.01, 5.02, 1.03, 7.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1498710/000095010325003365/0000950103-25-003365-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1498710/000095010325003365/dp226079_8k15d5.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0000950103-25-003365 - JSON: https://secwatch.observer/filing/0000950103-25-003365.json - Plain text: https://secwatch.observer/filing/0000950103-25-003365.txt ## Key facts - Executive change H. McIntyre Garden departed as Director at Spirit Aviation Holdings, Inc.. - Action: ceased - Role: Director source text: on the Effective Date, Mark B. Dunkerley, H. McIntyre Garden, Robert D. Johnson, Barclay G. Jones III, Christine P. Richards, Myrna M. Soto and Richard Wallman ceased to be members of Former Spirit’s board of directors. evidence_url: https://www.sec.gov/Archives/edgar/data/1498710/000095010325003365/0000950103-25-003365-index.htm - Executive change Timothy Bernlohr was appointed as Director at Spirit Aviation Holdings, Inc.. - Action: appointed - Role: Director source text: On the Effective Date, the members of the Company’s board of directors (the “Board”) were appointed in accordance with the Plan and the Confirmation Order. evidence_url: https://www.sec.gov/Archives/edgar/data/1498710/000095010325003365/0000950103-25-003365-index.htm - Executive change Richard Wallman departed as Director at Spirit Aviation Holdings, Inc.. - Action: ceased - Role: Director source text: on the Effective Date, Mark B. Dunkerley, H. McIntyre Garden, Robert D. Johnson, Barclay G. Jones III, Christine P. Richards, Myrna M. Soto and Richard Wallman ceased to be members of Former Spirit’s board of directors. evidence_url: https://www.sec.gov/Archives/edgar/data/1498710/000095010325003365/0000950103-25-003365-index.htm - Executive change Robert D. Johnson departed as Director at Spirit Aviation Holdings, Inc.. - Action: ceased - Role: Director source text: on the Effective Date, Mark B. Dunkerley, H. McIntyre Garden, Robert D. Johnson, Barclay G. Jones III, Christine P. Richards, Myrna M. Soto and Richard Wallman ceased to be members of Former Spirit’s board of directors. evidence_url: https://www.sec.gov/Archives/edgar/data/1498710/000095010325003365/0000950103-25-003365-index.htm - Executive change Edward M. Christie, III was appointed as Director at Spirit Aviation Holdings, Inc.. - Action: appointed - Role: Director source text: On the Effective Date, the members of the Company’s board of directors (the “Board”) were appointed in accordance with the Plan and the Confirmation Order. evidence_url: https://www.sec.gov/Archives/edgar/data/1498710/000095010325003365/0000950103-25-003365-index.htm - Executive change David N. Siegel was appointed as Director at Spirit Aviation Holdings, Inc.. - Action: appointed - Role: Director source text: On the Effective Date, the members of the Company’s board of directors (the “Board”) were appointed in accordance with the Plan and the Confirmation Order. evidence_url: https://www.sec.gov/Archives/edgar/data/1498710/000095010325003365/0000950103-25-003365-index.htm - Executive change Christine P. Richards departed as Director at Spirit Aviation Holdings, Inc.. - Action: ceased - Role: Director source text: on the Effective Date, Mark B. Dunkerley, H. McIntyre Garden, Robert D. Johnson, Barclay G. Jones III, Christine P. Richards, Myrna M. Soto and Richard Wallman ceased to be members of Former Spirit’s board of directors. evidence_url: https://www.sec.gov/Archives/edgar/data/1498710/000095010325003365/0000950103-25-003365-index.htm - Executive change Myrna M. Soto departed as Director at Spirit Aviation Holdings, Inc.. - Action: ceased - Role: Director source text: on the Effective Date, Mark B. Dunkerley, H. McIntyre Garden, Robert D. Johnson, Barclay G. Jones III, Christine P. Richards, Myrna M. Soto and Richard Wallman ceased to be members of Former Spirit’s board of directors. evidence_url: https://www.sec.gov/Archives/edgar/data/1498710/000095010325003365/0000950103-25-003365-index.htm - Executive change Robert A. Milton was appointed as Director at Spirit Aviation Holdings, Inc.. - Action: appointed - Role: Director source text: On the Effective Date, the members of the Company’s board of directors (the “Board”) were appointed in accordance with the Plan and the Confirmation Order. evidence_url: https://www.sec.gov/Archives/edgar/data/1498710/000095010325003365/0000950103-25-003365-index.htm - Executive change Barclay G. Jones III departed as Director at Spirit Aviation Holdings, Inc.. - Action: ceased - Role: Director source text: on the Effective Date, Mark B. Dunkerley, H. McIntyre Garden, Robert D. Johnson, Barclay G. Jones III, Christine P. Richards, Myrna M. Soto and Richard Wallman ceased to be members of Former Spirit’s board of directors. evidence_url: https://www.sec.gov/Archives/edgar/data/1498710/000095010325003365/0000950103-25-003365-index.htm - Executive change Mark B. Dunkerley departed as Director at Spirit Aviation Holdings, Inc.. - Action: ceased - Role: Director source text: on the Effective Date, Mark B. Dunkerley, H. McIntyre Garden, Robert D. Johnson, Barclay G. Jones III, Christine P. Richards, Myrna M. Soto and Richard Wallman ceased to be members of Former Spirit’s board of directors. evidence_url: https://www.sec.gov/Archives/edgar/data/1498710/000095010325003365/0000950103-25-003365-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.