Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
JETBLUE AIRWAYS CORP terminated Agreement and Plan of Merger (Merger Agreement) with Spirit Airlines, Inc. valued at JetBlue agreed to pay Spirit $69 million in cash on March 5, 2024; mutual release of claims (effective 2024-03-01).
- Action
- termination
- Agreement
- merger
- Counterparty
- Spirit Airlines, Inc.
- Value
- JetBlue agreed to pay Spirit $69 million in cash on March 5, 2024; mutual release of claims
- Effective
- 2024-03-01
Exact text from the filing
As previously disclosed, on July 28, 2022, JetBlue Airways Corporation, (“JetBlue”), Sundown Acquisition Corp., a direct wholly owned subsidiary of JetBlue (“Merger Sub”) and Spirit Airlines, Inc. (“Spirit” and, together with JetBlue and Merger Sub, the “Parties”) entered into an Agreement and Plan of Merger (the “Merger Agreement”), pursuant to which and subject to the terms and conditions therein, Merger Sub would be merged with and into Spirit, with Spirit continuing as the surviving corporation. On March 1, 2024, the Parties entered into a Termination Agreement (the “Termination Agreement”), pursuant to which the Parties agreed that the Merger Agreement, including all schedules and exhibits thereto, was terminated, effective immediately, subject to limited exceptions related to JetBlue’s previously agreed indemnification obligations.
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