Indigo Partners Announces Plans to Distribute Frontier Group Holdings Common Stock to its Limited Partners By Investing.com

William A. Franke, George Roberts, and an Funding Fund Suggested by Wildcat Capital Administration Proceed to Help Frontier Group Holdings as Important Shareholders

PHOENIX, March 29, 2024 /PRNewswire/ —  Indigo Companions LLC (“Indigo”) has suggested Frontier Group Holdings, Inc. (NASDAQ: ULCC) (“Frontier” or “the Firm”), father or mother firm of Frontier Airways, Inc., that it’ll distribute the shares of Frontier frequent inventory owned by an affiliated funding fund to its members, together with William A. Franke, Chair of the Frontier Board of Administrators, and Indigo Companions buyers, together with George Roberts and an funding fund suggested by Wildcat Capital Administration, an funding advisor to plenty of shoppers, together with David Bonderman. The professional-rata, in-kind distribution is pursuant to the dissolution of the funding fund managed by Indigo established to amass the Firm in late 2013, which had a time period of 10 years.

Indigo at present holds 178,834,034 shares of frequent inventory of Frontier, representing roughly 80% of the shares excellent¹. As a part of the distribution, roughly 99.4 million shares, representing roughly 44% of shares excellent, shall be distributed to Mr. Franke, or entities instantly or not directly managed by him. Indigo intends to distribute the shares pro-rata to its buyers unaffiliated with Mr. Franke on or round April 1, 2024.

“Throughout the previous 10 years, we have now made important progress solidifying Frontier’s place as a preeminent chief within the ultra-low-cost provider class,” stated Mr. Franke. “Whereas the Indigo restricted partnership has come to its pure conclusion, I look ahead to persevering with to function Chair of the Frontier Board and taking part within the upside of the Firm’s shiny future.”

“I’m happy to have had the chance to work with Invoice and David to spend money on and help Frontier’s progress into an business chief all through the length of this restricted partnership,” stated Mr. Roberts. “As we glance to this subsequent stage in Frontier’s progress, I’m assured that Frontier will construct on the momentum created thus far.”

“I’ve lengthy supported Frontier and imagine it has the suitable technique to compete and develop going ahead,”  stated Mr. Bonderman.

Upon the effectiveness of the share distribution, the Firm will not be a “managed firm” below the relevant guidelines of the Nasdaq Inventory Market, LLC. Accordingly, the Firm will make sure company governance adjustments following permitted phase-in intervals. Amongst different issues, the Firm shall be required to have a compensation committee consisting solely of impartial administrators, and a director nominations course of whereby administrators are chosen by a nominations committee consisting solely of impartial administrators or by a vote of the Board of Administrators during which solely impartial administrators take part. Because of this, William A. Franke has resigned from the Firm’s Nominating and Company Governance Committee. Mr. Franke will stay a director and the Chair of the Board.

About Indigo Companions
Indigo Companions LLC is a non-public fairness agency established by W. A. Franke in 2003 to pursue acquisitions and strategic investments within the air transportation and associated industries. The agency was a lead investor in Tiger Airways primarily based in Singapore and Spirit Airways (NYSE:) primarily based in Ft. Lauderdale, Florida, and maintains lead investments in Wizz Air Holdings, Plc, a ULCC with a number of bases in Central and Japanese Europe; Frontier Airways, a ULCC primarily based in Denver; Volaris Airways, a ULCC primarily based in Mexico Metropolis; Cebu Pacific, a ULCC primarily based in the Philippines; and JetSMART, a ULCC primarily based in Chile. Indigo is headquartered in Phoenix, Arizona.

Cautionary Assertion Relating to Ahead-Trying Statements and Data
Sure statements on this launch needs to be thought of forward-looking statements inside the that means of Part 27A of the Securities Act of 1933, as amended, Part 21E of the Securities Trade Act of 1934, as amended, and the Non-public Securities Litigation Reform Act of 1995. These forward-looking statements are primarily based on present expectations and beliefs with respect to sure present and future occasions and anticipated monetary and working efficiency. Phrases resembling “expects,” “will,” “plans,” “intends,” “anticipates,” “signifies,” “stays,” “believes,” “estimates,” “forecast,” “steering,” “outlook,” “targets,” “targets” and related expressions are supposed to determine forward-looking statements. Moreover, forward-looking statements embody statements that don’t relate solely to historic information, resembling statements which determine uncertainties or tendencies, focus on the potential future results of present identified tendencies or uncertainties, or which point out that the long run results of identified tendencies or uncertainties can’t be predicted, assured or assured. All forward-looking statements on this launch are primarily based upon info obtainable on the date of this report. Indigo undertakes no obligation to publicly replace or revise any forward-looking assertion, whether or not on account of new info, future occasions, modified circumstances or in any other case, besides as required by relevant regulation.

Contact:

Lambert
Joanne Lessnerjlessner@lambert.com
212-222-7436

¹ Share of possession primarily based on 223,886,304 shares of frequent inventory excellent as of March 27, 2024.