Allegiant Travel Company has agreed to sell $550.0 million in aggregate principal amount of its 7.250% Senior Secured Notes due 2027 at an offering price of 99.486% of their principal amount to investors in a private offering. The size of the offering was increased by $50 million from the previously announced offering size of $500 million. The Notes are expected to be issued on August 17, 2022, subject to customary closing conditions.

Each of the Company's subsidiaries will guarantee the Notes, other than Dustland, LLC, Sunseeker Resorts Inc. and its subsidiaries and certain other insignificant subsidiaries. The Notes and the related guarantees will be secured by security interests in substantially all of the property and assets of the Company and the guarantors of the Notes, excluding aircraft, aircraft engines, real property and certain other assets. The collateral that will secure the Notes currently secures the Company's existing $150.0 million 8.500% Senior Secured Notes due 2024 and the company's Term Loan B. The company will use the net proceeds from the sale of the Notes to repay the Company's Term Loan B, which has an outstanding principal amount of $533 million, and to pay costs and expenses of the transaction.