Spirit Airlines, Inc., a low-fare airline offering travel opportunities to and from Florida, the Caribbean and Latin America, announced terms for its IPO on Thursday. The Miramar, FL-based company plans to raise $300 million by offering 20 million shares at a price range of $14 to $16. At the mid-point of the proposed range, Spirit Airlines, Inc. will command a market value of $952 million. Spirit Airlines, Inc., which was founded in 1964 and booked $830 million in sales for the 12 months ended March 31, 2011, plans to list on the NASDAQ under the symbol SAVE. Citi and Morgan Stanley are the lead underwriters on the deal.
