Corrects seventh bullet to say Sun Country has authorized purchase of shares from underwriters, not Apollo
** Shares of low-cost air carrier Sun Country Airlines SNCY.O fall 3.3% to $15.95 premarket
** SNCY unveils secondary offering wherein buyout giant Apollo Global Management APO.N is selling its entire remaining stake of ~6.4 million shares
** APO acquired SNCY in 2017, then a privately held airline, from brothers Marty and Mitch Davis
** Four-years later, APO took SNCY public in New York in a successful stock market debut
** APO's remaining stake in SNCY is worth $104.7 million as of last close
** Barclays and Morgan Stanley are the joint bookrunners for the proposed offering
** SNCY has authorized the purchase of $10 million worth of shares from the underwriters
** SNCY stock fell 7.3% in 2024
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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