LAS VEGAS (AP) ¿ Allegiant Travel Co., an airline and travel operator, filed a shelf registration with regulators Tuesday for certain stockholders to sell up to $150 million in common shares and other securities. Allegiant will not receive any proceeds from the sale of the stock by its shareholders, the company said. Up to 2.25 million shares of common stock may be offered for sale by PAR Investment Partners, L.P., the company's second-largest shareholder, up to 100,000 shares may be sold by Maurice J. Gallagher, Jr., the company's CEO and largest shareholder, up to 50,000 shares may be offered by director Timothy P. Flynn, and up to 162,500 shares may be offered by non-affiliated stockholders. The securities cannot be sold until the Securities and Exchange Commission has given the approval to move forward. A shelf-registration statement may be filed up to three years in advance of a public offering. Shares of Allegiant Travel rose $1.87, or 3.4 percent, to close Tuesday at $56.57.
More from Personal Finance
What Is Crowdsourcing and How Does It Work? Definition and Example
When crowdsourcing is used properly, it can revolutionize entire industries. But what exactly is crowdsourcing and how do businesses use it?
What Is a Mutual Fund? Definition, Types and How to Invest
A mutual fund is a collective pool of money provided by individual investors to invest in various securities like stocks and bonds, and is operated by a money manager.
What Are HOA Fees? Average Cost and What They Cover
A HOA fee is one expense of owning a home and is a way for the community to pool together resources to pay for landscaping, pools and parks.