$Spirit Airlines (SAVE.US)$  15k share starter for me.

Stock_Drift : I just posted this

Dusters OP Stock_Drift : What’s it about

Stock_Drift Dusters OP : I have never seen this filing

Stock_Drift Dusters OP : Probably not a big deal, figure I’d pass it along

ColdJoke Stock_Drift : but, if effectuated, is expected to lead to the cancellation of the Company's existing equity

RoNo : Shareholders are wiped out boys. It’s in the 12b. Ch11 or ch7

Dusters OP RoNo : Go lay down

RoNo : Can you not read?
Spirit Airlines () announced that it had filed a Form 12b-25 with the SEC that is expected to be available on the SEC’s EDGAR filing system on Wednesday, November 13, prior to the opening of the market session. That form will contain the following disclosure: The company is unable to file its Quarterly Report on Form 10-Q for the quarter ended September 30 by the prescribed due date without unreasonable effort or expense. As previously disclosed, the company has been in active and constructive discussions with holders of its senior secured notes due 2025 and convertible senior notes due 2026 with respect to restructuring the obligations owed by the company to the Noteholders, as well as exploring strategic alternatives and other ways to improve liquidity for the company. The negotiations, with a supermajority of the Noteholders, have remained productive, have advanced materially and are continuing in the near term, but have also diverted significant management time and internal resources from the company’s processes for reviewing and completing its financial statements and related disclosures. If a definitive agreement with such Noteholders is reached and documented, it would be effectuated through a statutory restructuring that is not expected to impair general unsecured creditors, employees, customers, vendors, suppliers, aircraft lessors or holders of secured aircraft indebtedness, but, if effectuated, is expected to lead to the cancellation of the company’s existing equity. If a definitive agreement with the Noteholders is not reached, the company will consider all alternatives.

RoNo : Dusty what exactly do you read in that 12b that indicates anything other than equity wiped out?