Form 4: Apollo Stockholder SCA Horus Holdings Sells 4.8 Million Shares of Sun Country Airlines Holdings

SCA Horus Holdings, LLC, a significant shareholder of Sun Country Airlines Holdings, Inc., disposed of 4,815,000 shares of common stock at a price of $14.10 per share on November 4, 2024.

Summary

• On November 4, 2024, SCA Horus Holdings, LLC sold 4,815,000 shares of Sun Country Airlines Holdings, Inc. common stock.
• The sale price was $14.10 per share.
• Following the transaction, SCA Horus Holdings, LLC still indirectly beneficially owns 6,346,105 shares.
• The reporting persons include SCA Horus Holdings, LLC, AP VIII (SCA Stock AIV), LLC, Antoine Munfakh, and Noah Falk.
• These reporting persons disclaim beneficial ownership of the reported securities except to the extent of any pecuniary interest.

Sentiment

Score: 4

Explanation: The sentiment is slightly negative due to the large sale of shares by a major holder, which could indicate a lack of confidence or a strategic shift by the seller. However, the remaining ownership stake is still significant.

Negatives

• A major shareholder, SCA Horus Holdings, LLC, has sold a significant block of shares (4,815,000 shares), which could exert downward pressure on the stock price.

Risks

• The sale of a large block of shares by a major shareholder could create short-term market volatility.
• Continued selling pressure from SCA Horus Holdings, LLC could further depress the stock price.

Industry Context

Sales of shares by major holders are common and can be for a variety of reasons, including profit-taking or portfolio rebalancing. The impact on the stock price depends on market perception and the overall health of the company.

Comparison to Industry Standards

• Comparing this transaction to similar sales by major shareholders in the airline industry would require analyzing the size of the sale relative to the company's market capitalization and the trading volume of the stock.
• For example, if Delta Airlines or United Airlines had a similar percentage of shares sold by a major holder, it would be important to compare the market reaction and any subsequent impact on the stock price.

Stakeholder Impact

• Shareholders may experience short-term price volatility.
• Employees may be concerned about the long-term implications of a major shareholder reducing their stake.
• The company's reputation could be affected depending on the market's interpretation of the sale.

Key Dates