Major Shareholder Finalizes $742.8M Secondary ADS Offering Terms
LTM has more than doubled off its 52-week low of $26.36 on elevated volume (2.7× avg).
Summary
LATAM Airlines Group S.A. filed the definitive Underwriting Agreement for a $742.8 million secondary offering of 12 million ADSs by Sixth Street Partners, finalizing the terms and pricing of the previously announced sale.
Key Events · Ownership and Investor Activity · LTM
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Underwriting Agreement Filed
The company filed the full Underwriting Agreement for the secondary offering of 12,000,000 American Depositary Shares (ADSs) by Sixth Street Partners entities.
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Offering Terms Finalized
The agreement, dated February 9, 2026, confirms the public offering price of $61.90 per ADS, finalizing terms initiated with a preliminary prospectus on 2026-02-09.
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Significant Shareholder Sale
The offering represents a substantial liquidation of approximately $742.8 million by a major institutional shareholder, with no proceeds going to the company.
Analysis · LTM · Energy & Transportation
This 6-K filing provides the definitive Underwriting Agreement for the secondary offering of 12 million American Depositary Shares (ADSs) by Sixth Street Partners entities. The agreement, dated February 9, 2026, formalizes the terms and pricing of the offering at $61.90 per ADS, following a preliminary prospectus filed on 2026-02-09. This transaction, valued at approximately $742.8 million, represents a substantial liquidation by a major institutional shareholder. As a secondary offering, the company itself does not receive any proceeds, which can be viewed negatively by investors as it increases the outstanding share count without providing new capital for corporate operations.
At the time of this filing, LTM was trading at $61.37 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $18B. The 52-week trading range was $26.36 to $70.42. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.