Major Shareholder Finalizes $742.8M Secondary Offering of 12 Million ADRs

summarizeSummary

LATAM Airlines Group S.A. announced that major shareholder Sixth Street Partners finalized the sale of 12 million ADRs at $61.90 per ADR, totaling $742.8 million, in a secondary offering.

check_boxKey Events

• Finalized Secondary Offering Terms

  Major shareholder Sixth Street Partners finalized the sale of 12,000,000 ADRs, an increase from the previously disclosed 9 million ADRs.

• Offering Price Set

  The ADRs were priced at US$61.90 each, slightly below the current market price.

• Substantial Transaction Value

  The total value of this secondary offering is approximately $742.8 million.

• Underwriting Agreement Signed

  An underwriting contract was signed with JP Morgan Securities LLC for the sale, with payment expected on February 11, 2026.

auto_awesomeAnalysis

This 6-K filing finalizes the terms for the previously announced secondary offering by major shareholder Sixth Street Partners. The offering size has been increased from 9 million to 12 million ADRs, and the price has been set at US$61.90 per ADR, resulting in a total transaction value of approximately $742.8 million. This significant sale by a major institutional investor, representing a substantial portion of the company's market capitalization, could create a notable overhang on the stock due to the large volume of shares entering the market. While the company itself is not raising capital, the disposition by a key shareholder signals a reduction in their stake.