Spirit Airlines could raise up to $320 million in its initial public offering after it priced shares between $14 and $16 yesterday.

The ultra low cost carrier initially sought to raise $300 million when it filed for its IPO last September. The airline will use most of the funds to pay off debt.

Florida-based Spirit now operates more than 150 flights per day to 40 destinations. The airline employs nearly 2,300 workers.

Source: Reuters