Latam Airlines SEC Filings

LATAM Airlines Group S.A. filed a preliminary prospectus supplement on Form 424B7 for a secondary offering in which selling shareholders will offer 15,503,784 ADSs, each ADS representing 2,000 common shares. The company will not receive proceeds from the sale; proceeds will go to the selling shareholders. LATAM's ADSs trade on the NYSE under the symbol LTM and its common shares trade in Chile under the same symbol. As disclosed, 604,441,789,335 common shares will remain outstanding after the offering. Certain selling shareholders representing ~31.0 billion shares (~5% of common shares) will enter into 30-day lock-up agreements; separate shareholder agreements restrict sales of ~25% of shares until November 2026. For the six months ended June 30, 2025, LATAM reported consolidated net income of US$598.4 million (US$596.9 million attributable to owners), up from US$405.2 million a year earlier. Reported liquidity is US$3,643.6 million, Adjusted Net Debt is US$5,449.7 million, Adjusted Gross Leverage is 2.1x and Adjusted Net Leverage is 1.6x. The prospectus defines multiple non-IFRS metrics (Adjusted EBITDAR, Adjusted Operating Income, Adjusted CASK Ex-Fuel, Fleet Cash Cost, Unlevered/Levered Free Cash Flow) and lists material risk factors including debt service ability, macroeconomic and geopolitical risks, fuel price volatility, competition and regulatory changes.

Strategic Value Partners and affiliated entities report holdings and a recent open-market sale of LATAM ADSs. The filing shows the Reporting Persons collectively beneficially own 31,007,576,002 ADS-equivalent shares, representing 5.4% of the class based on 574,219,895,457 common shares outstanding. On September 11, 2025, they sold 5,000,000 ADSs (equal to 10,000,000,000 common shares) in the open market at $47.86 per ADS. The filing also discloses that on September 8, 2025 the Reporting Persons were granted a waiver of a prior lock-up related to an August 18 underwritten offering and agreed to customary lock-up provisions through September 19, 2025.

The cover pages list multiple affiliated reporting persons (Delaware and Luxembourg entities and Victor Khosla) with individual shared voting and dispositive power amounts and percentages included on their cover pages.

LATAM Airlines Group S.A. (ticker LTM) filed a Form 144 proposing the sale of 5,000,000 American Depositary Shares through J.P. Morgan Securities LLC. The filing lists an aggregate market value of $238,450,000.00 and reports 302,220,895 shares outstanding. The proposed approximate sale date is 09/11/2025. The ADS were acquired on 11/03/2022 in connection with the issuer's emergence from bankruptcy; the acquisition record shows an amount of 96815692279 and payment described as satisfaction of bankruptcy claims and cash. No securities sold in the past three months are reported. The filer certifies they are unaware of undisclosed material adverse information.

SIXTH STREET filed Amendment No. 5 to its Schedule 13D reporting its holdings in LATAM AIRLINES GROUP S.A. (ADS ticker LTM). The filing states that Lauca Investments sold 7,000,000 ADS in an underwritten offering at an Offering Price of $47.401 per ADS, with the offering closing on September 10, 2025. Each ADS represents 2,000 shares of underlying common stock. The reporting group continues to beneficially own 99,887,693,315 shares of common stock (shared voting and dispositive power), representing 17.4% of the class based on 574,219,895,457 outstanding shares after the issuer’s recent repurchases. The filing also discloses a 30-day lock-up agreement limiting Lauca’s ability to transfer or hedge ADS or underlying shares.

LATAM Airlines Group S.A. filed a prospectus supplement for a secondary offering of 7,000,000 ADSs at U.S.$47.600 per ADS. Each ADS represents 2,000 common shares and the ADSs will be sold by a selling shareholder; the company will receive no proceeds from the sale. For the six months ended June 30, 2025 the company reported net income of U.S.$598.4 million (U.S.$596.9 million attributable to owners), up from U.S.$405.2 million a year earlier, an increase of U.S.$193.2 million, driven by strong operational performance and healthy demand. Key balance-sheet metrics shown include Adjusted Net Debt of U.S.$5,449.7 million, Liquidity of U.S.$3,643.6 million and Adjusted Net Leverage of 1.6x. The prospectus details non-IFRS measures (Adjusted EBITDAR, Adjusted Operating Expenses), lock-up arrangements, depositary fees, and risk factors affecting airline operations.