Mondee Inc., a travel technology company, is set to participate in a fireside chat at the 24th Annual Needham Growth Conference on January 14, 2022, at 11:45 am PT / 2:45 pm ET. Founder and CEO Prasad Gundumogula, COO Jim Dullum, along with executives from ITHAX Acquisition Corp. (NASDAQ: ITHX), will engage in the discussion. A live webcast will be available on Mondee's website, with a replay accessible afterward. The company aims to revolutionize leisure and corporate travel with its innovative technology platforms.
Mondee, a technology-driven travel marketplace, announced a business combination with ITHAX Acquisition Corp. (NASDAQ: ITHX). The deal, expected to close in the first half of 2022, will give the combined entity an implied equity value of about $1 billion and includes $241.5 million in trust cash. Mondee is a market leader in the North American private airfare sector with a transaction volume of over $3 billion in 2019. Existing shareholders will roll 100% of their equity into the new company, trading under the ticker symbol “MOND”.
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ITHAX Acquisition Corp. has successfully closed its upsized initial public offering of 24,150,000 units priced at $10.00 per unit, generating gross proceeds of $241.5 million. The units began trading on the Nasdaq under the ticker symbol ITHXU on January 28, 2021. Each unit consists of one Class A ordinary share and one-half of a redeemable warrant, with whole warrants exercisable at $11.50 per share. The company, sponsored by Ithaca Capital and AXIA Ventures, aims to pursue business combinations primarily in the leisure and hospitality sector.