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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”.
Summary not available.
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.