ITHAX Acquisition closed its upsized IPO of 24.15 million units, including 3.150 million units issued pursuant to the full exercise by the underwriters of their over-allotment option. The offering was priced at $10 per unit, resulting in gross proceeds of $241.5 million. The SPAC in its initial S-1 filing with the SEC planned a $210 million raise.
ITHAX said it will target businesses that have an enterprise value in excess of $600 million, are currently in the leisure, hospitality, travel, and related services sectors.
The SPAC’s units trade on the Nasdaq under ITHXU. Read more.
