Thayer Ventures today filed an S-4 registration statement and preliminary proxy outlining its proposed merger with Inspirato, a subscription-based provider of luxury travel experiences.
The deal gives the pro forma company an estimated enterprise value of $1.1 billion. Upon closing, the combined company would operate as Inspirato, and its stock is expected to list on the Nasdaq under ISPO.
investors led by Janus Henderson Investors and Rodina have committed to participate in a $100 million PIPE. This includes additional incremental capital from existing Inspirato shareholders Kleiner Perkins, IVP, Company founders Brent and Brad Handler, and others. There is approximately $176 million in Thayer’s trust account available, assuming no redemptions by Thayer’s shareholders.
Inspirato will receive approximately $260 million of net cash proceeds, assuming no redemptions.
Launched in 2011, Inspirato offers a subscription service for luxury travel experiences in destinations around the world. The company’s subscription platform is designed to provide a frictionless booking journey that expands the addressable market for luxury travel, while creating a new channel for real estate and hospitality partners to monetize their excess inventory.
If approved, the transaction is expected to close in the fourth quarter. Existing Inspirato shareholders will roll 100 percent of their equity into the combined company. Read more.
