ITHAX Acquisition today announced it has raised an additional $20 million for a PIPE supporting its proposed merger with Mondee, a travel marketplace with a portfolio of brands in the leisure, retail and corporate travel sectors.
Siris Capital and Eliot Management are making the additional PIPE investment, the Financial Times reports.
As announced in December, estimated cash proceeds from the transaction are expected to consist of ITHAX’s $241.5 million of cash in trust and the (now $70 million) PIPE. The deal is valued at about $1 billion. Read more.
