ITHAX Acquisition called a July 15 meeting for shareholders to vote on the proposed business combination with Mondee, a travel technology company and marketplace. The SPAC also said its registration statement has been declared effective by the SEC.
Estimated cash proceeds from the transaction are expected to consist of ITHAX’s $241.5 million of cash in trust and a $70 million PIPE. The deal was announced last December.
Mondee management, which is the company’s largest shareholder, is rolling 100% of its equity into the combined company, as are all other shareholders, including Mondee’s private equity backers – funds affiliated with Morgan Stanley Investment Management and Origami. Read more.
