A merger of more than one billion
This company has bonds in the local market for USD 20 MM structured by Canal Securities, Corp.
The merger consists of the alliance between the company Ithax Acquisition Corp.a special purpose acquisition corporation (SPAC) that went public in January 2021, and Mondee Inc.a travel company based in San Mateo, California.
ITHAX shares began trading on the Nasdaq Capital Market under the symbol ITHX on January 28, 2021. The initial public offering initially raised $241.5 million.
As part of the deal consummated by the alliance, the company will additionally raise another $50 million in public equity financing [PIPE], including funds affiliated with Morgan Stanley Investment Management and other investors, which will be used to expand Mondee's offering.
A positive synergy
This acquisition that will bring two great companies into collaboration would mean a positive synergy given the shared nature of the two companies. Ithaca being a hospitality specialist and Mondee being one of the strongest providers of travel service platforms.
In this way, a holistic solution to travel could be developed by having easy access to transportation and accommodation in one place where the cooperation of these organizations could produce a combined effect greater than the sum of their separate effects.
Let's learn a little more about the companies:
ITHAX ACQUISITION CORP. (NASDAQ: "ITHX")
It is a special purpose acquisition company (SPAC) formed by Ithaca Capital Partners and the principals of AXIA Ventures Group. It is focused on identifying a mix of businesses within the leisure, hospitality, travel and technology and related services sectors with a specific enterprise value of over $600 million. Geographically, the primary focus is on the United States with a secondary focus on Europe, Asia and Latin America. https://ithaxacquisitioncorp.com
