Travel tech firm Mondee nears $1 bln SPAC deal to go public - WSJ (updated)

MH Wind Down Co

19/12/2021 23:41

(Adds details from the report, context)
    Dec 19 (Reuters) - California-based Mondee Inc is nearing a
deal with a blank-check firm that would value the
travel-technology firm at about $1 billion and take it public,
the Wall Street Journal reported https://www.wsj.com/articles/travel-technology-firm-mondee-nears-1-billion-spac-deal-to-go-public-11639951201?mod=latest_headlines
 on Sunday.
    Mondee will merge with special-purpose acquisition company
(SPAC) ITHAX Acquisition Corp, the report said, citing people
familiar with the matter. A deal could be announced as soon as
Monday.
    The firm would raise a $50 million private investment in
public equity with funds affiliated with Morgan Stanley
Investment Management and other investors as part of its deal,
the report added.
    Mondee did not immediately respond to request for a comment
outside of business hours.
    Since its founding in 2011, it has acquired multiple
platforms in the travel tech space, including Rocketrip and
Cosmopolitan Travel Services. 
    Recently, travel-booking services provider American Express
Global Business Travel (GBT) also announced its plans to go
public via merger with Apollo Strategic Growth Capital  APSG.N 
in a deal valued at around $5.3 billion.  urn:newsml:reuters.com:*:nL4N2SO2TS
    

 (Reporting by Maria Ponnezhath in Bengaluru; Editing by Daniel
Wallis and Sam Holmes)
 ((Maria.Ponnezhath@thomsonreuters.com; +91 8061822749;))