ITHAX Acquisition Corp. (NASDAQ:ITHX) announced this morning it has secured an additional $20 million in funding for a total PIPE size of approximately $70 million to finance its combination with technology-first travel marketplace company Mondee.
At $10.00 per share, this additional all-equity funding is driven by two unnamed financial investors, which increases the aggregate gross proceeds to the combined company from the PIPE transactions from $50 million to $70 million. As a point of reference, this transaction has a minimum cash closing condition of $150 million.
ITHAX brings about $241.5 million into the deal from its current trust supplemented by the now $70 million PIPE. The original $50 million PIPE drew investments from funds affiliated with Morgan Stanley Investment Management, ARCPE, Origami, and strategic investors including Travco and Entertainment Benefits.
The combined company is expected to be traded on the Nasdaq under the ticker symbol “MOND” once the deal is completed in the first half of 2022.
ITHAX announced its $842 million combination with Mondee on December 20. The Silicon Valley-based company delivers an operating platform, modern ecosystem, and segment-specific content for the gig economy, remote workers, and travelers, mostly in the leisure segment of the travel market.


Cayson Acquisition Corp. (NASDAQ:CAPN) has entered into a definitive agreement to combine with boutique investment firm Mango Financial for $300 million in equity consideration. Hong Kong-based Mango provides a range of M&A and equity capital markets advisory services to clients considering listings in China and the US. The combined company is expected to trade on...
Trailblazer (NASDAQ:BLZRU) has filed for a $200 million SPAC to bring a first-time team to market with serial sponsor terms. The new SPAC is offering investors a 1/3 warrant in each unit and it is the first SPAC filed so far this month with 24 months on its initial transaction clock. All other July SPACs...
This week, we speak with Kyivstar CEO Oleksandr Komarov about the company’s $2.2 billion dollar combination with Cohen Circle Acquisition Corp. I (NASDAQ:CCIR). Few companies have been had to forge themselves in the flames recently quite like Ukraine’s leading telecom and digital services provider Kyivstar. Now, Kyivstar is not only telling that story but pitching it to...
At the SPAC of Dawn The market still has one full trading session before it adds Tuesday’s Core CPI reading and a variety of Fed comments to messaging it is already ingesting on US President Donald Trump’s ever-shifting tariff policy. SPACs are meanwhile continuing on with business as usual, with Cayson (NASDAQ:CAPN) announcing the third...
Terms Tracker for the Week Ending July 11, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. One more IPO priced this week bringing July’s total to 8. However, there are still three more weeks left in the month so that number...