Mondee Holdings, Inc.: M&A transaction — Mondee acquires Interep, Brazilian B2B luxury travel company, for $8.88M plus earn-out

Mondee Holdings, Inc.

Total consideration $8.88M: $4M cash at close, $720K over 3 years, 416k shares (~$4.16M), plus up to $3M earn-out.
Interep had 2022 adj. EBITDA ~$2.8M; net revenues doubled vs pre-pandemic; 40-yr history, 3,100 affiliates, 80 employees.
Interep focuses on luxury B2B travel in Brazil; expands Mondee's Latin American footprint, complements prior Orinter acquisition.
Sellers are Diana Krepinsky Rodrigues and Cynthia Sherry Ann Krepinsky Rodrigues (all-female ownership team).

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Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Mondee Holdings, Inc. completed an acquisition involving Diana Krepinsky Rodrigues and Cynthia Sherry Ann Krepinsky Rodrigues for $8,880,000 (closed 2023-05-12).

Action: acquisition
Counterparty: Diana Krepinsky Rodrigues and Cynthia Sherry Ann Krepinsky Rodrigues
Consideration: $8,880,000
Closing: 2023-05-12

Exact text from the filing

other transactions contemplated by the Purchase Agreement, the “ Acquisition ”). In exchange for the Target Securities, Buyer agreed to pay Sellers total consideration of (i) $8,880,000, comprised of (a) a cash component equal to $4,000,000, which was paid to Sellers on the Closing Date, (b) an amount of $720,000, payable in thirty-six (36) monthly installments,

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Source: SEC EDGAR

accession 0001828852-23-000059

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