Mondee Holdings, Inc.: M&A transaction — Mondee acquires Skypass Travel for ~$15M; strengthens AI-powered travel marketplace

Mondee Holdings, Inc.

Total consideration of ~$15M (cash + Mondee stock at $10/sh) plus earn-out shares tied to adjusted EBITDA growth.
Skypass reported 2022 gross revenue of $45M and adjusted EBITDA of $4M (~60% margin on net revenue).
Acquisition adds global corporate, leisure, and humanitarian travel; expands into India, Mexico, LATAM.
Skypass CEO Victor Abraham and management team join Mondee; expected to drive growth and synergies.
Mondee's network of 65,000+ travel experts and 125M members to distribute Skypass offerings.

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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 Victor Abraham and Sherly Abraham for $3,000,000 on the Closing Date, with an adjustment for working capital, (ii) 900,000 shares of Class A common stock of Mondee, par value $0.0001 per share, on t (closed 2023-08-12).

Action: acquisition
Counterparty: Victor Abraham and Sherly Abraham
Consideration: $3,000,000 on the Closing Date, with an adjustment for working capital, (ii) 900,000 shares of Class A common stock of Mondee, par value $0.0001 per share, on t
Closing: 2023-08-12

Exact text from the filing

Acquisition Company, Inc., a Delaware corporation (" MAC "), and Mondee, Inc., a Delaware corporation (together with Mondee and MAC, the “ Buyers ”), entered into that certain Share Purchase Agreement, dated August 12, 2023 (the “ Purchase Agreement ”), with Victor Abraham and Sherly Abraham (together, the " Sellers "), and Skypass Travel Private Limited, a a private limited company incorporated under the laws of India (" Skypass India ").

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

Mondee Holdings, Inc. entered into Share Purchase Agreement with Victor Abraham and Sherly Abraham valued at $3,000,000 cash plus 900,000 shares of Class A common stock at closing, plus 100,000 shares on each (effective 2023-08-12).

Action: entry
Agreement: asset purchase
Counterparty: Victor Abraham and Sherly Abraham
Value: $3,000,000 cash plus 900,000 shares of Class A common stock at closing, plus 100,000 shares on each
Effective: 2023-08-12

Exact text from the filing

On August 12, 2023 (the “ Closing Date ”), Mondee Holdings, Inc., a Delaware corporation ( “ Mondee ”), and its wholly-owned subsidiaries, Mondee Acquisition Company, Inc., a Delaware corporation (" MAC "), and Mondee, Inc., a Delaware corporation (together with Mondee and MAC, the “ Buyers ”), entered into that certain Share Purchase Agreement, dated August 12, 2023 (the “ Purchase Agreement ”), with Victor Abraham and Sherly Abraham (together, the " Sellers "), and Skypass Travel Private Limited, a a private limited company incorporated under the laws of India (" Skypass India ").

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Source: SEC EDGAR

accession 0001828852-23-000133

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