Mondee Holdings, Inc.: going-concern / distress — Mondee files Chapter 11, enters RSA with stalking horse credit bid of $191M from TCW/Wingspire

Mondee Holdings, Inc.

Filed Chapter 11 in Delaware; TCW/Wingspire affiliates offer $191M credit bid for substantially all assets as stalking horse.
DIP financing up to $110M ($27.5M new money + $82.5M conversion) subject to Court approval; $6M term loan borrowed Jan 7.
COO Jim Dullum resigned Jan 10; Jesus Portillo serves as CEO and CFO going forward.
RSA milestones: sale consummation within 60 days, plan confirmation within 100 days; common stock likely zero recovery.
Outstanding prepetition debt ~$231M accelerated by filing; operations continue normally for customers and partners.

item 1.01 item 1.03 item 2.03 item 2.04 item 5.02 item 7.01 item 2.02 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Jim Dullum

Chief Operating Officer

Mondee Holdings, Inc.

Effective: 2025-01-10
Filed: January 15, 2025, 6:59 PM ET

On January 10, 2025, Jim Dullum (“ Mr. Dullum ”) resigned as Chief Operating Officer of the Company.

Key facts

Extracted from this filing and checked against the source text.

Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

Mondee Holdings, Inc. entered chapter 11 in United States Bankruptcy Court for the District of Delaware (petition 2024-01-14).

Proceeding: chapter 11
Court: United States Bankruptcy Court for the District of Delaware
Petition: 2024-01-14

Exact text from the filing

the Company and certain of its US subsidiaries, Mondee Holdings II, LLC, Mondee, Inc., Mondee Brazil, LLC, Cosmopolitan Travel Service, Inc., Cosmopolitan Travel Services Inc., C & H Travel & Tours, Inc., SkyLink Travel, Inc., SkyLink Travel, Inc., SkyLink Travel Inc., Skylink Travel SFO Inc., Purple Grids Inc., Trans Am Travel, Inc., TransWorld Travel, Inc., Hari-World Travel Group, Inc., ExploreTrip IP Holdings, Inc., ExploreTrip, Inc., Mondee Acquisition Company, Inc., Rocketrip, Inc., Skypass Travel, Inc., and Skypass Holidays LLC (such subsidiaries together with the Company, the “ Company Parties ”) filed voluntary petitions for relief (the “ Bankruptcy Petitions ”) under Chapter 11 of the United States Bankruptcy Code (the “ Bankruptcy Code ”) in the United States Bankruptcy Court for the District of Delaware (such court, the “ Court ” and such cases, the “ Cases ”).

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Jim Dullum resigned as Chief Operating Officer at Mondee Holdings, Inc..

Action: resigned
Role: Chief Operating Officer

Exact text from the filing

On January 10, 2025, Jim Dullum (“ Mr. Dullum ”) resigned as Chief Operating Officer of the Company.

View on SEC.gov

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Source: SEC EDGAR

accession 0001828852-25-000010

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