Mondee Announces $85 Million Preferred Equity Financing to Support its Expansion Strategy
The proceeds from the Preferred Financing shall be paid in full without an Original Issuer Discount (OID), and will be puttable to the Company by the investors commencing on the fifth anniversary of the closing date, carrying an initial annual dividend of SOFR plus 7%, payable quarterly, which at the option of the Company can be paid in cash or payment in kind (PIK). The Preferred Stock is a non-dilutive instrument as it is not convertible into common equity. The Preferred Financing also includes the issuance of 1.275 million warrants at an exercise price of
“Having acquired 14 businesses in its 11-year history,
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities of the Company. The securities referenced herein have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in
This press release contains “forward-looking statements” within the meaning of federal securities law. Forward-looking statements can be identified by words such as: “believe,” “can”, “"may,” “expects,” “intends,” “potential,” “plans,” “will” and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding future growth, performance, business prospects and opportunities, future plans and intentions or other future events are forward looking statements. Such forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements.
These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by the Company and its management, are inherently uncertain. The Company cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, the ability to implement business plans, forecasts, and other expectations after the recently completed business combination between
Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made, and the Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement to reflect events or circumstances after the date on which such statement is being made, or to reflect the occurrence of unanticipated events.
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Source: Mondee Holdings, Inc.