|
Delaware
(State or other jurisdiction of
incorporation or organization) |
| |
4700
(Primary Standard Industrial
Classification Code Number) |
| |
88-3292448
(I.R.S. Employer
Identification No.) |
|
|
Large accelerated filer
☐
|
| |
Accelerated filer
☐
|
|
|
Non-accelerated filer
☒
|
| |
Smaller reporting company
☒
|
|
| | | |
Emerging growth company
☒
|
|
| | |
Page
|
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| | | | 139 | | | |
| | | | 156 | | | |
| | | | 163 | | | |
| | | | 165 | | | |
| | | | 165 | | | |
| | | | 166 | | | |
| | | | F-1 | | |
| | |
ITHAX
(Historical) |
| |
Mondee
(Historical) |
| |
Transaction
Accounting Adjustments |
| | | | | | | |
Pro Forma
Combined |
| ||||||||||||
Assets | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents
|
| | | $ | 157 | | | | | $ | 10,932 | | | | | $ | 8,304 | | | | |
|
3(a)
|
| | | | $ | 19,393 | | |
Restricted short-term investments
|
| | | | — | | | | | | 8,476 | | | | | | — | | | | | | | | | | | | 8,476 | | |
Trade accounts receivable
|
| | | | — | | | | | | 20,260 | | | | | | — | | | | | | | | | | | | 20,260 | | |
Contract assets
|
| | | | — | | | | | | 8,110 | | | | | | — | | | | | | | | | | | | 8,110 | | |
Prepaid and other current assets
|
| | | | 35 | | | | | | 12,421 | | | | | | (8,591) | | | | |
|
3(i)
|
| | | | | 3,865 | | |
Total current assets
|
| | | | 192 | | | | | | 60,199 | | | | | | (287) | | | | | | | | | | | | 60,104 | | |
Property and equipment, net
|
| | | | — | | | | | | 10,029 | | | | | | — | | | | | | | | | | | | 10,029 | | |
Investments held in Trust Account
|
| | | | 241,937 | | | | | | — | | | | | | (241,937) | | | | |
|
3(a)(1)
|
| | | | | — | | |
Goodwill
|
| | | | — | | | | | | 66,420 | | | | | | — | | | | | | | | | | | | 66,420 | | |
Intangible assets, net
|
| | | | — | | | | | | 60,539 | | | | | | — | | | | | | | | | | | | 60,539 | | |
Loan receivable from related parties
|
| | | | — | | | | | | 22,310 | | | | | | (22,310) | | | | |
|
3(h)
|
| | | | | — | | |
Operating lease right-of-use-assets
|
| | | | — | | | | | | 2,275 | | | | | | — | | | | | | | | | | | | 2,275 | | |
Other non-current assets
|
| | | | — | | | | | | 1,994 | | | | | | — | | | | | | | | | | | | 1,994 | | |
Total assets
|
| | | $ | 242,129 | | | | | $ | 223,766 | | | | | $ | (264,534) | | | | | | | | | | | $ | 201,361 | | |
Liabilities and stockholders’ (deficit) equity | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Accounts payable
|
| | | $ | — | | | | | $ | 29,740 | | | | | $ | — | | | | | | | | | | | $ | 29,740 | | |
Amounts payable to related parties
|
| | | | — | | | | | | 1,552 | | | | | | — | | | | | | | | | | | | 1,552 | | |
Paycheck Protection Program (PPP) and other government loans, current portion
|
| | | | — | | | | | | 50 | | | | | | — | | | | | | | | | | | | 50 | | |
Accrued expenses and other current liabilities
|
| | | | 682 | | | | | | 21,743 | | | | | | (8,807) | | | | |
|
3(g)
|
| | | | | 13,618 | | |
Deferred revenue
|
| | | | — | | | | | | 6,743 | | | | | | — | | | | | | | | | | | | 6,743 | | |
Long term debt, current portion
|
| | | | — | | | | | | 15,454 | | | | | | (7,713) | | | | |
|
3(l)
|
| | | | | 7,741 | | |
Total current liabilities
|
| | | | 682 | | | | | | 75,282 | | | | | | (16,520) | | | | | | | | | | | | 59,444 | | |
Deferred income taxes
|
| | | | — | | | | | | 604 | | | | | | — | | | | | | | | | | | | 604 | | |
Loan payable to related parties
|
| | | | — | | | | | | 195 | | | | | | — | | | | | | | | | | | | 195 | | |
PPP and other government loans
|
| | | | — | | | | | | 199 | | | | | | — | | | | | | | | | | | | 199 | | |
Long term debt excluding current portion
|
| | | | — | | | | | | 166,097 | | | | | | (39,123) | | | | |
|
3(l)
|
| | | | | 126,974 | | |
Deferred revenue excluding current portion
|
| | | | — | | | | | | 13,138 | | | | | | — | | | | | | | | | | | | 13,138 | | |
Operating lease liabilities
|
| | | | — | | | | | | 1,648 | | | | | | — | | | | | | | | | | | | 1,648 | | |
Other long-term liabilities
|
| | | | — | | | | | | 2,543 | | | | | | — | | | | | | | | | | | | 2,543 | | |
Deferred business combination fees
|
| | | | 7,033 | | | | | | — | | | | | | (7,033) | | | | |
|
3(k)
|
| | | | | — | | |
Warrant liability
|
| | | | 3,600 | | | | | | — | | | | | | (3,502) | | | | |
|
3(e)(2)
|
| | | | | 98 | | |
Deferred underwriting fee
|
| | | | 9,083 | | | | | | — | | | | | | (9,083) | | | | |
|
3(a)(4)
|
| | | | | — | | |
Total liabilities
|
| | | | 20,398 | | | | | | 259,706 | | | | | | (75,261) | | | | | | | | | | | | 204,843 | | |
Common stock subject to possible redemption
|
| | | | 241,937 | | | | | | — | | | | | | (241,937) | | | | |
|
3(b)
|
| | | | | — | | |
ITHAX Class A Ordinary Shares
|
| | | | 1 | | | | | | — | | | | | | (1) | | | | |
|
3(c)
|
| | | | | — | | |
ITHAX Class B Ordinary Shares
|
| | | | 6 | | | | | | — | | | | | | (6) | | | | |
|
3(c)(2)
|
| | | | | — | | |
New Mondee Common Stock
|
| | | | — | | | | | | — | | | | | | 52 | | | | |
|
3(d)
|
| | | | | 52 | | |
Treasury Stock
|
| | | | — | | | | | | — | | | | | | (20,310) | | | | |
|
3(j)
|
| | | | | (20,310) | | |
Additional paid-in capital
|
| | | | — | | | | | | 163,626 | | | | | | 60,576 | | | | |
|
3(e)
|
| | | | | 224,202 | | |
Accumulated other comprehensive income (loss)
|
| | | | — | | | | | | (445) | | | | | | — | | | | | | | | | | | | (445) | | |
Retained earnings (accumulated deficit)
|
| | | | (20,213) | | | | | | (199,121) | | | | | | 12,353 | | | | |
|
3(f)
|
| | | | | (206,981) | | |
Total stockholders’ (deficit) equity
|
| | | | (20,206) | | | | | | (35,940) | | | | | | 52,664 | | | | | | | | | | | | (3,482) | | |
Total liabilities and stockholders’ (deficit) equity
|
| | | $ | 242,129 | | | | | $ | 223,766 | | | | | $ | (264,534) | | | | | | | | | | | $ | 201,361 | | |
| | |
ITHAX
(Historical) |
| |
Mondee
(Historical) |
| |
Transaction
Accounting Adjustments |
| | | | | | | |
Pro Forma
Combined |
| | | | | | | ||||||||||||
Revenue, net
|
| | | $ | — | | | | | $ | 80,303 | | | | | $ | — | | | | | | | | | | | $ | 80,303 | | | | | | | | |
Operating expenses | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
General and administrative expenses
|
| | | | 7,862 | | | | | | 4,465 | | | | | | — | | | | | | | | | | | | 12,327 | | | | | | | | |
Sales and other expenses
|
| | | | — | | | | | | 6,378 | | | | | | — | | | | | | | | | | | | 6,378 | | | | | | | | |
Marketing expenses
|
| | | | — | | | | | | 49,018 | | | | | | — | | | | | | | | | | | | 49,018 | | | | | | | | |
Personnel expenses, including stock based compensation
|
| | | | — | | | | | | 11,324 | | | | | | 944 | | | | |
|
3(m)
|
| | | | | 12,268 | | | | | | | | |
Information technology expenses
|
| | | | — | | | | | | 2,464 | | | | | | — | | | | | | | | | | | | 2,464 | | | | | | | | |
Provision for doubtful accounts receivable and contract assets
|
| | | | — | | | | | | 86 | | | | | | — | | | | | | | | | | | | 86 | | | | | | | | |
Depreciation and amortization
|
| | | | — | | | | | | 5,586 | | | | | | — | | | | | | | | | | | | 5,586 | | | | | | | | |
Total operating expenses
|
| | | | 7,862 | | | | | | 79,321 | | | | | | 944 | | | | | | | | | | | | 88,127 | | | | | | | | |
Loss from operations
|
| | | | (7,862) | | | | | | 982 | | | | | | (944) | | | | | | | | | | | | (7,824) | | | | | | | | |
Interest income
|
| | | | 337 | | | | | | 261 | | | | | | (593) | | | | |
|
3(p)
|
| | | | | 5 | | | | | | | | |
Interest expense
|
| | | | — | | | | | | (12,830) | | | | | | (1,531) | | | | |
|
3(r)
|
| | | | | (14,361) | | | | | | | | |
Gain on extinguishment of PPP loan
|
| | | | — | | | | | | 2,009 | | | | | | — | | | | | | | | | | | | 2,009 | | | | | | | | |
Other income (expense)
|
| | | | 3,103 | | | | | | 764 | | | | | | (299) | | | | |
|
3(o)
|
| | | | | 3,568 | | | | | | | | |
Loss before income taxes
|
| | | | (4,422) | | | | | | (8,814) | | | | | | (3,367) | | | | | | | | | | | | (16,603) | | | | | | | | |
Provision from income taxes
|
| | | | — | | | | | | (290) | | | | | | — | | | | | | | | | | | | (290) | | | | | | | | |
Net income (loss)
|
| | | | (4,422) | | | | | | (9,104) | | | | | | (3,367) | | | | | | | | | | | | (16,893) | | | | | | | | |
Other comprehensive income (loss)
|
| | | | — | | | | | | — | | | | | | — | | | | | | | | | | | | — | | | | | | | | |
Total comprehensive income (loss)
|
| | | $ | (4,422) | | | | | $ | (9,104) | | | | | $ | (3,367) | | | | | | | | | | | $ | (16,893) | | | | | | | | |
Basic and diluted income (loss) per share, Class A Ordinary shares subject to possible redemption
|
| | | $ | (0.14) | | | | | $ | — | | | | | $ | — | | | | | | | | | | | $ | — | | | | | | | | |
Weighted average shares outstanding, Class A Ordinary shares subject to possible redemption
|
| | | | 24,150,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Basic and diluted income (loss) per share, Non-redeemable Ordinary shares
|
| | | $ | (0.14) | | | | | $ | — | | | | | $ | — | | | | | | | | | | | $ | — | | | | | | | | |
Weighted average shares outstanding, Non-redeemable Ordinary shares
|
| | | | 6,712,500 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Basic and diluted income (loss) per share
|
| | | | N/A | | | | | | N/A | | | | | $ | — | | | | | | | | | | | $ | (0.23) | | | | | | | | |
Weighted average shares outstanding, basic and
diluted |
| | | | N/A | | | | | | N/A | | | | | | | | | | | | | | | | | | 73,319,968 | | | | |
|
3(n)
|
| |
| | |
ITHAX
(Historical) |
| |
Mondee
(Historical) |
| |
Transaction
Accounting Adjustments |
| | | | | | | |
Pro Forma
Combined |
| | | | | | | ||||||||||||
Revenue, net
|
| | | $ | — | | | | | $ | 93,194 | | | | | $ | — | | | | | | | | | | | $ | 93,194 | | | | | | | | |
Operating expenses | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
General and administrative expenses
|
| | | | 834 | | | | | | 7,455 | | | | | | — | | | | | | | | | | | | 8,289 | | | | | | | | |
Sales and other expenses
|
| | | | — | | | | | | 11,165 | | | | | | 92 | | | | |
|
3(m)
|
| | | | | 11,257 | | | | | | | | |
Marketing expenses
|
| | | | — | | | | | | 54,611 | | | | | | — | | | | | | | | | | | | 54,611 | | | | | | | | |
Personnel expenses, including stock based compensation
|
| | | | — | | | | | | 23,422 | | | | | | 1,014 | | | | |
|
3(m)
|
| | | | | 24,436 | | | | | | | | |
Information technology expenses
|
| | | | — | | | | | | 4,058 | | | | | | — | | | | | | | | | | | | 4,058 | | | | | | | | |
Provision for doubtful accounts receivable and contract assets
|
| | | | — | | | | | | 1,874 | | | | | | — | | | | | | | | | | | | 1,874 | | | | | | | | |
Depreciation and amortization
|
| | | | — | | | | | | 12,861 | | | | | | — | | | | | | | | | | | | 12,861 | | | | | | | | |
Total operating expenses
|
| | | | 834 | | | | | | 115,446 | | | | | | 1,106 | | | | | | | | | | | | 117,386 | | | | | | | | |
Loss from operations
|
| | | | (834) | | | | | | (22,252) | | | | | | (1,106) | | | | | | | | | | | | (24,192) | | | | | | | | |
Interest income
|
| | | | 100 | | | | | | 505 | | | | | | (607) | | | | |
|
3(p)
|
| | | | | (2) | | | | | | | | |
Interest expense
|
| | | | — | | | | | | (23,683) | | | | | | (2,917) | | | | |
|
3(s)
|
| | | | | (26,600) | | | | | | | | |
Gain on extinguishment of PPP loans
|
| | | | — | | | | | | 5,868 | | | | | | — | | | | | | | | | | | | 5,868 | | | | | | | | |
Other income (expense)
|
| | | | 4,045 | | | | | | 980 | | | | | | (4,283) | | | | |
|
3(q)
|
| | | | | 742 | | | | | | | | |
Income (Loss) before income taxes
|
| | | | 3,311 | | | | | | (38,582) | | | | | | (8,913) | | | | | | | | | | | | (44,184) | | | | | | | | |
Provision from income taxes
|
| | | | — | | | | | | (323) | | | | | | — | | | | | | | | | | | | (323) | | | | | | | | |
Net income (loss)
|
| | | | 3,311 | | | | | | (38,905) | | | | | | (8,913) | | | | | | | | | | | | (44,507) | | | | | | | | |
Other comprehensive loss
|
| | | | — | | | | | | (311) | | | | | | — | | | | | | | | | | | | (311) | | | | | | | | |
Total comprehensive income (loss)
|
| | | $ | 3,311 | | | | | $ | (39,216) | | | | | $ | (8,913) | | | | | | | | | | | $ | (44,818) | | | | | | | | |
Basic and diluted income per share, Class A Ordinary shares subject to possible redemption
|
| | | $ | 0.12 | | | | | $ | — | | | | | $ | — | | | | | | | | | | | $ | — | | | | | | | | |
Weighted average shares outstanding, Class A Ordinary shares subject to possible redemption
|
| | | | 22,098,904 | | | | | | — | | | | | | — | | | | | | | | | | | | — | | | | | | | | |
Basic income per Ordinary share, Class A and Class B Ordinary shares
|
| | | $ | 0.12 | | | | | $ | — | | | | | $ | | | | | | | | | | | $ | | | | | | | | | ||
Weighted average shares outstanding, Class A Ordinary shares
|
| | | | 6,588,288 | | | | | | — | | | | | | — | | | | | | | | | | | | — | | | | | | | | |
Diluted income per Ordinary share, Class A and Class B Ordinary shares
|
| | | $ | 0.12 | | | | | $ | — | | | | | $ | — | | | | | | | | | | | $ | — | | | | | | | | |
Weighted average shares outstanding, Diluted Class A and Class B Ordinary shares
|
| | | | 6,655,171 | | | | | | — | | | | | | — | | | | | | | | | | | | — | | | | | | | | |
Basic and diluted loss per share
|
| | | | N/A | | | | | | N/A | | | | | $ | — | | | | | | | | | | | $ | (0.61) | | | | | | | | |
Weighted average shares outstanding, basic and
diluted |
| | | | N/A | | | | | | N/A | | | | | | — | | | | | | | | | | | | 73,145,568 | | | | |
|
3(n)
|
| |
|
Shares transferred at Closing
|
| | | | 60,800,000 | | |
|
Value per share
|
| | | $ | 10 | | |
|
Total Share Consideration(1)
|
| | | $ | 608,000,000 | | |
| | |
Pro Forma Combined
|
| |||||||||
| | |
Number of
Outstanding Shares |
| |
Percentage of
Outstanding Shares |
| ||||||
Mondee Stockholder(1)
|
| | | | 60,800,000 | | | | | | 80.7% | | |
Initial Shareholders(2)
|
| | | | 6,502,500 | | | | | | 8.6% | | |
Cantor
|
| | | | 210,000 | | | | | | 0.3% | | |
Former ITHAX Class A Public Shareholders
|
| | | | 838,468 | | | | | | 1.1% | | |
PIPE Investors
|
| | | | 7,000,000 | | | | | | 9.3% | | |
Total | | | | | 75,350,968 | | | | | | 100% | | |
| | |
Transaction
Accounting Adjustments |
| |||
ITHAX cash held in Trust Account(1)
|
| | | $ | 241,937 | | |
PIPE Financing(2)
|
| | | | 70,000 | | |
Payment of transaction costs(3)
|
| | | | (19,597) | | |
Payment of deferred underwriting fees(4)
|
| | | | (9,083) | | |
Redemption of ITHAX Public Shareholders(5)
|
| | | | (233,586) | | |
TCW Prepayment(6)
|
| | | | (41,200) | | |
TCW 3rd Party Cost(7)
|
| | | | (167) | | |
Total transaction accounting adjustments
|
| | | $ | 8,304 | | |
| | |
Transaction
Accounting Adjustments |
| |||
Conversion and recapitalization of ITHAX Stock(1)
|
| | | $ | (31) | | |
ITHAX’s Domestication(2)
|
| | | | 6 | | |
Reclassification of ITHAX’s redeemed shares to ITHAX Class A common stock3(b)
|
| | | | 24 | | |
Total transaction accounting adjustments
|
| | | $ | (1) | | |
| | |
Transaction
Accounting Adjustments |
| |||
PIPE Offering3(a)(2)
|
| | | $ | 7 | | |
Conversion and Recapitalization of ITHAX & Mondee Stock(1)
|
| | | | 68 | | |
Redemption of ITHAX Public Shareholder(e)(5)
|
| | | | (23) | | |
Total transaction accounting adjustments
|
| | | $ | 52 | | |
| | |
Transaction
Accounting Adjustments |
| |||
Payment of Mondee and ITHAX transaction costs3(a)(3)
|
| | | $ | (12,348)(4) | | |
Reclassification of ITHAX’s redeemable shares to ITHAX Class A Common Stock3(b)
|
| | | | 241,913 | | |
PIPE Financing3(a)(2)
|
| | | | 69,993 | | |
Elimination of historical ITHAX accumulated deficit(1)
|
| | | | (20,213) | | |
| | |
Transaction
Accounting Adjustments |
| |||
Reclassification of ITHAX Public Warrants(2)
|
| | | $ | 3,502 | | |
Conversion and Recapitalization of ITHAX & Mondee Stock3(c)(1)
|
| | | | (37) | | |
Incentive Units Vesting Upon IPO(3)
|
| | | | 944 | | |
Redemption of ITHAX Public Shareholders(5)
|
| | | | (230,928) | | |
Issuance of Class G Units(6)
|
| | | | 9,750 | | |
Metaminds Purchase Price Consideration(7)
|
| | | | (2,000) | | |
Total transaction accounting adjustments
|
| | | $ | 60,576 | | |
|
| | |
Six Months Ended
June 30, 2022 |
| |
Year Ended
December 31, 2021 |
| ||||||
| | |
Pro Forma Combined
|
| |
Pro Forma Combined
|
| ||||||
Unaudited Pro Forma Net Loss
|
| | | $ | (16,893) | | | | | $ | (44,507) | | |
Basic weighted average shares outstanding
|
| | | | 73,319,968 | | | | | | 73,145,568 | | |
Net loss per share- Basic and Diluted
|
| | | $ | (0.23) | | | | | $ | (0.61) | | |
Basic weighted average shares outstanding | | | | | | | | | | | | | |
Mondee Stockholder
|
| | | | 60,800,000 | | | | | | 60,800,000 | | |
Initial Shareholders
|
| | | | 6,502,500 | | | | | | 6,502,500 | | |
Cantor
|
| | | | 210,000 | | | | | | 210,000 | | |
Former ITHAX Class A Public Shareholders
|
| | | | 838,468 | | | | | | 838,468 | | |
PIPE Investors
|
| | | | 7,000,000 | | | | | | 7,000,000 | | |
Treasury Stock
|
| | | | (2,031,000) | | | | | | (2,205,400) | | |
Total
|
| | | | 73,319,968 | | | | | | 73,145,568 | | |
| | |
Three Months Ended
June 30, |
| |
Six Months Ended
June 30, |
| |
Years Ended
December 31, |
| |||||||||||||||||||||||||||
| | |
2022
|
| |
2021
|
| |
2022
|
| |
2021
|
| |
2021
|
| |
2020
|
| ||||||||||||||||||
| | |
($ in thousands)
|
| |||||||||||||||||||||||||||||||||
Net loss
|
| | | $ | (2,113) | | | | | $ | (13,078) | | | | | $ | (9,104) | | | | | $ | (25,429) | | | | | $ | (38,905) | | | | | $ | (41,734) | | |
Interest expense, (net)
|
| | | | 6,467 | | | | | | 5,685 | | | | | | 12,569 | | | | | | 11,110 | | | | | | 23,178 | | | | | | 19,902 | | |
Stock-based compensation expense
|
| | | | 81 | | | | | | 3,771 | | | | | | 161 | | | | | | 3,771 | | | | | | 3,936 | | | | | | 15 | | |
Depreciation and amortization
|
| | | | 2,769 | | | | | | 3,305 | | | | | | 5,586 | | | | | | 6,520 | | | | | | 12,861 | | | | | | 11,414 | | |
Provision for income taxes
|
| | | | 236 | | | | | | 55 | | | | | | 290 | | | | | | 120 | | | | | | 323 | | | | | | (14,042) | | |
Gain on forgiveness of PPP loans
|
| | | | (2,009) | | | | | | — | | | | | | (2,009) | | | | | | — | | | | | | (5,868) | | | | | | — | | |
Other expense (income), net
|
| | | | (915) | | | | | | 26 | | | | | | (764) | | | | | | 35 | | | | | | (980) | | | | | | 17 | | |
Adjusted EBITDA
|
| | | $ | 4,516 | | | | | $ | (236) | | | | | $ | 6,729 | | | | | $ | (3,873) | | | | | $ | (5,455) | | | | | $ | (24,428) | | |
| | |
Three Months
Ended June 30, |
| |
Six Months
Ended June 30, |
| |
Years Ended
December 31, |
| |||||||||||||||||||||||||||
| | |
2022
|
| |
2021
|
| |
2022
|
| |
2021
|
| |
2021
|
| |
2020
|
| ||||||||||||||||||
| | |
($ in thousands)
|
| |||||||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities
|
| | | $ | (3,254) | | | | | $ | 219 | | | | | $ | 164 | | | | | $ | (1,810) | | | | | $ | (15,673) | | | | | $ | (3,662) | | |
Capital expenditures
|
| | | | (1,754) | | | | | | (902) | | | | | | (3,472) | | | | | | (2,089) | | | | | | (4,022) | | | | | | (4,061) | | |
Cash paid for interest
|
| | | | 90 | | | | | | 51 | | | | | | 94 | | | | | | 102 | | | | | | 6,740 | | | | | | 316 | | |
Unlevered free cash flow
|
| | | $ | (4,915) | | | | | $ | (632) | | | | | $ | (3,214) | | | | | $ | (3,797) | | | | | $ | (12,955) | | | | | $ | (7,407) | | |
| | |
Three Months
Ended June 30, |
| |
Six Months
Ended June 30, |
| |
Years Ended
December 31, |
| |||||||||||||||||||||||||||
| | |
2022
|
| |
2021
|
| |
2022
|
| |
2021
|
| |
2021
|
| |
2020
|
| ||||||||||||||||||
| | |
($ in thousands)
|
| |||||||||||||||||||||||||||||||||
Travel Marketplace
|
| | | $ | 42,397 | | | | | $ | 23,467 | | | | | $ | 79,758 | | | | | $ | 36,617 | | | | | $ | 92,038 | | | | | $ | 65,057 | | |
Subscription Based Platform
|
| | | | 253 | | | | | | 90 | | | | | | 545 | | | | | | 434 | | | | | | 1,156 | | | | | | 739 | | |
Total revenue
|
| | | $ | 42,650 | | | | | $ | 23,557 | | | | | $ | 80,303 | | | | | $ | 37,051 | | | | | $ | 93,194 | | | | | $ | 65,796 | | |
| | |
Three Months
Ended June 30, |
| | | | | | | | | | | | | |
Six Months
Ended June 30, |
| | | | | | | | | | | | | ||||||||||||||||||
| | |
2022
|
| |
2021
|
| |
$ Change
|
| |
% Change
|
| |
2022
|
| |
2021
|
| |
$ Change
|
| |
% Change
|
| ||||||||||||||||||||||||
| | |
($ in thousands)
|
| |||||||||||||||||||||||||||||||||||||||||||||
Revenues, net
|
| | | $ | 42,650 | | | | | $ | 23,557 | | | | | $ | 19,093 | | | | | | 81% | | | | | $ | 80,303 | | | | | $ | 37,051 | | | | | $ | 43,252 | | | | | | 117% | | |
Operating expenses: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||
Marketing expenses
|
| | | | 25,847 | | | | | | 12,833 | | | | | | 13,014 | | | | | | 101% | | | | | | 49,018 | | | | | | 21,075 | | | | | | 27,943 | | | | | | 133% | | |
Sales and other expenses
|
| | | | 3,554 | | | | | | 3,130 | | | | | | 424 | | | | | | 14% | | | | | | 6,378 | | | | | | 4,337 | | | | | | 2,041 | | | | | | 47% | | |
Personnel expense
|
| | | | 5,752 | | | | | | 8,527 | | | | | | (2,775) | | | | | | (33)% | | | | | | 11,324 | | | | | | 12,662 | | | | | | (1,338) | | | | | | (11)% | | |
General and administrative expense
|
| | | | 2,025 | | | | | | 1,228 | | | | | | 797 | | | | | | 65% | | | | | | 4,465 | | | | | | 2,915 | | | | | | 1,550 | | | | | | 53% | | |
Information technology expense
|
| | | | 1,158 | | | | | | 1,088 | | | | | | 70 | | | | | | 6% | | | | | | 2,464 | | | | | | 2,113 | | | | | | 351 | | | | | | 17% | | |
Provision for doubtful accounts receivable and contract assets
|
| | | | (121) | | | | | | 758 | | | | | | (879) | | | | | | (116)% | | | | | | 86 | | | | | | 1,593 | | | | | | (1,507) | | | | | | (95)% | | |
Depreciation and
amortization |
| | | | 2,769 | | | | | | 3,305 | | | | | | (536) | | | | | | (16)% | | | | | | 5,586 | | | | | | 6,520 | | | | | | (934) | | | | | | (14)% | | |
Total Operating Expenses
|
| | | $ | 40,984 | | | | | $ | 30,869 | | | | | $ | 10,115 | | | | | | 33% | | | | | $ | 79,321 | | | | | $ | 51,215 | | | | | $ | 28,106 | | | | | | 55% | | |
Net (loss) Income from operations
|
| | | $ | 1,666 | | | | | $ | (7,312) | | | | | $ | 8,978 | | | | | | (123)% | | | | | $ | 982 | | | | | $ | (14,164) | | | | | $ | 15,146 | | | | | | (107)% | | |
Other income (expense): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||
Interest income
|
| | | | 134 | | | | | | 128 | | | | | | 6 | | | | | | 5% | | | | | | 261 | | | | | | 252 | | | | | | 9 | | | | | | 4% | | |
Interest expense
|
| | | | (6,601) | | | | | | (5,813) | | | | | | (788) | | | | | | 14% | | | | | | (12,830) | | | | | | (11,362) | | | | | | (1,468) | | | | | | 13% | | |
Gain on extinguishment of PPP loan
|
| | | | 2,009 | | | | | | — | | | | | | 2,009 | | | | | | N/A | | | | | | 2,009 | | | | | | — | | | | | | 2,009 | | | | | | N/A | | |
Other (expense) income, net
|
| | | | 915 | | | | | | (26) | | | | | | 941 | | | | | | (3,619)% | | | | | | 764 | | | | | | (35) | | | | | | 799 | | | | | | (2,283)% | | |
Total other expense
|
| | | | (3,543) | | | | | | (5,711) | | | | | | 2,168 | | | | | | (38)% | | | | | | (9,796) | | | | | | (11,145) | | | | | | 1,349 | | | | | | (12)% | | |
Net loss before income
taxes |
| | | | (1,877) | | | | | | (13,023) | | | | | | 11,146 | | | | | | (86)% | | | | | | (8,814) | | | | | | (25,309) | | | | | | 16,495 | | | | | | (65)% | | |
Benefit from (provision for) income taxes
|
| | | | (236) | | | | | | (55) | | | | | | (181) | | | | | | 329% | | | | | | (290) | | | | | | (120) | | | | | | (170) | | | | | | 142% | | |
Net loss
|
| | | $ | (2,113) | | | | | $ | (13,078) | | | | | $ | 10,965 | | | | | | (84)% | | | | | $ | (9,104) | | | | | $ | (25,429) | | | | | $ | 16,325 | | | | | | (64)% | | |
| | |
Three Months
Ended June 30, |
| | | | | | | | | | | | | |
Six Months
Ended June 30, |
| | | | | | | | | | | | | ||||||||||||||||||
| | |
2022
|
| |
2021
|
| |
$ Change
|
| |
% Change
|
| |
2022
|
| |
2021
|
| |
$ Change
|
| |
% Change
|
| ||||||||||||||||||||||||
| | |
($ in thousands)
|
| |||||||||||||||||||||||||||||||||||||||||||||
Revenues, net
|
| | | $ | 42,650 | | | | | $ | 23,557 | | | | | $ | 19,093 | | | | | | 81% | | | | | $ | 80,303 | | | | | $ | 37,051 | | | | | $ | 43,252 | | | | | | 117% | | |
| | |
Three Months Ended
June 30, |
| | | | | | | | | | | | | |
Six Months Ended
June 30, |
| | | ||||||||||||||||||||||||||||
| | |
2022
|
| |
2021
|
| |
$ Change
|
| |
% Change
|
| |
2022
|
| |
2021
|
| |
$ Change
|
| |
% Change
|
| ||||||||||||||||||||||||
| | |
($ in thousands)
|
| |||||||||||||||||||||||||||||||||||||||||||||
Marketing expenses
|
| | | $ | 25,847 | | | | | $ | 12,833 | | | | | $ | 13,014 | | | | | | 101% | | | | | $ | 49,018 | | | | | $ | 21,075 | | | | | $ | 27,943 | | | | | | 133% | | |
Sales and other expenses
|
| | | | 3,554 | | | | | | 3,130 | | | | | | 424 | | | | | | 14% | | | | | | 6,378 | | | | | | 4,337 | | | | | | 2,041 | | | | | | 47% | | |
Personnel expense
|
| | | | 5,752 | | | | | | 8,527 | | | | | | (2,775) | | | | | | (33)% | | | | | | 11,324 | | | | | | 12,662 | | | | | | (1,338) | | | | | | (11)% | | |
General and administrative expense
|
| | | | 2,025 | | | | | | 1,228 | | | | | | 797 | | | | | | 65% | | | | | | 4,465 | | | | | | 2,915 | | | | | | 1,550 | | | | | | 53% | | |
Information technology expense
|
| | | | 1,158 | | | | | | 1,088 | | | | | | 70 | | | | | | 6% | | | | | | 2,464 | | | | | | 2,113 | | | | | | 351 | | | | | | 17% | | |
Provision for doubtful accounts receivable and contract assets
|
| | | | (121) | | | | | | 758 | | | | | | (879) | | | | | | (116)% | | | | | | 86 | | | | | | 1,593 | | | | | | (1,507) | | | | | | (95)% | | |
Depreciation and
amortization |
| | | | 2,769 | | | | | | 3,305 | | | | | | (536) | | | | | | (16)% | | | | | | 5,582 | | | | | | 6,520 | | | | | | (934) | | | | | | (14)% | | |
Interest income
|
| | | | (134) | | | | | | (128) | | | | | | (6) | | | | | | 5% | | | | | | (261) | | | | | | (252) | | | | | | (9) | | | | | | 4% | | |
Interest expense
|
| | | | 6,601 | | | | | | 5,813 | | | | | | 788 | | | | | | 14% | | | | | | 12,830 | | | | | | 11,362 | | | | | | 1,468 | | | | | | 13% | | |
Gain on extinguishment of PPP loan
|
| | | | (2,009) | | | | | | — | | | | | | (2,009) | | | | | | 100% | | | | | | (2,009) | | | | | | — | | | | | | (2,009) | | | | | | 100% | | |
Other (income) expense, net
|
| | | | (915) | | | | | | 26 | | | | | | (941) | | | | | | (3,619)% | | | | | | (764) | | | | | | 35 | | | | | | (799) | | | | | | (2,283)% | | |
| | | | $ | 44,527 | | | | | $ | 36,580 | | | | | $ | 7,947 | | | | | | 22% | | | | | $ | 89,117 | | | | | $ | 62,360 | | | | | $ | 26,757 | | | | | | 43% | | |
| | |
Three Months Ended
June 30, |
| | | | | | | | | | | | | |
Six Months Ended
June 30, |
| | | | | | | | | | | | | ||||||||||||||||||
| | |
2022
|
| |
2021
|
| |
$ Change
|
| |
% Change
|
| |
2022
|
| |
2021
|
| |
$ Change
|
| |
% Change
|
| ||||||||||||||||||||||||
| | |
($ in thousands)
|
| |||||||||||||||||||||||||||||||||||||||||||||
Benefit from (provision for)
income taxes |
| | | | (236) | | | | | | (55) | | | | | | (181) | | | | | | 329% | | | | | | (290) | | | | | | (120) | | | | | | (170) | | | | | | 142% | | |
| | |
For the year ended
December 31, |
| | | | | | | | | | | | | |||||||||
| | |
2021
|
| |
2020
|
| |
$ Change
|
| |
% Change
|
| ||||||||||||
| | |
($ in thousands)
|
| | | | | | | | | | | | | |||||||||
Revenues, net
|
| | | $ | 93,194 | | | | | $ | 65,796 | | | | | $ | 27,398 | | | | | | 42% | | |
Operating expenses: | | | | | | | | | | | | | | | | | | | | | | | | | |
Marketing expenses
|
| | | | 54,611 | | | | | | 39,501 | | | | | | 15,110 | | | | | | 38% | | |
Sales and other expenses
|
| | | | 11,165 | | | | | | 14,434 | | | | | | (3,269) | | | | | | (23)% | | |
Personnel expense
|
| | | | 23,422 | | | | | | 20,658 | | | | | | 2,764 | | | | | | 13% | | |
General and administrative expense
|
| | | | 7,455 | | | | | | 7,736 | | | | | | (281) | | | | | | (4)% | | |
Information technology expense
|
| | | | 4,058 | | | | | | 3,255 | | | | | | 803 | | | | | | 25% | | |
Provision for doubtful accounts receivable and contract
assets |
| | | | 1,874 | | | | | | 4,655 | | | | | | (2,781) | | | | | | (60)% | | |
Depreciation and amortization
|
| | | | 12,861 | | | | | | 11,414 | | | | | | 1,447 | | | | | | 13% | | |
Total Operating Expenses
|
| | | $ | 115,446 | | | | | $ | 101,653 | | | | | $ | 13,793 | | | | | | 14% | | |
Loss from operations
|
| | | $ | (22,252) | | | | | $ | (35,857) | | | | | $ | 13,605 | | | | | | (38)% | | |
Other income (expense): | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest income
|
| | | | 505 | | | | | | 508 | | | | | | (3) | | | | | | (1)% | | |
Interest expense
|
| | | | (23,683) | | | | | | (20,410) | | | | | | (3,273) | | | | | | 16% | | |
Gain on forgiveness of PPP loans
|
| | | | 5,868 | | | | | | — | | | | | | 5,868 | | | | | | N/A | | |
Other (expense) income, net
|
| | | | 980 | | | | | | (17) | | | | | | 997 | | | | | | (5,865)% | | |
Total other expense
|
| | | | (16,330) | | | | | | (19,919) | | | | | | 3,589 | | | | | | (18)% | | |
Net loss before income taxes
|
| | | | (38,582) | | | | | | (55,776) | | | | | | 17,194 | | | | | | (31)% | | |
Benefit from (provision for) income taxes
|
| | | | (323) | | | | | | 14,042 | | | | | | (14,365) | | | | | | (102)% | | |
Net loss
|
| | | $ | (38,905) | | | | | $ | (41,734) | | | | | $ | 2,829 | | | | | | (7)% | | |
| | |
Year Ended
December 31, |
| | | | | | | | | | | | | |||||||||
| | |
2021
|
| |
2020
|
| |
$ Change
|
| |
% Change
|
| ||||||||||||
| | |
($ in thousands)
|
| | | | | | | | | | | | | |||||||||
Revenues, net.
|
| | | $ | 93,194 | | | | | $ | 65,796 | | | | | $ | 27,398 | | | | | | 42% | | |
| | |
For the year ended
December 31, |
| | | | | | | | | | | | | |||||||||
| | |
2021
|
| |
2020
|
| |
$ Change
|
| |
% Change
|
| ||||||||||||
| | |
($ in thousands)
|
| | | | | | | | | | | | | |||||||||
Marketing expenses
|
| | | $ | 54,611 | | | | | $ | 39,501 | | | | | $ | 15,110 | | | | | | 38% | | |
Sales and other expenses
|
| | | | 11,165 | | | | | | 14,434 | | | | | | (3,269) | | | | | | (23)% | | |
Personnel expense
|
| | | | 23,422 | | | | | | 20,658 | | | | | | 2,764 | | | | | | 13% | | |
General and administrative expense
|
| | | | 7,455 | | | | | | 7,736 | | | | | | (281) | | | | | | (4)% | | |
Information technology expense
|
| | | | 4,058 | | | | | | 3,255 | | | | | | 803 | | | | | | 25% | | |
Provision for doubtful accounts receivable and contract
assets |
| | | | 1,874 | | | | | | 4,655 | | | | | | (2,781) | | | | | | (60)% | | |
Depreciation and amortization
|
| | | | 12,861 | | | | | | 11,414 | | | | | | 1,447 | | | | | | 13% | | |
Interest Income
|
| | | | (505) | | | | | | (508) | | | | | | 3 | | | | | | (1)% | | |
Interest expense
|
| | | | 23,683 | | | | | | 20,410 | | | | | | 3,273 | | | | | | 16% | | |
Gain on extinguishment of PPP loans
|
| | | | (5,868) | | | | | | — | | | | | | (5,868) | | | | | | N/A | | |
Other (income) expense, net
|
| | | | (980) | | | | | | 17 | | | | | | (997) | | | | | | (5,865)% | | |
| | | | $ | 131,776 | | | | | $ | 121,572 | | | | | $ | 10,204 | | | | | | 8% | | |
| | |
Year Ended December 31,
|
| | | | | | | | | | | | | |||||||||
| | |
2021
|
| |
2020
|
| |
$ Change
|
| |
% Change
|
| ||||||||||||
| | |
($ in thousands)
|
| | | | | | | | | | | | | |||||||||
Benefit from (provision for) income taxes
|
| | | $ | (323) | | | | | $ | 14,042 | | | | | $ | (14,365) | | | | | | (102)% | | |
| | |
Six Months Ended
June 30, |
| |||||||||
| | |
2022
|
| |
2021
|
| ||||||
| | |
($ in thousands)
|
| |||||||||
Net cash provided by/(used in) Operating activities
|
| | | $ | 164 | | | | | $ | (1,810) | | |
Net cash used in Investing activities
|
| | | | (3,472) | | | | | | (1,809) | | |
Net cash (used in)/provided by Financing activities
|
| | | | (1,094) | | | | | | 3,205 | | |
Effect of exchange rate changes on cash, cash equivalents and restricted
cash |
| | | | (172) | | | | | | (92) | | |
Net (decrease) in cash and cash equivalents
|
| | | $ | (4,574) | | | | | $ | (506) | | |
| | |
Year Ended December 31,
|
| |||||||||
| | |
2021
|
| |
2020
|
| ||||||
| | |
($ in thousands)
|
| |||||||||
Net cash used in Operating activities
|
| | | $ | (15,673) | | | | | $ | (3,662) | | |
Net cash used in Investing activities
|
| | | | (3,112) | | | | | | (37,710) | | |
Net cash provided by Financing activities
|
| | | | 3,077 | | | | | | 61,087 | | |
Effect of exchange rate changes on cash, cash equivalents and restricted cash
|
| | | | (311) | | | | | | 1 | | |
Net (decrease) increase in cash and cash equivalents
|
| | | $ | (16,019) | | | | | $ | 19,716 | | |
(In millions)
|
| |
June 30,
2022 |
| |
December 31,
2021 |
| ||||||
Letters of credit
|
| | | $ | 7.1 | | | | | $ | 7.3 | | |
Name
|
| |
Age*
|
| |
Position
|
|
Executive Officers | | | | | | | |
Prasad Gundumogula | | | 47 | | | Founder, Chief Executive Officer, and Director (Chairman) | |
Orestes Fintiklis | | | 42 | | | Chief Corporate Strategy and Business Development Officer and Director (Vice-Chairman) | |
Dan Figenshu | | | 44 | | | Chief Financial Officer | |
Venkat Pasupuleti | | | 59 | | | Chief Technology Officer | |
Jim Dullum | | | 69 | | | Chief Operating Officer | |
Non-Employee Directors | | | | | | | |
Asi Ginio | | | 49 | | | Director | |
Mona Aboelnaga Kanaan | | | 54 | | | Director | |
Roopa Purushothaman | | | 44 | | | Director | |
Noor Sweid | | | 41 | | | Director | |
Pradeep Udhas | | | 63 | | | Director | |
Name and Principal Position
|
| |
Year
|
| |
Salary
($) |
| |
Bonus
($) |
| |
Stock
Awards ($) |
| |
Option
Awards ($) |
| |
Non-Equity
Deferred Incentive Plan Compensation ($) |
| |
Non-Equity
Deferred Compensation Earnings ($) |
| |
All Other
Compensation ($) |
| |
Total
($) |
| |||||||||||||||||||||||||||
Prasad Gundumogula,
Chief Executive Officer |
| | | | 2021 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 3,743,774(1) | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 3,743,774 | | |
Dan Figenshu,
Chief Financial Officer |
| | | | 2021 | | | | | $ | 280,000 | | | | | $ | 28,000(2) | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 308,000 | | |
Venkat Pasupuleti,
Chief Technology Officer |
| | | | 2021 | | | | | $ | 172,800 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 172,800 | | |
Jim Dullum,
Chief Operating Officer |
| | | | 2021 | | | | | $ | 300,000(3) | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 50,000(4) | | |
Name
|
| |
2021 Base Salary
|
| |||
Prasad Gundumogula, Chief Executive Officer
|
| | | $ | 0 | | |
Dan Figenshu, Chief Financial Officer
|
| | | $ | 280,000 | | |
Venkat Pasupuleti, Chief Technology Officer
|
| | | $ | 172,800 | | |
Jim Dullum, Chief Operating Officer
|
| | | $ | 300,000(1) | | |
| | |
Amount and
Nature of Beneficial Ownership |
| |
Percentage of
Outstanding Shares |
| ||||||
Name and Address of Beneficial Owner | | | | | | | | | | | | | |
Directors and Executive Officers Post-Business Combination(1) | | | | | | | | | | | | | |
Prasad Gundumogula(2)(3)
|
| | | | 67,224,648 | | | | | | 82.6% | | |
Dan Figenshu
|
| | | | 119,600 | | | | | | * | | |
Venkat Pasupuleti
|
| | | | — | | | | | | — | | |
Jim Dullum
|
| | | | 112,000 | | | | | | * | | |
Orestes Fintiklis(4)
|
| | | | 4,201,046 | | | | | | 5.2% | | |
Asi Ginio
|
| | | | * | | | | | | * | | |
Mona Aboelnaga Kanaan(5)
|
| | | | 19,000 | | | | | | * | | |
Roopa Purushothaman
|
| | | | — | | | | | | — | | |
Noor Sweid
|
| | | | — | | | | | | — | | |
Pradeep Udhas
|
| | | | — | | | | | | — | | |
All Executive Officers and Directors as a group (10 individuals)
|
| | | | 71,676,294 | | | | | | 87.6% | | |
Greater than Five Percent Holders | | | | | | | | | | | | | |
FLY OCP LLC(6)
|
| | | | 9,421,778 | | | | | | 11.6% | | |
Entities Affiliated with Morgan Stanley(7)
|
| | | | 9,472,414 | | | | | | 11.6% | | |
Vajid Jafri(8)
|
| | | | 4,743,299 | | | | | | 5.8% | | |
| | |
Shares of Common Stock
|
| |
Warrants
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | |
Beneficially
Owned Prior to Offering |
| |
Number
Registered for Sale Hereby |
| |
Beneficially
Owned After Offering |
| |
Beneficially
Owned Prior to Offering |
| |
Number
Registered for Sale Hereby |
| |
Beneficially
Owned After Offering |
| ||||||||||||||||||||||||||||||||||||||||||
Name
|
| |
Number
|
| |
Percent
|
| |
Number
|
| |
Percent
|
| |
Number
|
| |
Percent
|
| |
Number
|
| |
Percent
|
| ||||||||||||||||||||||||||||||||||||
Abdul Mateen(1)
|
| | | | 568 | | | | | | * | | | | | | 568 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Acharyulu Peesapati(1)
|
| | | | 127,849 | | | | | | * | | | | | | 127,849 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Adam Meron(1)
|
| | | | 17,047 | | | | | | * | | | | | | 17,047 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Adriana Equihua(1)
|
| | | | 568 | | | | | | * | | | | | | 568 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Alexandros Argyros(2)
|
| | | | 147,805 | | | | | | * | | | | | | 147,805 | | | | | | 0 | | | | | | — | | | | | | 5,812 | | | | | | * | | | | | | 5,812 | | | | | | 0 | | | | | | — | | |
Alma Ortiz(1)
|
| | | | 1,705 | | | | | | * | | | | | | 1,705 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
| | |
Shares of Common Stock
|
| |
Warrants
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | |
Beneficially
Owned Prior to Offering |
| |
Number
Registered for Sale Hereby |
| |
Beneficially
Owned After Offering |
| |
Beneficially
Owned Prior to Offering |
| |
Number
Registered for Sale Hereby |
| |
Beneficially
Owned After Offering |
| ||||||||||||||||||||||||||||||||||||||||||
Name
|
| |
Number
|
| |
Percent
|
| |
Number
|
| |
Percent
|
| |
Number
|
| |
Percent
|
| |
Number
|
| |
Percent
|
| ||||||||||||||||||||||||||||||||||||
Andre Salgado(1)
|
| | | | 1,989 | | | | | | * | | | | | | 1,989 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Andrea Christina Bereciartu(1)
|
| | | | 1,705 | | | | | | * | | | | | | 1,705 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Anuj Garg(1)
|
| | | | 568 | | | | | | * | | | | | | 568 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Antonios Achilleoudis(3)
|
| | | | 443,415 | | | | | | * | | | | | | 443,415 | | | | | | 0 | | | | | | — | | | | | | 17,438 | | | | | | * | | | | | | 17,438 | | | | | | 0 | | | | | | — | | |
Anuradha Jadhav(1)
|
| | | | 1,136 | | | | | | * | | | | | | 1,136 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Aravind Neerukattu(1)
|
| | | | 568 | | | | | | * | | | | | | 568 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Arnold Aguas(1)
|
| | | | 142 | | | | | | * | | | | | | 142 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Arpit Bhatt(1)
|
| | | | 2,131 | | | | | | * | | | | | | 2,131 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Ashok Krishnan(1)
|
| | | | 19,888 | | | | | | * | | | | | | 19,888 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Asset Recovery Management(4)
|
| | | | 100,000 | | | | | | * | | | | | | 100,000 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Barbara Villacin(1)
|
| | | | 568 | | | | | | * | | | | | | 568 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Bhanu Prakash Thogunoori(1)
|
| | | | 2,841 | | | | | | * | | | | | | 2,841 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Bhanukiran Bodapati(1)
|
| | | | 568 | | | | | | * | | | | | | 568 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Bharath Venkatesh(1)
|
| | | | 1,421 | | | | | | * | | | | | | 1,421 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Bindiya Puri(1)
|
| | | | 796 | | | | | | * | | | | | | 796 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Bobcat Private Holdings, LLC(5)
|
| | | | 2,000,000 | | | | | | 2.5% | | | | | | 2,000,000 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Borra Naga Vamsi Krishna
|
| | | | 14,205 | | | | | | * | | | | | | 14,205 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Bridge Bank(1)
|
| | | | 208,322 | | | | | | * | | | | | | 208,322 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Cecille Venoza(1)
|
| | | | 284 | | | | | | * | | | | | | 284 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Celier Investments Inc.(6)
|
| | | | 50,000 | | | | | | * | | | | | | 50,000 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Charlyne Cumine(1)
|
| | | | 2,088 | | | | | | * | | | | | | 2,088 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Chennuri Sanga Reddy(1)
|
| | | | 568 | | | | | | * | | | | | | 568 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Chillara Prasad(1)
|
| | | | 14,205 | | | | | | * | | | | | | 14,205 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Chinniah Deendayalu(1)
|
| | | | 568 | | | | | | * | | | | | | 568 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Chinniah Kesavalu(1)
|
| | | | 2,273 | | | | | | * | | | | | | 2,273 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Cho Tai(1)
|
| | | | 56,822 | | | | | | * | | | | | | 56,822 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Cindy Wong(1)
|
| | | | 852 | | | | | | * | | | | | | 852 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Clement Bason(1)
|
| | | | 77,628 | | | | | | * | | | | | | 77,628 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Colby Trading Ltd(7)
|
| | | | 50,000 | | | | | | * | | | | | | 50,000 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Dale Okuno(1)
|
| | | | 1,376,826 | | | | | | 1.7% | | | | | | 1,376,826 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Dan Figenshu(8)
|
| | | | 119,600 | | | | | | * | | | | | | 119,600 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Daniel Ostersehlte(9)
|
| | | | 75,000 | | | | | | * | | | | | | 75,000 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Deekshith Elisetty(1)
|
| | | | 1,421 | | | | | | * | | | | | | 1,421 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Deric James(1)
|
| | | | 284 | | | | | | * | | | | | | 284 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
DH Deutsch Holdings
Limited(10) |
| | | | 400,000 | | | | | | * | | | | | | 400,000 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Dhagu Ashwanth Reddy(1)
|
| | | | 568 | | | | | | * | | | | | | 568 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Dimitrios Athansopoulos(11)
|
| | | | 453,415 | | | | | | * | | | | | | 453,415 | | | | | | 0 | | | | | | — | | | | | | 17,437 | | | | | | * | | | | | | 17,437 | | | | | | 0 | | | | | | — | | |
Durga Kiran Nakka(1)
|
| | | | 284 | | | | | | * | | | | | | 284 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Durval Duprat(1)
|
| | | | 14,205 | | | | | | * | | | | | | 14,205 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
| | |
Shares of Common Stock
|
| |
Warrants
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | |
Beneficially
Owned Prior to Offering |
| |
Number
Registered for Sale Hereby |
| |
Beneficially
Owned After Offering |
| |
Beneficially
Owned Prior to Offering |
| |
Number
Registered for Sale Hereby |
| |
Beneficially
Owned After Offering |
| ||||||||||||||||||||||||||||||||||||||||||
Name
|
| |
Number
|
| |
Percent
|
| |
Number
|
| |
Percent
|
| |
Number
|
| |
Percent
|
| |
Number
|
| |
Percent
|
| ||||||||||||||||||||||||||||||||||||
Edwin Alvarado(1)
|
| | | | 1,591 | | | | | | * | | | | | | 1,591 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Elias Melhem(1)
|
| | | | 454,660 | | | | | | * | | | | | | 454,660 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Eman Alqeram(1)
|
| | | | 227 | | | | | | * | | | | | | 227 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Entertainment Benefits Group, LLC(12)
|
| | | | 150,000 | | | | | | * | | | | | | 150,000 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Entities Affiliated with
Cantor Fitzgerald L.P.(13) |
| | | | 510,000 | | | | | | * | | | | | | 510,000 | | | | | | 0 | | | | | | — | | | | | | 105,000 | | | | | | * | | | | | | 105,000 | | | | | | 0 | | | | | | — | | |
Entities Affiliated with Morgan Stanley(14)
|
| | | | 7,472,414 | | | | | | 11.6% | | | | | | 7,472,414 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Entities Affiliated with Steve Chaby 1 LLC(15)
|
| | | | 1,457,342 | | | | | | * | | | | | | 1,457,342 | | | | | | 0 | | | | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | * | | |
Entities Affiliated with TCW(16)
|
| | | | 1,494,191 | | | | | | 1.8% | | | | | | 1,494,191 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Fly OCP LLC(17)
|
| | | | 9,421,778 | | | | | | 11.6% | | | | | | 9,421,778 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Evgenia Tzannini(18)
|
| | | | 20,000 | | | | | | * | | | | | | 20,000 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
George Chryssikos(19)
|
| | | | 20,000 | | | | | | * | | | | | | 20,000 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Georgia Tsakos(1)
|
| | | | 454,660 | | | | | | * | | | | | | 454,660 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Georgios Linastas(20)
|
| | | | 443,415 | | | | | | * | | | | | | 443,415 | | | | | | 0 | | | | | | — | | | | | | 17,438 | | | | | | * | | | | | | 17,438 | | | | | | 0 | | | | | | — | | |
Gowri Sankar Suserla(1)
|
| | | | 2,273 | | | | | | * | | | | | | 2,273 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Gowri Yeduka(1)
|
| | | | 284 | | | | | | * | | | | | | 284 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Grace Ma(1)
|
| | | | 568 | | | | | | * | | | | | | 568 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
GV 2017, L.P.(21)
|
| | | | 18,310 | | | | | | * | | | | | | 18,310 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Hatshavardhan Hulsurkar(1)
|
| | | | 852 | | | | | | * | | | | | | 852 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Hasan Mahmud(1)
|
| | | | 227 | | | | | | * | | | | | | 227 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Hee S Park(1)
|
| | | | 1,023 | | | | | | * | | | | | | 1,023 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Hiranyandra Kumar Godugu(1)
|
| | | | 17,047 | | | | | | * | | | | | | 17,047 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
ITHAX Acquisition Sponsor CY Ltd(22)
|
| | | | 260,000 | | | | | | * | | | | | | 260,000 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | | | |
Jagadeesh Chinthapally(1)
|
| | | | 284 | | | | | | * | | | | | | 284 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Jagmit Soni(1)
|
| | | | 11,364 | | | | | | * | | | | | | 11,364 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Jalendar Pottabathula(1)
|
| | | | 284 | | | | | | * | | | | | | 284 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Jaspal Kaur(1)
|
| | | | 11,364 | | | | | | * | | | | | | 11,364 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Jasvinder Binning(1)
|
| | | | 9,944 | | | | | | * | | | | | | 9,944 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Jeff Snetiker(1)
|
| | | | 45,849 | | | | | | * | | | | | | 45,849 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Jermias D(1)
|
| | | | 284 | | | | | | * | | | | | | 284 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Jianmei Chen(1)
|
| | | | 1,136 | | | | | | * | | | | | | 1,136 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Jim Dullum(23)
|
| | | | 112,000 | | | | | | * | | | | | | 112,000 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Jing Zhao(1)
|
| | | | 1,136 | | | | | | * | | | | | | 1,136 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Jitendra Kumar Parida(1)
|
| | | | 1,421 | | | | | | * | | | | | | 1,421 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Joe Selsavage(1)
|
| | | | 2,046 | | | | | | * | | | | | | 2,046 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Juliette Li Qiu(1)
|
| | | | 1,421 | | | | | | * | | | | | | 1,421 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
KV Prasad(1)
|
| | | | 1,421 | | | | | | * | | | | | | 1,421 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
| | |
Shares of Common Stock
|
| |
Warrants
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | |
Beneficially
Owned Prior to Offering |
| |
Number
Registered for Sale Hereby |
| |
Beneficially
Owned After Offering |
| |
Beneficially
Owned Prior to Offering |
| |
Number
Registered for Sale Hereby |
| |
Beneficially
Owned After Offering |
| ||||||||||||||||||||||||||||||||||||||||||
Name
|
| |
Number
|
| |
Percent
|
| |
Number
|
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Percent
|
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Number
|
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Percent
|
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|
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|
| ||||||||||||||||||||||||||||||||||||
Kannan Mapara(1)
|
| | | | 1,023 | | | | | | * | | | | | | 1,023 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Kariba LLC(24)
|
| | | | 1,225 | | | | | | * | | | | | | 1,225 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Kate Leung(1)
|
| | | | 639 | | | | | | * | | | | | | 639 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Kent Karpawich(25)
|
| | | | 100,000 | | | | | | * | | | | | | 100,000 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Keshaba Kumar Gantayat(1)
|
| | | | 2,273 | | | | | | * | | | | | | 2,273 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Kiran Kumar S(1)
|
| | | | 568 | | | | | | * | | | | | | 568 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Kiranbabu Sabbani(1)
|
| | | | 284 | | | | | | * | | | | | | 284 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Kishore Rasala(1)
|
| | | | 2,131 | | | | | | * | | | | | | 2,131 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Konstantinos Karamanis(26)
|
| | | | 50,000 | | | | | | * | | | | | | 50,000 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | | | |
Koser T Masalawala(1)
|
| | | | 1,421 | | | | | | * | | | | | | 1,421 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Krishna Babu Addala(1)
|
| | | | 1,421 | | | | | | * | | | | | | 1,421 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Lakshmi Prashanth Bonam(1)
|
| | | | 284 | | | | | | * | | | | | | 284 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Lakshmi Vara Prasad Yerramsetty(1)
|
| | | | 11,364 | | | | | | * | | | | | | 11,364 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Lali Kumar(1)
|
| | | | 28,411 | | | | | | * | | | | | | 28,411 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Larry Leung(1)
|
| | | | 6,819 | | | | | | * | | | | | | 6,819 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
LBF Travel Management Corp(1)
|
| | | | 1,512,868 | | | | | | 1.9% | | | | | | 1,512,868 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Lisa Chan(1)
|
| | | | 1,350 | | | | | | * | | | | | | 1,350 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Madhu Babu Ravi(1)
|
| | | | 1,421 | | | | | | * | | | | | | 1,421 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Madhuri Pasam(1)
|
| | | | 582,425 | | | | | | * | | | | | | 582,425 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Malathi Booreddy(1)
|
| | | | 1,136 | | | | | | * | | | | | | 1,136 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Malick Diouf(1)
|
| | | | 2,841 | | | | | | * | | | | | | 2,841 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Maria Cecilia Belista(1)
|
| | | | 2,841 | | | | | | * | | | | | | 2,841 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Merica Quan(1)
|
| | | | 1,421 | | | | | | * | | | | | | 1,421 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Michelle Yang(1)
|
| | | | 1,989 | | | | | | * | | | | | | 1,989 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Micki Adams(1)
|
| | | | 1,591 | | | | | | * | | | | | | 1,591 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Mike Melhem(1)
|
| | | | 454,660 | | | | | | * | | | | | | 454,660 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Mike Melhem, Jr.(1)
|
| | | | 454,660 | | | | | | * | | | | | | 454,660 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Minchielyn Castro(1)
|
| | | | 568 | | | | | | * | | | | | | 568 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Mohammed Ghouse Sheriff Khaleel(1)
|
| | | | 14,205 | | | | | | * | | | | | | 14,205 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Mohana Venkata Satish Babu Chode(1)
|
| | | | 39,775 | | | | | | * | | | | | | 39,775 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Mondee Group LLC(27)
|
| | | | 21,681,435 | | | | | | 26.9% | | | | | | 21,681,435 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Mondee Holdings, LLC(28)
|
| | | | 60,800,000 | | | | | | 75.4% | | | | | | 60,800,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Mondee, Inc.(29)
|
| | | | 2,033,578 | | | | | | 2.5% | | | | | | 2,033,578 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Monika Mioduszewski(1)
|
| | | | 12,217 | | | | | | * | | | | | | 12,217 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Motaleb Khan(1)
|
| | | | 852 | | | | | | * | | | | | | 852 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Mridula Pasam(1)
|
| | | | 71,027 | | | | | | * | | | | | | 71,027 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Mukesh Pandey(1)
|
| | | | 284 | | | | | | * | | | | | | 284 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Murali Krishna Garapati(1)
|
| | | | 568 | | | | | | * | | | | | | 568 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
| | |
Shares of Common Stock
|
| |
Warrants
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | |
Beneficially
Owned Prior to Offering |
| |
Number
Registered for Sale Hereby |
| |
Beneficially
Owned After Offering |
| |
Beneficially
Owned Prior to Offering |
| |
Number
Registered for Sale Hereby |
| |
Beneficially
Owned After Offering |
| ||||||||||||||||||||||||||||||||||||||||||
Name
|
| |
Number
|
| |
Percent
|
| |
Number
|
| |
Percent
|
| |
Number
|
| |
Percent
|
| |
Number
|
| |
Percent
|
| ||||||||||||||||||||||||||||||||||||
Nadeem Ahmed(1)
|
| | | | 3,296 | | | | | | * | | | | | | 3,296 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Nadira Kermani(1)
|
| | | | 284 | | | | | | * | | | | | | 284 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Naresh Kumar Patnam(1)
|
| | | | 284 | | | | | | * | | | | | | 284 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Nigel Kneafsey(30)
|
| | | | 150,000 | | | | | | * | | | | | | 150,000 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Niranjan Prasad Boyapati(1)
|
| | | | 22,729 | | | | | | * | | | | | | 22,729 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Nirav Ghunchala(1)
|
| | | | 1,051 | | | | | | * | | | | | | 1,051 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Orestes Fintiklis(31)
|
| | | | 4,201,046 | | | | | | 5.2% | | | | | | 4,201,046 | | | | | | 0 | | | | | | — | | | | | | 174,375 | | | | | | * | | | | | | 174,375 | | | | | | 0 | | | | | | — | | |
Pandiyan Kulasekhara(1)
|
| | | | 1,421 | | | | | | * | | | | | | 1,421 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Papaduck Investments Ltd(32)
|
| | | | 500,000 | | | | | | * | | | | | | 500,000 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Parbattie Ulla(1)
|
| | | | 284 | | | | | | * | | | | | | 284 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Parvez Kamal(1)
|
| | | | 8,523 | | | | | | * | | | | | | 8,523 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Patsy Ho(1)
|
| | | | 43,373 | | | | | | * | | | | | | 43,373 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Paul Pessutti(1)
|
| | | | 2,046 | | | | | | * | | | | | | 2,046 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Paula Ryan(1)
|
| | | | 923 | | | | | | * | | | | | | 923 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Pavan Kumar Theeti(1)
|
| | | | 568 | | | | | | * | | | | | | 568 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Pete Chhabra(1)
|
| | | | 1,989 | | | | | | * | | | | | | 1,989 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Peter Mertz(1)
|
| | | | 11,364 | | | | | | * | | | | | | 11,364 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Ponnam Ramesh(1)
|
| | | | 1,421 | | | | | | * | | | | | | 1,421 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Prasad Chary Padakanti(1)
|
| | | | 568 | | | | | | * | | | | | | 568 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Prasad Gundumogula(33)
|
| | | | 67,224,648 | | | | | | 82.5% | | | | | | 67,000,000 | | | | | | 224,648 | | | | | | * | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Pratima B(1)
|
| | | | 284 | | | | | | * | | | | | | 284 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Praveen Kumar Koilakonda(1)
|
| | | | 2,841 | | | | | | * | | | | | | 2,841 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Prem Cohly(1)
|
| | | | 34,698 | | | | | | * | | | | | | 34,698 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Prudhvi Prabhakar Jonnala(1)
|
| | | | 5,682 | | | | | | * | | | | | | 5,682 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Pugazhenthi Sivaji(1)
|
| | | | 7,103 | | | | | | * | | | | | | 7,103 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Purnima Namuduri(1)
|
| | | | 2,273 | | | | | | * | | | | | | 2,273 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Rachel Tan(1)
|
| | | | 568 | | | | | | * | | | | | | 568 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Radha Krishna Bhuvan Raj Kumar
Tummala(1) |
| | | | 28,411 | | | | | | * | | | | | | 28,411 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Radhika Kalashakam(1)
|
| | | | 2,841 | | | | | | * | | | | | | 2,841 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Raja Venkatesh(1)
|
| | | | 655,250 | | | | | | * | | | | | | 655,250 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Rajesh Anugonda(1)
|
| | | | 1,136 | | | | | | * | | | | | | 1,136 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Raju Gajam(1)
|
| | | | 5,682 | | | | | | * | | | | | | 5,682 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Rakesh Gogikar(1)
|
| | | | 568 | | | | | | * | | | | | | 568 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Ram Shah(1)
|
| | | | 2,841 | | | | | | * | | | | | | 2,841 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Rama Chawla(1)
|
| | | | 8,523 | | | | | | * | | | | | | 8,523 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Ramanathan Lakshmanan(1)
|
| | | | 5,682 | | | | | | * | | | | | | 5,682 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Ramesh Punwani(1)
|
| | | | 106,930 | | | | | | * | | | | | | 106,930 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Ramya Devi Narukula(1)
|
| | | | 568 | | | | | | * | | | | | | 568 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Rana Rafiq(1)
|
| | | | 796 | | | | | | * | | | | | | 796 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
| | |
Shares of Common Stock
|
| |
Warrants
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | |
Beneficially
Owned Prior to Offering |
| |
Number
Registered for Sale Hereby |
| |
Beneficially
Owned After Offering |
| |
Beneficially
Owned Prior to Offering |
| |
Number
Registered for Sale Hereby |
| |
Beneficially
Owned After Offering |
| ||||||||||||||||||||||||||||||||||||||||||
Name
|
| |
Number
|
| |
Percent
|
| |
Number
|
| |
Percent
|
| |
Number
|
| |
Percent
|
| |
Number
|
| |
Percent
|
| ||||||||||||||||||||||||||||||||||||
Ranjeet Bhaskar(1)
|
| | | | 284 | | | | | | * | | | | | | 284 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Raymond Chow(1)
|
| | | | 3,296 | | | | | | * | | | | | | 3,296 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Reena Sarna(1)
|
| | | | 606,213 | | | | | | * | | | | | | 606,213 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Rufo Calvo(1)
|
| | | | 2,557 | | | | | | * | | | | | | 2,557 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Rupa Ujjina(1)
|
| | | | 42,616 | | | | | | * | | | | | | 42,616 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Ryan Hetherington(34)
|
| | | | 25,000 | | | | | | * | | | | | | 25,000 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
S. Anji Reddy Gujavarthi(1)
|
| | | | 7,387 | | | | | | * | | | | | | 7,387 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Sai Charan Tirunahari(1)
|
| | | | 284 | | | | | | * | | | | | | 284 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Sai Kumar Billa(1)
|
| | | | 2,841 | | | | | | * | | | | | | 2,841 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Sajja Hemupatham(1)
|
| | | | 284 | | | | | | * | | | | | | 284 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Sandeep Mamgain(1)
|
| | | | 9,944 | | | | | | * | | | | | | 9,944 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Sandhya Appecherla(1)
|
| | | | 568 | | | | | | * | | | | | | 568 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Sanjay Kopalkar(1)
|
| | | | 9,234 | | | | | | * | | | | | | 9,234 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Santosh Kumar Patro(1)
|
| | | | 2,841 | | | | | | * | | | | | | 2,841 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Santosh Kumar V(1)
|
| | | | 568 | | | | | | * | | | | | | 568 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Sarada Mallapareddy(1)
|
| | | | 568 | | | | | | * | | | | | | 568 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Sarvani Kalidindi(1)
|
| | | | 1,065 | | | | | | * | | | | | | 1,065 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Sasidhar Karri(1)
|
| | | | 28,411 | | | | | | * | | | | | | 28,411 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Satish Babu G(1)
|
| | | | 1,136 | | | | | | * | | | | | | 1,136 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Satish Nandi(1)
|
| | | | 1,989 | | | | | | * | | | | | | 1,989 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Seema Fatima(1)
|
| | | | 22,729 | | | | | | * | | | | | | 22,729 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Serena Yeh(1)
|
| | | | 852 | | | | | | * | | | | | | 852 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Shahnaz Pithawala(1)
|
| | | | 3,551 | | | | | | * | | | | | | 3,551 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Shailaja Gurram(1)
|
| | | | 42,616 | | | | | | * | | | | | | 42,616 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Sharadha Nanavath(1)
|
| | | | 1,421 | | | | | | * | | | | | | 1,421 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Shreepal Kandarp Shah(1)
|
| | | | 11,364 | | | | | | * | | | | | | 11,364 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Shu-Hui Chen Chang(1)
|
| | | | 1,421 | | | | | | * | | | | | | 1,421 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Siu Benett(1)
|
| | | | 568 | | | | | | * | | | | | | 568 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Siva Petluru(1)
|
| | | | 1,136 | | | | | | * | | | | | | 1,136 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Soujanya Basina(1)
|
| | | | 284 | | | | | | * | | | | | | 284 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Sravani Pasam(1)
|
| | | | 1,065 | | | | | | * | | | | | | 1,065 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Sridhar Battala(1)
|
| | | | 1,421 | | | | | | * | | | | | | 1,421 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Sriramachandra Rao Tallapragada(1)
|
| | | | 11,364 | | | | | | * | | | | | | 11,364 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Subbarao Mutyala(1)
|
| | | | 2,841 | | | | | | * | | | | | | 2,841 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Sudha Vaddi(1)
|
| | | | 11,364 | | | | | | * | | | | | | 11,364 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Sudaharani Bhadmidipati(1)
|
| | | | 2,841 | | | | | | * | | | | | | 2,841 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Sudhir Puppala(1)
|
| | | | 1,065 | | | | | | * | | | | | | 1,065 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Sukhvinder Dhami(1)
|
| | | | 710 | | | | | | * | | | | | | 710 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Sunil Bharadwaj(1)
|
| | | | 1,421 | | | | | | * | | | | | | 1,421 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
| | |
Shares of Common Stock
|
| |
Warrants
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | |
Beneficially
Owned Prior to Offering |
| |
Number
Registered for Sale Hereby |
| |
Beneficially
Owned After Offering |
| |
Beneficially
Owned Prior to Offering |
| |
Number
Registered for Sale Hereby |
| |
Beneficially
Owned After Offering |
| ||||||||||||||||||||||||||||||||||||||||||
Name
|
| |
Number
|
| |
Percent
|
| |
Number
|
| |
Percent
|
| |
Number
|
| |
Percent
|
| |
Number
|
| |
Percent
|
| ||||||||||||||||||||||||||||||||||||
Sunthar Tharmalingam(1)
|
| | | | 6,392 | | | | | | * | | | | | | 6,392 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Surendar Rawat(1)
|
| | | | 568 | | | | | | * | | | | | | 568 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Suresh Gonepudi(1)
|
| | | | 5,682 | | | | | | * | | | | | | 5,682 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Suresh Jalagam(1)
|
| | | | 284 | | | | | | * | | | | | | 284 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Suresh Rahmanjeri(1)
|
| | | | 284 | | | | | | * | | | | | | 284 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Surya Manikanta Krishna Rahul Kumar Lankalapalli(1)
|
| | | | 5,682 | | | | | | * | | | | | | 5,682 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Surya Teja Lankalapalli(1)
|
| | | | 28,411 | | | | | | * | | | | | | 28,411 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Syed John Raza Rizvi(1)
|
| | | | 1,080 | | | | | | * | | | | | | 1,080 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Tak Yin Wong(1)
|
| | | | 1,136 | | | | | | * | | | | | | 1,136 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Tapan Mahmud(1)
|
| | | | 3,296 | | | | | | * | | | | | | 3,296 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
The Whole Year Inn, LLC(35)
|
| | | | 392,137 | | | | | | * | | | | | | 392,137 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Thomas Jay(1)
|
| | | | 2,841 | | | | | | * | | | | | | 2,841 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Thomas, Michael(1)
|
| | | | 168 | | | | | | * | | | | | | 168 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Thrace Wind Investments
IKE(36) |
| | | | 50,000 | | | | | | * | | | | | | 50,000 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Tim Turner(1)
|
| | | | 932,117 | | | | | | 1.1% | | | | | | 932,117 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Trish Mendoza(1)
|
| | | | 34,093 | | | | | | * | | | | | | 34,093 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
TRUEMAGIC TRADING LIMITED(37)
|
| | | | 100,000 | | | | | | * | | | | | | 100,000 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Ursula Williams(1)
|
| | | | 8,523 | | | | | | * | | | | | | 8,523 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Vajid Jafri(38)
|
| | | | 4,743,299 | | | | | | 5.8% | | | | | | 4,743,299 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Varaprasad Katta(1)
|
| | | | 284 | | | | | | * | | | | | | 284 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Vedavathi Kakinada Vara Lakshmi(1)
|
| | | | 1,421 | | | | | | * | | | | | | 1,421 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Veerendra Munagalavadla(1)
|
| | | | 2,841 | | | | | | * | | | | | | 2,841 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Venkat Pasupuleti(1)
|
| | | | 127,849 | | | | | | * | | | | | | 127,849 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Venkata Naidu Mutyala(1)
|
| | | | 2,841 | | | | | | * | | | | | | 2,841 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Venkata Narender Kumar Kondavaty(1)
|
| | | | 17,047 | | | | | | * | | | | | | 17,047 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Venkata Ramana Prasad Kusampudi(1)
|
| | | | 2,841 | | | | | | * | | | | | | 2,841 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Venkata Rohith Siripuriam(1)
|
| | | | 568 | | | | | | * | | | | | | 568 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Venkateswara Rao Akkireddi(1)
|
| | | | 17,047 | | | | | | * | | | | | | 17,047 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Vetrivel Thigarajan(1)
|
| | | | 2,841 | | | | | | * | | | | | | 2,841 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Vijay Kumar Bodakunti(1)
|
| | | | 2,841 | | | | | | * | | | | | | 2,841 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Vikas Kochhar(1)
|
| | | | 5,682 | | | | | | * | | | | | | 5,682 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Vikas Prabhakar(1)
|
| | | | 11,364 | | | | | | * | | | | | | 11,364 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Vinod Manchhani(1)
|
| | | | 14,205 | | | | | | * | | | | | | 14,205 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Vivek Mishra(1)
|
| | | | 1,705 | | | | | | * | | | | | | 1,705 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Wai Yoke Yoong(1)
|
| | | | 284 | | | | | | * | | | | | | 284 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
| | |
Shares of Common Stock
|
| |
Warrants
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | |
Beneficially
Owned Prior to Offering |
| |
Number
Registered for Sale Hereby |
| |
Beneficially
Owned After Offering |
| |
Beneficially
Owned Prior to Offering |
| |
Number
Registered for Sale Hereby |
| |
Beneficially
Owned After Offering |
| ||||||||||||||||||||||||||||||||||||||||||
Name
|
| |
Number
|
| |
Percent
|
| |
Number
|
| |
Percent
|
| |
Number
|
| |
Percent
|
| |
Number
|
| |
Percent
|
| ||||||||||||||||||||||||||||||||||||
William Gomes(1)
|
| | | | 65,345 | | | | | | * | | | | | | 65,345 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Yossi Ben-Arouch(1)
|
| | | | 284 | | | | | | * | | | | | | 284 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Yuvraj Datta(1)
|
| | | | 170,465 | | | | | | * | | | | | | 170,466 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Zahari Alkobi(1)
|
| | | | 2,841 | | | | | | * | | | | | | 2,841 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
Zarina Khan(1)
|
| | | | 2,841 | | | | | | * | | | | | | 2,841 | | | | | | 0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | — | | |
| | |
Page
|
| |||
Condensed Consolidated Financial Statements of Mondee Holdings, Inc. (f/k/a ITHAX Acquisition Corp.)
|
| | | | | | |
| | | | F-2 | | | |
| | | | F-3 | | | |
| | | | F-4 | | | |
| | | | F-5 | | | |
| | | | F-6 | | | |
Audited Consolidated Financial Statements of ITHAX Acquisition Corp. | | | | | | | |
| | | | F-24 | | | |
| | | | F-25 | | | |
| | | | F-26 | | | |
| | | | F-27 | | | |
| | | | F-28 | | | |
| | | | F-29 | | | |
Condensed Consolidated Financial Statements of Mondee Holdings II, Inc. and Subsidiaries | | | | | | | |
| | | | F-47 | | | |
| | | | F-48 | | | |
| | | | F-49 | | | |
| | | | F-50 | | | |
| | | | F-52 | | | |
| | | | F-53 | | | |
Audited Consolidated Financial Statements of Mondee Holdings II, Inc. | | | | | | | |
| | | | F-69 | | | |
| | | | F-70 | | | |
| | | | F-71 | | | |
| | | | F-72 | | | |
| | | | F-73 | | | |
| | | | F-74 | | | |
| | | | F-75 | | |
| | |
June 30, 2022
|
| |
December 31, 2021
|
| ||||||
| | |
(Unaudited)
|
| | | | | | | |||
ASSETS | | | | | | | | | | | | | |
Current assets
|
| | | | | | | | | | | | |
Cash
|
| | | $ | 156,703 | | | | | $ | 525,204 | | |
Prepaid expenses
|
| | | | 34,708 | | | | | | 23,750 | | |
Cash and marketable securities held in Trust Account
|
| | | | 241,937,059 | | | | | | — | | |
Total Current Assets
|
| | | | 242,128,470 | | | | | | 548,954 | | |
Cash and marketable securities held in Trust Account
|
| | | | — | | | | | | 241,600,623 | | |
TOTAL ASSETS
|
| | | $ | 242,128,470 | | | | | $ | 242,149,577 | | |
LIABILITIES AND SHAREHOLDERS’ DEFICIT | | | | | | | | | | | | | |
Current liabilities | | | | | | | | | | | | | |
Accrued expenses
|
| | | $ | 682,972 | | | | | $ | 211,548 | | |
Deferred business combination fees payable
|
| | | | 7,032,982 | | | | | | — | | |
Deferred underwriting fee payable
|
| | | | 9,082,500 | | | | | | — | | |
Total Current Liabilities
|
| | | | 16,798,454 | | | | | | 211,548 | | |
Deferred underwriting fee payable
|
| | | | — | | | | | | 9,082,500 | | |
Warrant liabilities
|
| | | | 3,599,625 | | | | | | 6,702,750 | | |
TOTAL LIABILITIES
|
| | | | 20,398,079 | | | | | | 15,996,798 | | |
Commitments and Contingencies | | | | | | | | | | | | | |
Class A ordinary shares subject to possible redemption; 24,150,000 shares
at redemption value as of June 30, 2022 and December 31, 2021 |
| | | | 241,937,059 | | | | | | 241,600,623 | | |
Shareholders’ Deficit | | | | | | | | | | | | | |
Preference shares, $0.001 par value; 1,000,000 shares authorized; none issued or outstanding
|
| | | | — | | | | | | — | | |
Class A ordinary shares, $0.001 par value; 100,000,000 shares authorized;
675,000 shares issued and outstanding (excluding 24,150,000 shares subject to possible redemption) as of June 30, 2022 and December 31, 2021 |
| | | | 675 | | | | | | 675 | | |
Class B ordinary shares, $0.001 par value; 10,000,000 shares authorized; 6,037,500 shares issued and outstanding as of June 30, 2022 and December 31, 2021
|
| | | | 6,038 | | | | | | 6,038 | | |
Additional paid-in capital
|
| | | | — | | | | | | — | | |
Accumulated deficit
|
| | | | (20,213,381) | | | | | | (15,454,557) | | |
Total Shareholders’ Deficit
|
| | | | (20,206,668) | | | | | | (15,447,844) | | |
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT
|
| | | $ | 242,128,470 | | | | | $ | 242,149,577 | | |
| | |
Three Months Ended
June 30, |
| |
Six Months Ended
June 30, |
| ||||||||||||||||||
| | |
2022
|
| |
2021
|
| |
2022
|
| |
2021
|
| ||||||||||||
Formation and operating costs
|
| | | $ | 5,556,525 | | | | | $ | 154,906 | | | | | $ | 7,861,949 | | | | | $ | 256,961 | | |
Loss from operations
|
| | | | (5,556,525) | | | | | | (154,906) | | | | | | (7,861,949) | | | | | | (256,961) | | |
Other income (loss): | | | | | | | | | | | | | | | | | | | | | | | | | |
Income earned on marketable securities held in Trust Account
|
| | | | 328,896 | | | | | | 30,198 | | | | | | 336,436 | | | | | | 49,114 | | |
Unrealized (loss) gain on marketable securities held in Trust Account
|
| | | | — | | | | | | (20,060) | | | | | | — | | | | | | 949 | | |
IPO transaction costs allocated to warrant liabilities
|
| | | | — | | | | | | — | | | | | | — | | | | | | (675,351) | | |
Change in fair value of warrant liabilities
|
| | | | 372,375 | | | | | | 2,110,125 | | | | | | 3,103,125 | | | | | | 2,979,000 | | |
Total other income, net
|
| | | | 701,271 | | | | | | 2,120,263 | | | | | | 3,439,561 | | | | | | 2,353,712 | | |
Net (loss) income
|
| | | $ | (4,855,254) | | | | | $ | 1,965,357 | | | | | $ | (4,422,388) | | | | | $ | 2,096,751 | | |
Weighted average shares outstanding of Class A ordinary shares subject to possible redemption
|
| | | | 24,150,000 | | | | | | 24,150,000 | | | | | | 24,150,000 | | | | | | 19,880,387 | | |
Basic and diluted net (loss) income per share, Class A ordinary shares subject to possible redemption
|
| | | $ | (0.16) | | | | | $ | 0.06 | | | | | $ | (0.14) | | | | | $ | 0.08 | | |
Weighted average shares outstanding of Non-redeemable ordinary shares
|
| | | | 6,712,500 | | | | | | 6,712,500 | | | | | | 6,712,500 | | | | | | 6,453,936 | | |
Basic and diluted net (loss) income per share, Non-redeemable ordinary shares
|
| | | $ | (0.16) | | | | | $ | 0.06 | | | | | $ | (0.14) | | | | | $ | 0.08 | | |
| | |
Class A
Ordinary Shares |
| |
Class B
Ordinary Shares |
| |
Additional
Paid-in Capital |
| |
Accumulated
Deficit |
| |
Total
Shareholders’ Deficit |
| |||||||||||||||||||||||||||
| | |
Shares
|
| |
Amount
|
| |
Shares
|
| |
Earnings
|
| ||||||||||||||||||||||||||||||
Balance – January 1, 2022
|
| | | | 675,000 | | | | | $ | 675 | | | | | | 6,037,500 | | | | | $ | 6,038 | | | | | $ | — | | | | | $ | (15,454,557) | | | | | $ | (15,447,844) | | |
Subsequent measurement of Class A ordinary shares to redemption amount
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (7,540) | | | | | | (7,540) | | |
Net income
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 432,866 | | | | | | 432,866 | | |
Balance – March 31, 2022
|
| | | | 675,000 | | | | | $ | 675 | | | | | | 6,037,500 | | | | | $ | 6,038 | | | | | $ | — | | | | | $ | (15,029,231) | | | | | $ | (15,022,518) | | |
Subsequent measurement of Class A ordinary shares to redemption amount
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (328,896) | | | | | | (328,896) | | |
Net loss
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (4,855,254) | | | | | | (4,855,254) | | |
Balance – June 30, 2022
|
| | | | 675,000 | | | | | $ | 675 | | | | | | 6,037,500 | | | | | $ | 6,038 | | | | | $ | — | | | | | $ | (20,213,381) | | | | | $ | (20,206,668) | | |
| | |
Class A
Ordinary Shares |
| |
Class B
Ordinary Shares |
| |
Additional
Paid-in Capital |
| |
Accumulated
Deficit |
| |
Total
Shareholders’ Equity (Deficit) |
| |||||||||||||||||||||||||||
| | |
Shares
|
| |
Amount
|
| |
Shares
|
| |
Earnings
|
| ||||||||||||||||||||||||||||||
Balance – January 1, 2021
|
| | | | — | | | | | $ | — | | | | | | 6,037,500 | | | | | $ | 6,038 | | | | | $ | 18,962 | | | | | $ | (4,891) | | | | | $ | 20,109 | | |
Sale of 675,000 Private Placement Units, net of initial fair value of Private Placement Warrants and offering costs
|
| | | | 675,000 | | | | | | 675 | | | | | | — | | | | | | — | | | | | | 6,435,891 | | | | | | — | | | | | | 6,436,566 | | |
Subsequent measurement of Class A ordinary shares to redemption amount
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (6,454,853) | | | | | | (18,700,607) | | | | | | (25,155,460) | | |
Net income
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 131,394 | | | | | | 131,394 | | |
Balance – March 31, 2021
|
| | | | 675,000 | | | | | $ | 675 | | | | | | 6,037,500 | | | | | $ | 6,038 | | | | | $ | — | | | | | $ | (18,574,104) | | | | | $ | (18,567,391) | | |
Subsequent measurement of Class A ordinary shares to redemption amount
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (10,138) | | | | | | (10,138) | | |
Net income
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,965,357 | | | | | | 1,965,357 | | |
Balance – June 30, 2021
|
| | | | 675,000 | | | | | $ | 675 | | | | | | 6,037,500 | | | | | $ | 6,038 | | | | | $ | — | | | | | $ | (16,618,885) | | | | | $ | (16,612,172) | | |
| | |
Six Months Ended
June 30, |
| |||||||||
| | |
2022
|
| |
2021
|
| ||||||
Cash Flows from Operating Activities: | | | | | | | | | | | | | |
Net (loss) income
|
| | | $ | (4,422,388) | | | | | $ | 2,096,751 | | |
Adjustments to reconcile net (loss) income to net cash used in operating activities:
|
| | | | | | | | | | | | |
Income earned on marketable securities held in Trust Account
|
| | | | (336,436) | | | | | | (49,114) | | |
Unrealized gain on marketable securities held in Trust Account
|
| | | | — | | | | | | (949) | | |
Change in fair value of warrant liabilities
|
| | | | (3,103,125) | | | | | | (2,979,000) | | |
IPO transaction costs allocated to warrant liabilities
|
| | | | — | | | | | | 675,351 | | |
Changes in operating assets and liabilities:
|
| | | | | | | | | | | | |
Prepaid expenses
|
| | | | (10,958) | | | | | | (208,960) | | |
Accrued expenses
|
| | | | 471,424 | | | | | | 5,620 | | |
Accrued offering costs
|
| | | | — | | | | | | (15,000) | | |
Deferred fees
|
| | | | 7,032,982 | | | | | | — | | |
Net cash used in operating activities
|
| | | | (368,501) | | | | | | (475,301) | | |
Cash Flows from Investing Activities: | | | | | | | | | | | | | |
Investment of cash into trust Account
|
| | | | — | | | | | | (241,500,000) | | |
Net cash used in investing activities
|
| | | | — | | | | |
|
(241,500,000)
|
| |
Cash Flows from Financing Activities: | | | | | | | | | | | | | |
Proceeds from initial public offering, net of underwriting discounts
paid |
| | | | — | | | | | | 236,250,000 | | |
Proceeds from sale of Private Placements Units
|
| | | | — | | | | | | 6,750,000 | | |
Proceeds from promissory note – related party
|
| | | | — | | | | | | 44,708 | | |
Repayment of convertible promissory note – related party
|
| | | | — | | | | | | (88,264) | | |
Payment of offering costs
|
| | | | — | | | | | | (253,314) | | |
Net cash provided by financing activities
|
| | | | — | | | | |
|
242,703,130
|
| |
Net Change in Cash
|
| | | | (368,501) | | | | | | 727,829 | | |
Cash – Beginning
|
| | | | 525,204 | | | | | | 1,000 | | |
Cash – Ending | | | | $ | 156,703 | | | | | $ | 728,829 | | |
Non-cash investing and financing activities: | | | | | | | | | | | | | |
Offering costs included in accrued offering costs
|
| | | $ | — | | | | | $ | 17,966 | | |
Subsequent measurement of Class A ordinary shares to redemption
amount |
| | | $ | 336,436 | | | | | $ | 25,165,598 | | |
Deferred underwriting fee payable
|
| | | $ | — | | | | | $ | 9,082,500 | | |
Initial classification of warrant liabilities
|
| | | $ | — | | | | | $ | 11,422,875 | | |
|
Gross proceeds
|
| | | $ | 241,500,000 | | |
| Less: | | | | | | | |
|
Proceeds allocated to Public Warrants
|
| | | | (11,109,000) | | |
|
Class A ordinary shares issuance costs
|
| | | | (14,006,535) | | |
| Plus: | | | | | | | |
|
Subsequent measurement of carrying value to redemption value
|
| | | | 25,216,158 | | |
|
Class A ordinary shares subject to possible redemption – December 31, 2021
|
| | | | 241,600,623 | | |
| Plus: | | | | | | | |
|
Subsequent measurement of carrying value to redemption value
|
| | | | 336,436 | | |
|
Class A ordinary shares subject to possible redemption – June 30, 2022
|
| | | $ | 241,937,059 | | |
| | |
Three Months Ended
June 30, |
| |
Six Months Ended
June 30, |
| ||||||||||||||||||||||||||||||||||||||||||
| | |
2022
|
| |
2021
|
| |
2022
|
| |
2021
|
| ||||||||||||||||||||||||||||||||||||
| | |
Redeemable
|
| |
Non-Redeemable
|
| |
Redeemable
|
| |
Non-Redeemable
|
| |
Redeemable
|
| |
Non-Redeemable
|
| |
Redeemable
|
| |
Non-Redeemable
|
| ||||||||||||||||||||||||
Basic and diluted net (loss) income per ordinary share
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Numerator: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Allocation of net (loss)
income |
| | | $ | (3,799,251) | | | | | $ | (1,056,003) | | | | | $ | 1,537,898 | | | | | | 427,459 | | | | | $ | (3,460,532) | | | | | $ | (961,856) | | | | | $ | 1,582,886 | | | | | | 513,865 | | |
Denominator: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Basic and diluted weighted average shares outstanding
|
| | | | 24,150,000 | | | | | | 6,712,500 | | | | | | 24,150,000 | | | | | | 6,712,500 | | | | | | 24,150,000 | | | | | | 6,712,500 | | | | | | 19,880,387 | | | | | | 6,453,936 | | |
Basic and diluted net (loss) income per ordinary share
|
| | | $ | (0.16) | | | | | $ | (0.16) | | | | | $ | 0.06 | | | | | | 0.06 | | | | | $ | (0.14) | | | | | $ | (0.14) | | | | | $ | 0.08 | | | | | | 0.08 | | |
Description
|
| |
Level
|
| |
June 30,
2022 |
| |
December 31,
2021 |
| |||||||||
Assets: | | | | | | | | | | | | | | | | | | | |
Marketable securities held in Trust Account
|
| | | | 1 | | | | | $ | 241,937,059 | | | | | $ | 241,600,623 | | |
Liabilities: | | | | | | | | | | | | | | | | | | | |
Warrant Liability – Public Warrants
|
| | | | 1 | | | | | $ | 3,501,750 | | | | | $ | 6,520,500 | | |
Warrant Liability – Private Placement Warrants
|
| | | | 3 | | | | | $ | 97,875 | | | | | $ | 182,250 | | |
| | |
February 1, 2021
(Initial Measurement) |
| |
December 31, 2021
|
| |
June 30, 2022
|
| |||||||||||||||
Input
|
| |
Public
Warrants |
| |
Private
Warrants |
| |
Private
Warrants |
| |
Private
Warrants |
| ||||||||||||
Ordinary Share Price
|
| | | $ | 9.55 | | | | | $ | 9.55 | | | | | $ | 9.82 | | | | | $ | 9.96 | | |
Exercise Price
|
| | | $ | 11.50 | | | | | $ | 11.50 | | | | | $ | 11.5 | | | | | $ | 11.50 | | |
Expected Life (in years)
|
| | | | 5 | | | | | | 5 | | | | | | 5.26 | | | | | | 5.01 | | |
Risk Free Interest Rate
|
| | | | 0.49% | | | | | | 0.49% | | | | | | 1.3% | | | | | | 3.10% | | |
Volatility
|
| | | | 19.00% | | | | | | 19.00% | | | | | | 9.9% | | | | | | 2.90% | | |
Dividend Yield
|
| | | | 0.00% | | | | | | 0.00% | | | | | | 0.00% | | | | | | 0.00% | | |
Redemption Trigger (20 of 30 trading days)
|
| | | $ | 18.00 | | | | | | N/A | | | | | | N/A | | | | | | N/A | | |
| | |
Private Placement
|
| |
Public
|
| |
Warrant Liabilities
|
| |||||||||
Fair value as of January 1, 2021
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | |
Initial measurement on February 1, 2021
|
| | | | 313,875 | | | | | | 11,109,000 | | | | | | 11,422,875 | | |
Change in fair value
|
| | | | (131,625) | | | | | | (2,898,000) | | | | | | (3,029,625) | | |
Transfers to Level 1
|
| | | | — | | | | | | (8,211,000) | | | | | | (8,211,000) | | |
Fair value as of December 31, 2021
|
| | | $ | 182,250 | | | | | $ | — | | | | | $ | 182,250 | | |
Change in fair value
|
| | | | (74,250) | | | | | | — | | | | | | (74,250) | | |
Fair value as of March 31, 2022
|
| | | $ | 108,000 | | | | | $ | — | | | | | $ | 108,000 | | |
Change in fair value
|
| | | | (10,125) | | | | | | — | | | | | | (10,125) | | |
Fair value as of June 30, 2022
|
| | | $ | 97,875 | | | | | $ | — | | | | | $ | 97,875 | | |
| | |
December 31, 2021
|
| |
December 31, 2020
|
| ||||||
ASSETS | | | | | | | | | | | | | |
Current assets | | | | | | | | | | | | | |
Cash
|
| | | $ | 525,204 | | | | | $ | 1,000 | | |
Prepaid expenses
|
| | | | 23,750 | | | | | | — | | |
Total Current Assets
|
| | | | 548,954 | | | | | | 1,000 | | |
Deferred offering costs
|
| | | | — | | | | | | 80,631 | | |
Cash and marketable securities held in Trust Account
|
| | | | 241,600,623 | | | | | | — | | |
TOTAL ASSETS
|
| | | $ | 242,149,577 | | | | | $ | 81,631 | | |
LIABILITIES AND SHAREHOLDERS’ (DEFICIT) EQUITY | | | | | | | | | | | | | |
Current liabilities | | | | | | | | | | | | | |
Accounts payable and accrued expenses
|
| | | $ | 211,548 | | | | | $ | — | | |
Accrued offering costs
|
| | | | — | | | | | | 17,966 | | |
Promissory note – related party
|
| | | | — | | | | | | 43,556 | | |
Total Current Liabilities
|
| | | | 211,548 | | | | | | 61,522 | | |
Deferred underwriting fee payable
|
| | | | 9,082,500 | | | | | | — | | |
Warrant liabilities
|
| | | | 6,702,750 | | | | | | — | | |
TOTAL LIABILITIES
|
| | | | 15,996,798 | | | | | | 61,522 | | |
Commitments and Contingencies | | | | | | | | | | | | | |
Class A ordinary shares subject to possible redemption; 24,150,000 and
no shares at redemption value as of December 31, 2021 and 2020, respectively |
| | | | 241,600,623 | | | | | | — | | |
Shareholders’ (Deficit) Equity | | | | | | | | | | | | | |
Preference shares, $0.001 par value; 1,000,000 shares authorized; none issued or outstanding
|
| | | | — | | | | | | — | | |
Class A ordinary shares, $0.001 par value; 100,000,000 shares
authorized; 675,000 and no shares issued and outstanding (excluding 24,150,000 and no shares subject to possible redemption) as of December 31, 2021 and 2020, respectively |
| | | | 675 | | | | | | — | | |
Class B ordinary shares, $0.001 par value; 10,000,000 shares authorized;
6,037,500 shares issued and outstanding as of December 31, 2021 and 2020 |
| | | | 6,038 | | | | | | 6,038 | | |
Additional paid-in capital
|
| | | | — | | | | | | 18,962 | | |
Accumulated deficit
|
| | | | (15,454,557) | | | | | | (4,891) | | |
Total Shareholders’ (Deficit) Equity
|
| | | | (15,447,844) | | | | | | 20,109 | | |
TOTAL LIABILITIES AND SHAREHOLDERS’ (DEFICIT) EQUITY
|
| | | $ | 242,149,577 | | | | | $ | 81,631 | | |
| | |
Year Ended
December 31, 2021 |
| |
For the period
from October 2, 2020 (inception) through December 31, 2020 |
| ||||||
Formation and operational costs
|
| | | $ | 833,758 | | | | | $ | 4,891 | | |
Loss from operations
|
| | | | (833,758) | | | | | | (4,891) | | |
Other income (loss): | | | | | | | | | | | | | |
Interest earned on marketable securities held in Trust Account
|
| | | | 97,231 | | | | | | — | | |
Unrealized gain on marketable securities held in Trust Account
|
| | | | 3,392 | | | | | | — | | |
Transaction costs allocated to warrant liabilities
|
| | | | (675,351) | | | | | | — | | |
Change in fair value of warrant liabilities
|
| | | | 4,720,125 | | | | | | — | | |
Other income, net
|
| | | | 4,145,397 | | | | | | — | | |
Net income (loss)
|
| | | $ | 3,311,639 | | | | | $ | (4,891) | | |
Weighted average shares outstanding of Class A ordinary shares subject to possible redemption
|
| | | | 22,098,904 | | | | | | — | | |
Basic and diluted income (loss) per share, Class A ordinary shares subject to possible redemption
|
| | | $ | 0.12 | | | | | $ | — | | |
Weighted average shares outstanding of Non-redeemable Class A and Class B ordinary shares
|
| | | | 6,588,288 | | | | | | 5,250,000 | | |
Basic net income (loss) per share, Non-redeemable Class A and Class B ordinary shares
|
| | | $ | 0.12 | | | | | $ | 0.00 | | |
Weighted average shares outstanding of Non-redeemable Class A and Class B ordinary shares
|
| | | | 6,655,171 | | | | | | — | | |
Diluted net income (loss) per share, Non-redeemable Class A and Class B ordinary shares
|
| | | $ | 0.12 | | | | | $ | — | | |
| | |
Class A
Ordinary Shares |
| |
Class B
Ordinary Shares |
| |
Additional
Paid-in Capital |
| |
Accumulated
Deficit |
| |
Total
Shareholders’ Equity (Deficit) |
| |||||||||||||||||||||||||||
| | |
Shares
|
| |
Amount
|
| |
Shares
|
| |
Earnings
|
| ||||||||||||||||||||||||||||||
Balance – October 2, 2020 (Inception)
|
| | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Issuance of Class B ordinary shares to Sponsor
|
| | | | — | | | | | | — | | | | | | 6,037,500 | | | | | | 6,038 | | | | | | 18,962 | | | | |
|
—
|
| | | | | 25,000 | | |
Net loss
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (4,891) | | | | | | (4,891) | | |
Balance – December 31, 2020
|
| | | | — | | | | | | — | | | | | | 6,037,500 | | | | | | 6,038 | | | | | | 18,962 | | | | | | (4,891) | | | | | | 20,109 | | |
Sale of 675,000 Private Placement Units, net of initial fair value of Private Placement Warrants and offering costs
|
| | | | 675,000 | | | | | | 675 | | | | | | — | | | | | | — | | | | | | 6,435,891 | | | | | | — | | | | | | 6,436,566 | | |
Subsequent measurement of Class A ordinary shares to redemption amount
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (6,454,853) | | | | | | (18,761,305) | | | | | | (25,216,158) | | |
Net income
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 3,311,639 | | | | | | 3,311,639 | | |
Balance – December 31, 2021
|
| | | | 675,000 | | | | | $ | 675 | | | | | | 6,037,500 | | | | | $ | 6,038 | | | | | $ | — | | | | | $ | (15,454,557) | | | | | $ | (15,447,844) | | |
| | |
Year Ended
December 31, 2021 |
| |
For the Period
from October 2, 2020 (Inception) through December 31, 2020 |
| ||||||
Cash Flows from Operating Activities: | | | | | | | | | | | | | |
Net income (loss)
|
| | | $ | 3,311,639 | | | | | $ | (4,891) | | |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | | | | | | | | | | | | | |
Interest earned on marketable securities held in Trust Account
|
| | | | (97,231) | | | | | | — | | |
Unrealized gain on marketable securities held in Trust Account
|
| | | | (3,392) | | | | | | — | | |
Change in fair value of warrant liabilities
|
| | | | (4,720,125) | | | | | | — | | |
Transaction costs allocated to warrant liabilities
|
| | | | 675,351 | | | | | | — | | |
Changes in operating assets and liabilities:
|
| | | | | | | | | | | | |
Prepaid expenses
|
| | | | (23,750) | | | | | | — | | |
Accrued offering costs
|
| | | | (32,966) | | | | | | — | | |
Accrued expenses
|
| | | | 211,548 | | | | | | — | | |
Net cash used in operating activities
|
| | | | (678,926) | | | | | | (4,891) | | |
Cash Flows from Investing Activities: | | | | | | | | | | | | | |
Investment of cash into trust Account
|
| | | | (241,500,000) | | | | | | — | | |
Net cash used in investing activities
|
| | |
|
(241,500,000)
|
| | | | | — | | |
Cash Flows from Financing Activities: | | | | | | | | | | | | | |
Proceeds from initial public offering, net of underwriting discounts paid
|
| | | | 236,250,000 | | | | | | — | | |
Proceeds from sale of Private Placements Units
|
| | | | 6,750,000 | | | | | | — | | |
Proceeds from promissory note – related party
|
| | | | 44,708 | | | | | | 43,556 | | |
Repayment of convertible promissory note – related party
|
| | | | (88,264) | | | | | | — | | |
Payment of offering costs
|
| | | | (253,314) | | | | | | (37,665) | | |
Net cash provided by financing activities
|
| | | | 242,703,130 | | | | | | 5,891 | | |
Net Change in Cash
|
| | | | 524,204 | | | | | | 1,000 | | |
Cash – Beginning
|
| | | | 1,000 | | | | | | — | | |
Cash – Ending | | | | $ | 525,204 | | | | | $ | 1,000 | | |
Non-cash investing and financing activities: | | | | | | | | | | | | | |
Offering costs included in accrued offering costs
|
| | | $ | — | | | | | $ | 17,966 | | |
Subsequent measurement of Class A ordinary shares to redemption amount
|
| | | $ | 25,216,158 | | | | | $ | — | | |
Deferred underwriting fee payable
|
| | | $ | 9,082,500 | | | | | $ | — | | |
Initial classification of warrant liabilities
|
| | | $ | 11,422,875 | | | | | $ | — | | |
Offering costs paid by Sponsor in exchange for issuance of founder shares
|
| | | $ | — | | | | | $ | 25,000 | | |
|
Gross proceeds
|
| | | $ | 241,500,000 | | |
| Less: | | | | | | | |
|
Proceeds allocated to Public Warrants
|
| | | | (11,109,000) | | |
|
Class A ordinary shares issuance costs
|
| | | | (14,006,535) | | |
| Plus: | | | | | | | |
|
Subsequent measurement of carrying value to redemption value
|
| | | | 25,216,158 | | |
|
Class A ordinary shares subject to possible redemption
|
| | | $ | 241,600,623 | | |
| | |
Year Ended
December 31, 2021 |
| |
For the period from October 2, 2020
(inception) through December 31, 2020 |
| ||||||||||||||||||
| | |
Class A
|
| |
Class B
|
| |
Class A
|
| |
Class B
|
| ||||||||||||
Basic net income (loss) per ordinary share | | | | | | | | | | | | | | | | | | | | | | | | | |
Numerator: | | | | | | | | | | | | | | | | | | | | | | | | | |
Allocation of net income (loss), as adjusted
|
| | | $ | 2,551,089 | | | | | $ | 760,550 | | | | | $ | — | | | | | $ | (4,891) | | |
Denominator: | | | | | | | | | | | | | | | | | | | | | | | | | |
Basic weighted average shares outstanding
|
| | | | 22,098,904 | | | | | | 6,588,288 | | | | | | — | | | | | | 5,250,000 | | |
Basic net income (loss) per ordinary share
|
| | | $ | 0.12 | | | | | $ | 0.12 | | | | | $ | — | | | | | $ | 0.00 | | |
| | |
Year Ended
December 31, 2021 |
| |
For the period from October 2, 2020
(inception) through December 31, 2020 |
| ||||||||||||||||||
| | |
Class A
|
| |
Class B
|
| |
Class A
|
| |
Class B
|
| ||||||||||||
Diluted net income (loss) per ordinary share | | | | | | | | | | | | | | | | | | | | | | | | | |
Numerator: | | | | | | | | | | | | | | | | | | | | | | | | | |
Allocation of net income (loss), as adjusted
|
| | | $ | 2,545,155 | | | | | $ | 766,484 | | | | | $ | — | | | | | $ | (4,891) | | |
Denominator: | | | | | | | | | | | | | | | | | | | | | | | | | |
Diluted weighted average shares outstanding
|
| | | | 22,098,904 | | | | | | 6,655,171 | | | | | | — | | | | | | 5,250,000 | | |
Diluted net income (loss) per ordinary share
|
| | | $ | 0.12 | | | | | $ | 0.12 | | | | | $ | — | | | | | $ | 0.00 | | |
Description
|
| |
Level
|
| |
December 31,
2021 |
| ||||||
Assets: | | | | | | | | | | | | | |
Marketable securities held in Trust Account
|
| | | | 1 | | | | | $ | 241,600,623 | | |
Liabilities: | | | | | | | | | | | | | |
Warrant Liability – Public Warrants
|
| | | | 1 | | | | | $ | 6,520,500 | | |
Warrant Liability – Private Placement Warrants
|
| | | | 3 | | | | | $ | 182,250 | | |
| | |
February 1, 2021
(Initial Measurement) |
| |
December 31, 2021
|
| ||||||||||||
Input
|
| |
Public
Warrants |
| |
Private
Warrants |
| |
Private
Warrants |
| |||||||||
Ordinary Share Price
|
| | | $ | 9.55 | | | | | | 9.55 | | | | | $ | 9.82 | | |
Exercise Price
|
| | | $ | 11.50 | | | | | | 11.50 | | | | | $ | 11.50 | | |
Expected Life (in years)
|
| | | | 5 | | | | | | 5 | | | | | | 5.26 | | |
Risk Free Interest Rate
|
| | | | 0.49% | | | | | | 0.49% | | | | | | 1.3% | | |
Volatility
|
| | | | 19.00% | | | | | | 19.00% | | | | | | 9.9% | | |
Dividend Yield
|
| | | | 0.00% | | | | | | 0.00% | | | | | | 0.00% | | |
Redemption Trigger (20 of 30 trading days)
|
| | | $ | 18.00 | | | | | | N/A | | | | | | N/A | | |
| | |
Private Placement
|
| |
Public
|
| |
Warrant Liabilities
|
| |||||||||
Fair value as of January 1, 2021
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | |
Initial measurement on February 1, 2021
|
| | | | 313,875 | | | | | | 11,109,000 | | | | | | 11,422,875 | | |
Change in fair value
|
| | | | (131,625) | | | | | | (2,898,000) | | | | | | (3,029,625) | | |
Transfers to Level 1
|
| | | | — | | | | | | (8,211,000) | | | | | | (8,211,000) | | |
Fair value as of December 31, 2021
|
| | | $ | 182,250 | | | | | $ | — | | | | | $ | 182,250 | | |
| | |
June 30,
2022 |
| |
December 31,
2021 |
| ||||||
| | |
(Unaudited)
|
| | | | | | | |||
Assets | | | | | | | | | | | | | |
Current assets: | | | | | | | | | | | | | |
Cash and cash equivalents
|
| | | $ | 10,932 | | | | | $ | 15,506 | | |
Restricted short-term investments
|
| | | | 8,476 | | | | | | 8,484 | | |
Accounts receivable, net of allowance of $4,998, and $5,005 as of June 30, 2022 and December 31, 2021, respectively
|
| | | | 20,260 | | | | | | 10,178 | | |
Contract assets, net of allowance of $1,000 as of June 30, 2022 and December 31,
2021 |
| | | | 8,110 | | | | | | 3,935 | | |
Prepaid expenses and other current assets
|
| | | | 12,421 | | | | | | 2,588 | | |
Total current assets
|
| | | $ | 60,199 | | | | | $ | 40,691 | | |
Property and equipment, net
|
| | | | 10,029 | | | | | | 8,874 | | |
Goodwill
|
| | | | 66,420 | | | | | | 66,420 | | |
Intangible assets, net
|
| | | | 60,539 | | | | | | 63,708 | | |
Loan receivable from related party
|
| | | | 22,310 | | | | | | 22,054 | | |
Operating lease right-of-use assets
|
| | | | 2,275 | | | | | | — | | |
Other non-current assets
|
| | | | 1,994 | | | | | | 1,588 | | |
TOTAL ASSETS
|
| | | $ | 223,766 | | | | | $ | 203,335 | | |
Liabilities and Stockholder’s Deficit | | | | | | | | | | | | | |
Current liabilities | | | | | | | | | | | | | |
Accounts payable
|
| | | | 29,740 | | | | | | 19,529 | | |
Amounts payable to related parties
|
| | | | 1,552 | | | | | | 716 | | |
Paycheck Protection Program (PPP) and other government loans, current
portion |
| | | | 50 | | | | | | 338 | | |
Accrued expenses and other current liabilities
|
| | | | 21,743 | | | | | | 10,354 | | |
Deferred revenue
|
| | | | 6,743 | | | | | | 6,450 | | |
Long-term debt, current portion
|
| | | | 15,454 | | | | | | 11,063 | | |
Total current liabilities
|
| | | $ | 75,282 | | | | | $ | 48,450 | | |
Deferred income taxes
|
| | | | 604 | | | | | | 512 | | |
Note payable to related party
|
| | | | 195 | | | | | | 193 | | |
PPP and other government loans excluding current portion
|
| | | | 199 | | | | | | 1,915 | | |
Long-term debt excluding current portion
|
| | | | 166,097 | | | | | | 162,170 | | |
Deferred revenue excluding current portion
|
| | | | 13,138 | | | | | | 14,288 | | |
Operating lease liabilities excluding current portion
|
| | | | 1,648 | | | | | | — | | |
Other long-term liabilities
|
| | | | 2,543 | | | | | | 2,632 | | |
Total liabilities
|
| | | $ | 259,706 | | | | | $ | 230,160 | | |
Commitments and contingencies (Note 6) | | | | | | | | | | | | | |
Stockholder’s deficit: | | | | | | | | | | | | | |
Common stock – $0.01 par value; 1,000 stock authorized, 1 stock issued and outstanding
|
| | | | — | | | | | | — | | |
Additional paid-in capital
|
| | | | 163,626 | | | | | | 163,465 | | |
Accumulated other comprehensive loss
|
| | | | (445) | | | | | | (273) | | |
Accumulated deficit
|
| | | | (199,121) | | | | | | (190,017) | | |
Total stockholder’s deficit
|
| | | $ | (35,940) | | | | | $ | (26,825) | | |
TOTAL LIABILITIES AND STOCKHOLDER’S DEFICIT
|
| | | $ | 223,766 | | | | | $ | 203,335 | | |
| | |
Three Months Ended
June 30, |
| |
Six Months Ended
June 30, |
| ||||||||||||||||||
| | |
2022
|
| |
2021
|
| |
2022
|
| |
2021
|
| ||||||||||||
Revenues, net
|
| | | $ | 42,650 | | | | | $ | 23,557 | | | | | $ | 80,303 | | | | | $ | 37,051 | | |
Operating expenses: | | | | | | | | | | | | | | | | | | | | | | | | | |
Marketing expenses
|
| | | | 25,847 | | | | | | 12,833 | | | | | | 49,018 | | | | | | 21,075 | | |
Sales and other expenses, including non-employee stock-based compensation of $0, $2, $6, and $2 respectively
|
| | | | 3,554 | | | | | | 3,130 | | | | | | 6,378 | | | | | | 4,337 | | |
Personnel expenses, including stock-based compensation of $81, $3,769, $155, and $3,769 respectively
|
| | | | 5,752 | | | | | | 8,527 | | | | | | 11,324 | | | | | | 12,662 | | |
General and administrative expenses
|
| | | | 2,025 | | | | | | 1,228 | | | | | | 4,465 | | | | | | 2,915 | | |
Information technology expenses
|
| | | | 1,158 | | | | | | 1,088 | | | | | | 2,464 | | | | | | 2,113 | | |
Provision for doubtful accounts receivable and contract assets
|
| | | | (121) | | | | | | 758 | | | | | | 86 | | | | | | 1,593 | | |
Depreciation and amortization
|
| | | | 2,769 | | | | | | 3,305 | | | | | | 5,586 | | | | | | 6,520 | | |
Total operating expenses
|
| | | | 40,984 | | | | | | 30,869 | | | | | | 79,321 | | | | | | 51,215 | | |
Income (loss) from operations
|
| | | | 1,666 | | | | | | (7,312) | | | | | | 982 | | | | | | (14,164) | | |
Other income (expense): | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest income
|
| | | | 134 | | | | | | 128 | | | | | | 261 | | | | | | 252 | | |
Interest expense
|
| | | | (6,601) | | | | | | (5,813) | | | | | | (12,830) | | | | | | (11,362) | | |
Gain on extinguishment of PPP loan
|
| | | | 2,009 | | | | | | — | | | | | | 2,009 | | | | | | — | | |
Other expense, net
|
| | | | 915 | | | | | | (26) | | | | | | 764 | | | | | | (35) | | |
Total other expense, net
|
| | | | (3,543) | | | | | | (5,711) | | | | | | (9,796) | | | | | | (11,145) | | |
Loss before income taxes
|
| | | $ | (1,877) | | | | | $ | (13,023) | | | | | $ | (8,814) | | | | | $ | (25,309) | | |
Provision for income taxes
|
| | | | (236) | | | | | | (55) | | | | | | (290) | | | | | | (120) | | |
Net loss
|
| | | $ | (2,113) | | | | | $ | (13,078) | | | | | $ | (9,104) | | | | | $ | (25,429) | | |
| | |
Three Months Ended
June 30, |
| |
Six Months Ended
June 30, |
| ||||||||||||||||||
| | |
2022
|
| |
2021
|
| |
2022
|
| |
2021
|
| ||||||||||||
Net loss
|
| | | $ | (2,113) | | | | | $ | (13,078) | | | | | $ | (9,104) | | | | | $ | (25,429) | | |
Other comprehensive loss, net of tax: | | | | | | | | | | | | | | | | | | | | | | | | | |
Currency translation adjustment
|
| | | | 57 | | | | | | (31) | | | | | | (172) | | | | | | (92) | | |
Comprehensive loss
|
| | | $ | (2,056) | | | | | $ | (13,109) | | | | | $ | (9,276) | | | | | $ | (25,521) | | |
| | |
Common
Stock |
| |
Additional
Paid-in-Capital |
| |
Accumulated
Other Comprehensive Loss |
| |
Accumulated
Deficit |
| |
Total
Stockholder’s Deficit |
| |||||||||||||||||||||
| | |
Shares
|
| |
Amount
|
| | | | | | | | | | | | | | | | | | | | | | | | | ||||||
Balance at March 31, 2021
|
| | | | 1 | | | | | $ | — | | | | | $ | 159,529 | | | | | $ | (23) | | | | | $ | (163,463) | | | | | $ | (3,957) | | |
Stock based compensation
|
| | | | — | | | | | | — | | | | | | 3,771 | | | | | | — | | | | | | — | | | | | | 3,771 | | |
Currency translation adjustment
|
| | | | — | | | | | | — | | | | | | — | | | | | | (31) | | | | | | — | | | | | | (31) | | |
Net loss
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (13,078) | | | | | | (13,078) | | |
Balance at June 30, 2021
|
| | | | 1 | | | | |
|
—
|
| | | | | 163,300 | | | | | | (54) | | | | | | (176,541) | | | | | | (13,295) | | |
| | |
Common Stock
|
| |
Additional
Paid-in-Capital |
| |
Accumulated
Other Comprehensive Loss |
| |
Accumulated
Deficit |
| |
Total
Stockholder’s Deficit |
| |||||||||||||||||||||
| | |
Shares
|
| |
Amount
|
| | | | | | | | | | | | | | | | | | | | | | | | | ||||||
Balance at December 31, 2020
|
| | | | 1 | | | | | $ | — | | | | | $ | 159,529 | | | | | $ | 38 | | | | | $ | (151,112) | | | | | $ | 8,455 | | |
Stock based compensation
|
| | | | — | | | | | | — | | | | | | 3,771 | | | | | | — | | | | | | — | | | | | | 3,771 | | |
Currency translation adjustment
|
| | | | — | | | | | | — | | | | | | — | | | | | | (92) | | | | | | — | | | | | | (92) | | |
Net loss
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (25,429) | | | | | | (25,429) | | |
Balance at June 30, 2021
|
| | | | 1 | | | | | $ | — | | | | | $ | 163,300 | | | | | $ | (54) | | | | | $ | (176,541) | | | | | $ | (13,295) | | |
| | |
Common
Stock |
| |
Additional
Paid-in-Capital |
| |
Accumulated
Other Comprehensive Loss |
| |
Accumulated
Deficit |
| |
Total
Stockholder’s Deficit |
| |||||||||||||||||||||
| | |
Shares
|
| |
Amount
|
| | | | | | | | | | | | | | | | | | | | | | | | | ||||||
Balance at March 31, 2022
|
| | | | — | | | | |
$
|
—
|
| | | |
$
|
163,545
|
| | | |
$
|
(502)
|
| | | |
$
|
(197,008)
|
| | | |
$
|
(33,965)
|
| |
Stock based compensation
|
| | | | — | | | | | | — | | | | | | 81 | | | | | | — | | | | | | — | | | | | | 81 | | |
Currency translation adjustment
|
| | | | — | | | | | | — | | | | | | — | | | | | | 57 | | | | | | — | | | | | | 57 | | |
Net loss
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | |
|
(2,113)
|
| | | |
|
(2,113)
|
| |
Balance at June 30, 2022
|
| | |
|
—
|
| | | | $ | — | | | | | $ | 163,626 | | | | | $ | (445) | | | | | $ | (199,121) | | | | | $ | (35,940) | | |
| | |
Common Stock
|
| |
Additional
Paid-in-Capital |
| |
Accumulated
Other Comprehensive Loss |
| |
Accumulated
Deficit |
| |
Total
Stockholder’s Deficit |
| |||||||||||||||||||||
| | |
Shares
|
| |
Amount
|
| | | | | | | | | | | | | | | | | | | | | | | | | ||||||
Balance at December 31, 2021
|
| | | | 1 | | | | | $ | — | | | | | $ | 163,465 | | | | | $ | (273) | | | | | $ | (190,017) | | | | | $ | (26,825) | | |
Stock based compensation
|
| | | | — | | | | | | — | | | | | | 161 | | | | | | — | | | | | | — | | | | | | 161 | | |
Currency translation adjustment
|
| | | | — | | | | | | — | | | | | | — | | | | | | (172) | | | | | | — | | | | | | (172) | | |
Net loss
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (9,104) | | | | | | (9,104) | | |
Balance at June 30, 2022
|
| | |
|
—
|
| | | | $ | — | | | | | $ | 163,626 | | | | | $ | (445) | | | | | $ | (199,121) | | | | | $ | (35,940) | | |
| | |
Six Months Ended
June 30, |
| |||||||||
| | |
2022
|
| |
2021
|
| ||||||
Cash flows from operating activities | | | | | | | | | | | | | |
Net loss
|
| | | $ | (9,104) | | | | | $ | (25,429) | | |
Adjustments to reconcile net loss to net cash provided by / (used in) operating activities
|
| | | | | | | | | | | | |
Depreciation and amortization
|
| | | | 5,586 | | | | | | 6,520 | | |
Deferred taxes
|
| | | | 92 | | | | | | 92 | | |
Provision for doubtful accounts receivable and contract assets
|
| | | | 86 | | | | | | 1,593 | | |
Stock-based compensation
|
| | | | 161 | | | | | | 3,771 | | |
Amortization of loan origination fees
|
| | | | 1,638 | | | | | | 873 | | |
Payment in kind interest expense
|
| | | | 6,840 | | | | | | 7,169 | | |
Gain on Forgiveness of PPP Loan
|
| | | | (2,009) | | | | | | — | | |
Change in the estimated fair value of earn-out consideration
|
| | | | (595) | | | | | | 194 | | |
Changes in operating assets and liabilities | | | | | | | | | | | | | |
Accounts receivable
|
| | | | (10,168) | | | | | | (4,084) | | |
Contract assets
|
| | | | (4,175) | | | | | | 2,051 | | |
Prepaid expenses and other current assets
|
| | | | (8,990) | | | | | | 6 | | |
Operating lease right-of-use assets
|
| | | | (76) | | | | | | — | | |
Other non-current assets
|
| | | | (662) | | | | | | (357) | | |
Amounts payable to related parties, current portion
|
| | | | 836 | | | | | | 798 | | |
Accounts payable
|
| | | | 10,211 | | | | | | 3,299 | | |
Accrued expenses and other current liabilities
|
| | | | 11,224 | | | | | | 2,984 | | |
Deferred revenue
|
| | | | (857) | | | | | | (1,290) | | |
Operating lease liabilities
|
| | | | 121 | | | | | | — | | |
Other long term liabilities
|
| | | | 5 | | | | | | — | | |
Net cash provided by (used in) operating activities
|
| | | | 164 | | | | | | (1,810) | | |
Cash flows from investing activities | | | | | | | | | | | | | |
Capital expenditure
|
| | | | (3,472) | | | | | | (2,089) | | |
Sale of restricted short term investments
|
| | | | — | | | | | | 280 | | |
Net cash used in investing activities
|
| | | | (3,472) | | | | | | (1,809) | | |
Cash flows from financing activities | | | | | | | | | | | | | |
Repayments of long-term debt
|
| | | | (259) | | | | | | (196) | | |
Repayment of short-term debt
|
| | | | — | | | | | | (191) | | |
Proceeds from PPP and other government loans
|
| | | | — | | | | | | 3,592 | | |
Payment of deferred offering costs
|
| | | | (835) | | | | | | — | | |
Net cash (used in) / provided by financing activities
|
| | | | (1,094) | | | | | | 3,205 | | |
Effect of exchange rate changes on cash, cash equivalents and restricted cash
|
| | | | (172) | | | | | | (92) | | |
Net decrease in cash, cash equivalents and restricted cash
|
| | | | (4,574) | | | | | | (506) | | |
Cash, cash equivalents and restricted cash at beginning of period
|
| | | | 15,506 | | | | | | 31,525 | | |
Cash, cash equivalents and restricted cash at end of period
|
| | | $ | 10,932 | | | | | $ | 31,019 | | |
Supplemental cash flow information: | | | | | | | | | | | | | |
Cash paid for interest
|
| | | $ | 94 | | | | | $ | 102 | | |
Non-cash investing and financing activities | | | | | | | | | | | | | |
Deferred financing costs in accrued expenses and other current liabilities at period
end |
| | | $ | 8,125 | | | | | $ | — | | |
| | |
June 30, 2022
|
| |||||||||||||||||||||
| | |
Level 1
|
| |
Level 2
|
| |
Level 3
|
| |
Total
|
| ||||||||||||
Liabilities | | | | | | | | | | | | | | | | | | | | | | | | | |
Earn-out consideration(1)
|
| | | | — | | | | | $ | — | | | | | $ | 2 | | | | | $ | 2 | | |
| | |
December 31, 2021
|
| |||||||||||||||||||||
| | |
Level 1
|
| |
Level 2
|
| |
Level 3
|
| |
Total
|
| ||||||||||||
Liabilities | | | | | | | | | | | | | | | | | | | | | | | | | |
Earn-out consideration(1)
|
| | | $ | — | | | | | $ | — | | | | | $ | 597 | | | | | $ | 597 | | |
| | |
Three Months Ended
June 30, |
| |
Six Months Ended
June 30, |
| ||||||||||||||||||
| | |
2022
|
| |
2021
|
| |
2022
|
| |
2021
|
| ||||||||||||
Balance, beginning of period
|
| | | $ | 762 | | | | | $ | 540 | | | | | $ | 597 | | | | | $ | 332 | | |
Change in the estimated fair value of earn-out consideration
|
| | | | (760) | | | | | | (14) | | | | | | (595) | | | | | | 194 | | |
Balance, end of the period
|
| | | $ | 2 | | | | | $ | 526 | | | | | $ | 2 | | | | | $ | 526 | | |
| | |
Three Months Ended
June 30, |
| |
Six Months Ended
June 30, |
| ||||||||||||||||||
| | |
2022
|
| |
2021
|
| |
2022
|
| |
2021
|
| ||||||||||||
Revenue from Travel Marketplace
|
| | | $ | 42,397 | | | | | $ | 23,467 | | | | | $ | 79,758 | | | | | $ | 36,617 | | |
Revenue from SAAS Platform
|
| | | | 253 | | | | | | 90 | | | | | | 545 | | | | | | 434 | | |
| | | | $ | 42,650 | | | | | $ | 23,557 | | | | | $ | 80,303 | | | | | $ | 37,051 | | |
| | |
Accounts
Receivable |
| |
Contract
Asset |
| |
Deferred
Revenue |
| |||||||||
Ending Balance as of December 31, 2021
|
| | | | 10,178 | | | | | | 3,935 | | | | | | (20,738) | | |
Increase/(decrease), net
|
| | | | 10,082 | | | | | | 4,175 | | | | | | 857 | | |
Ending Balance as of June 30, 2022
|
| | | $ | 20,260 | | | | | $ | 8,110 | | | | | $ | (19,881) | | |
| | |
By Period
|
| |||||||||||||||||||||
Total
|
| |
Less than 1 Year
|
| |
1 to 3 Years
|
| |
3 to 5 Years
|
| |
More than 5 Years
|
| ||||||||||||
7,119 | | | | | 7,069 | | | | | | 50 | | | | | | — | | | | | | — | | |
| | |
As of June 30, 2022
|
| |||
Reported as:
|
| | | $ | | | |
Assets: | | | | | | | |
Operating lease right-of-use assets
|
| | | $ | 2,275 | | |
Liabilities: | | | | | | | |
Accrued expenses and other current liabilities
|
| | | $ | 808 | | |
Operating lease liabilities, non-current
|
| | | | 1,648 | | |
Total operating lease liabilities
|
| | | $ | 2,456 | | |
| | |
For Six months
ended June 30, 2022 |
| |||
Cash paid within operating cash flows
|
| | | $ | 140 | | |
Operating lease right-of-use assets recognized in exchange for new operating lease
obligations |
| | |
|
2,888
|
| |
| | |
As of June 30,
2022 |
| |||
2022 (remaining six months)
|
| | | $ | 625 | | |
2023
|
| | | | 718 | | |
2024
|
| | | | 566 | | |
2025
|
| | | | 252 | | |
2026
|
| | | | 219 | | |
Thereafter
|
| | | | 438 | | |
Total operating lease payments
|
| | | | 2,818 | | |
Less: Imputed interest
|
| | | | (362) | | |
Total operating lease liabilities
|
| | | $ | 2,456 | | |
Particulars
|
| |
Three Months Ended June 30,
|
| |
Six Months Ended June 30,
|
| ||||||||||||||||||
|
2022
|
| |
2021
|
| |
2022
|
| |
2021
|
| ||||||||||||||
Current service cost
|
| | | | 2 | | | | | | 15 | | | | | | 23 | | | | | | 36 | | |
Interest cost
|
| | | | 2 | | | | | | 7 | | | | | | 8 | | | | | | 12 | | |
Net actuarial gain recognized in the period
|
| | | | (12) | | | | | | (68) | | | | | | (15) | | | | | | (71) | | |
(Income)/Expenses recognized in the condensed consolidated statement of operations
|
| | | | (8) | | | | | | (46) | | | | | | 16 | | | | | | (23) | | |
Particulars
|
| |
Three Months Ended June 30,
|
| |
Six Months Ended June 30,
|
| ||||||||||||||||||
|
2022
|
| |
2021
|
| |
2022
|
| |
2021
|
| ||||||||||||||
Actuarial gain for the period obligation
|
| | | | 12 | | | | | | 68 | | | | | | 15 | | | | | | 71 | | |
Actuarial (gain)/loss for the period plan assets
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Total actuarial gain on obligation
|
| | | | 12 | | | | | | 68 | | | | | | 15 | | | | | | 71 | | |
| | |
Three Months Ended June 30,
|
| |
Six Months Ended
June 30, |
| ||||||||||||||||||
Transactions with Related Parties
|
| |
2022
|
| |
2021
|
| |
2022
|
| |
2021
|
| ||||||||||||
Offshore IT, sales support and other services from | | | | | | | | | | | | | | | | | | | | | | | | | |
Metaminds Software(e)
|
| | | | — | | | | | | 48 | | | | | | — | | | | | | 83 | | |
Metaminds Technologies(e)
|
| | | | — | | | | | | 29 | | | | | | 54 | | | | | | 87 | | |
Metaminds Global(e)
|
| | | | — | | | | | | 56 | | | | | | 78 | | | | | | 95 | | |
Offshore software development services from | | | | | | | | | | | | | | | | | | | | | | | | | |
Metaminds Software(e)
|
| | | | — | | | | | | 190 | | | | | | — | | | | | | 330 | | |
Metaminds Technologies(e)
|
| | | | — | | | | | | 113 | | | | | | 216 | | | | | | 347 | | |
Metaminds Global(e)
|
| | | | — | | | | | | 224 | | | | | | 312 | | | | | | 378 | | |
Interest Income from Mondee Group Loan(b)
|
| | | | 129 | | | | | | 126 | | | | | | 256 | | | | | | 250 | | |
Service fee from Mondee Group LLC(a)
|
| | | | 974 | | | | | | — | | | | | | 1,941 | | | | | | | | |
Rent expense – from Mike Melham(d)
|
| | | | 16 | | | | | | 16 | | | | | | 33 | | | | | | 33 | | |
Rent expense – from Metaminds Software(f)
|
| | | | 58 | | | | | | — | | | | | | 58 | | | | | | — | | |
| | |
Three Months Ended June 30, 2022
|
| |||||||||||||||
| | |
Travel Marketplace
|
| |
SAAS Platform
|
| |
Total
|
| |||||||||
Third-party revenue
|
| | | $ | 42,397 | | | | | | 253 | | | | | | 42,650 | | |
Intersegment revenue
|
| | | | — | | | | | | — | | | | | | — | | |
Revenue
|
| | | $ | 42,397 | | | | | | 253 | | | | | | 42,650 | | |
Adjusted EBITDA
|
| | | $ | 4,971 | | | | | | (455) | | | | | | 4,516 | | |
Depreciation and amortization
|
| | | | (2,633) | | | | | | (136) | | | | | | (2,769) | | |
Stock-based compensation
|
| | | | (81) | | | | | | — | | | | | | (81) | | |
Operating Income (loss)
|
| | | $ | 2,257 | | | | | | (591) | | | | | | 1,666 | | |
Other expense, net
|
| | | | | | | | | | | | | | | | (3,543) | | |
Loss before income taxes
|
| | | | | | | | | | | | | | | | (1,877) | | |
Provision for income taxes
|
| | | | | | | | | | | | | | | | (236) | | |
Net loss
|
| | | | | | | | | | | | | | | | (2,113) | | |
| | |
Three Months Ended June 30, 2021
|
| |||||||||||||||
| | |
Travel Marketplace
|
| |
SAAS Platform
|
| |
Total
|
| |||||||||
Third-party revenue
|
| | | $ | 23,467 | | | | | | 90 | | | | | | 23,557 | | |
Intersegment revenue
|
| | | | — | | | | | | — | | | | | | — | | |
Revenue
|
| | | $ | 23,467 | | | | | | 90 | | | | | | 23,557 | | |
Adjusted EBITDA
|
| | | $ | 393 | | | | | | (629) | | | | | | (236) | | |
Depreciation and amortization
|
| | | | (3,165) | | | | | | (140) | | | | | | (3,305) | | |
Stock-based compensation
|
| | | | (3,771) | | | | | | — | | | | | | (3,771) | | |
Operating loss
|
| | | $ | (6,543) | | | | | | (769) | | | | | | (7,312) | | |
Other expense, net
|
| | | | | | | | | | | | | | | | (5,711) | | |
Loss before income taxes
|
| | | | | | | | | | | | | | | | (13,023) | | |
Provision for income taxes
|
| | | | | | | | | | | | | | | | (55) | | |
Net loss
|
| | | | | | | | | | | | | | | | (13,078) | | |
| | |
Six Months Ended June 30, 2022
|
| |||||||||||||||
| | |
Travel Marketplace
|
| |
SAAS Platform
|
| |
Total
|
| |||||||||
Third-party revenue
|
| | | $ | 79,758 | | | | | | 545 | | | | | | 80,303 | | |
Intersegment revenue
|
| | | | — | | | | | | — | | | | | | — | | |
Revenue
|
| | | $ | 79,758 | | | | | | 545 | | | | | | 80,303 | | |
Adjusted EBITDA
|
| | | $ | 7,737 | | | | | | (1,008) | | | | | | 6,729 | | |
Depreciation and amortization
|
| | | | (5,312) | | | | | | (274) | | | | | | (5,586) | | |
Stock-based compensation
|
| | | | (161) | | | | | | — | | | | | | (161) | | |
| | |
Six Months Ended June 30, 2022
|
| |||||||||||||||
| | |
Travel Marketplace
|
| |
SAAS Platform
|
| |
Total
|
| |||||||||
Operating Income (loss)
|
| | | $ | 2,264 | | | | | | (1,282) | | | | | | 982 | | |
Other expense, net
|
| | | | | | | | | | | | | | | | (9,796) | | |
Loss before income taxes
|
| | | | | | | | | | | | | | | | (8,814) | | |
Provision for income taxes
|
| | | | | | | | | | | | | | | | (290) | | |
Net loss
|
| | | | | | | | | | | | | | | | (9,104) | | |
|
| | |
Six Months Ended June 30, 2021
|
| |||||||||||||||
| | |
Travel Marketplace
|
| |
SAAS Platform
|
| |
Total
|
| |||||||||
Third-party revenue
|
| | | $ | 36,617 | | | | | | 434 | | | | | | 37,051 | | |
Intersegment revenue
|
| | | | | | | | | | — | | | | | | — | | |
Revenue
|
| | | $ | 36,617 | | | | | | 434 | | | | | | 37,051 | | |
Adjusted EBITDA
|
| | | $ | (2,850) | | | | | | (1,023) | | | | | | (3,873) | | |
Depreciation and amortization
|
| | | | (6,233) | | | | | | (287) | | | | | | (6,520) | | |
Stock-based compensation
|
| | | | (3,771) | | | | | | — | | | | | | (3,771) | | |
Operating loss
|
| | | $ | (12,854) | | | | | | (1,310) | | | | | | (14,164) | | |
Other expense, net
|
| | | | | | | | | | | | | | | | (11,145) | | |
Loss before income taxes
|
| | | | | | | | | | | | | | | | (25,309) | | |
Provision for income taxes
|
| | | | | | | | | | | | | | | | (120) | | |
Net loss
|
| | | | | | | | | | | | | | | | (25,429) | | |
| | |
Three Months Ended June 30,
|
| |||||||||
| | |
2022
|
| |
2021
|
| ||||||
United States
|
| | | $ | 40,372 | | | | | $ | 23,294 | | |
International
|
| | | | 2,278 | | | | | | 263 | | |
| | | | $ | 42,650 | | | | | $ | 23,557 | | |
| | |
Six Months Ended June 30,
|
| |||||||||
| | |
2022
|
| |
2021
|
| ||||||
United States
|
| | | $ | 76,164 | | | | | $ | 36,556 | | |
International
|
| | | | 4,139 | | | | | | 495 | | |
| | | | $ | 80,303 | | | | | $ | 37,051 | | |
| | |
2021 Grants
|
|
Expected term (in years)
|
| |
0 – 2.5
|
|
Risk-free interest rate
|
| |
0.81% – 1.26%
|
|
Expected volatility
|
| |
50.92% – 53.85%
|
|
Expected dividend rate
|
| |
0%
|
|
Weighted average contractual life
|
| |
0 – 2.5
|
|
| | |
2018 Grants
|
|
Expected term (in years)
|
| |
0 – 2.5
|
|
Risk-free interest rate
|
| |
2.9%
|
|
Expected volatility
|
| |
26.0%
|
|
Expected dividend rate
|
| |
0%
|
|
Weighted average contractual life
|
| |
0 – 2.5
|
|
| | |
Number of Class D
Incentive Units Outstanding |
| |
Weighted
average grant date fair value of units |
| |
Weighted
average remaining contractual life (Years) |
| |
Weighted average
exercise price |
| ||||||||||||
Unvested – December 31, 2021
|
| | | | 10,278,486 | | | | | | 0.13 | | | | | | 2 | | | | | | 0.03 | | |
Granted
|
| | | | — | | | | | | — | | | | | | | | | | | | | | |
Vested
|
| | | | (89,359) | | | | | | 0.002 | | | | | | | | | | | | | | |
Forfeited or canceled
|
| | | | (50,000) | | | | | | — | | | | | | | | | | | | | | |
Unvested – March 31, 2022
|
| | | | 10,139,127 | | | | | | 0.1 | | | | | | 1.75 | | | | | | 0.03 | | |
Granted
|
| | | | — | | | | | | — | | | | | | | | | | | | | | |
Vested
|
| | | | (2,490,532) | | | | | | 0.125 | | | | | | | | | | | | | | |
Forfeited or canceled
|
| | | | — | | | | | | — | | | | | | | | | | | | | | |
Unvested – June 30, 2022
|
| | | | 7,648,595 | | | | | | 0.128 | | | | | | 2 | | | | | | 0.03 | | |
| | |
As of December 31,
|
| |||||||||
| | |
2021
|
| |
2020
|
| ||||||
Assets | | | | | | | | | | | | | |
Current assets: | | | | | | | | | | | | | |
Cash and cash equivalents
|
| | | $ | 15,506 | | | | | $ | 31,425 | | |
Restricted cash and cash equivalents
|
| | | | — | | | | | | 100 | | |
Restricted short-term investments
|
| | | | 8,484 | | | | | | 9,394 | | |
Accounts receivable, net of allowance of $5,005, and $3,911, respectively
|
| | | | 10,178 | | | | | | 5,355 | | |
Contract assets, net of allowance of $1,000 and $500, respectively
|
| | | | 3,935 | | | | | | 4,420 | | |
Prepaid expenses and other current assets
|
| | | | 2,588 | | | | | | 2,611 | | |
Total current assets
|
| | | | 40,691 | | | | | | 53,305 | | |
Property and equipment, net
|
| | | | 8,874 | | | | | | 9,156 | | |
Goodwill
|
| | | | 66,420 | | | | | | 66,420 | | |
Intangible assets, net
|
| | | | 63,708 | | | | | | 71,590 | | |
Loan receivable from related party
|
| | | | 22,054 | | | | | | 21,547 | | |
Other non-current assets
|
| | | | 1,588 | | | | | | 1,338 | | |
TOTAL ASSETS
|
| | | $ | 203,335 | | | | | $ | 223,356 | | |
Liabilities and Stockholder’s (Deficit) Equity | | | | | | | | | | | | | |
Current liabilities | | | | | | | | | | | | | |
Accounts payable
|
| | | $ | 19,529 | | | | | $ | 17,414 | | |
Amounts payable to related parties
|
| | | | 716 | | | | | | 757 | | |
Paycheck Protection Program (PPP) and other government loans, current portion
|
| | | | 338 | | | | | | — | | |
Accrued expenses and other current liabilities
|
| | | | 10,354 | | | | | | 11,477 | | |
Deferred revenue
|
| | | | 6,450 | | | | | | 7,265 | | |
Long-term debt, current portion
|
| | | | 11,063 | | | | | | 8,618 | | |
Total current liabilities
|
| | | | 48,450 | | | | | | 45,531 | | |
Deferred income taxes
|
| | | | 512 | | | | | | 328 | | |
Note payable to related party
|
| | | | 193 | | | | | | 189 | | |
PPP and other government loans excluding current portion
|
| | | | 1,915 | | | | | | 4,331 | | |
Long-term debt excluding current portion
|
| | | | 162,170 | | | | | | 148,027 | | |
Deferred revenue excluding current portion
|
| | | | 14,288 | | | | | | 16,139 | | |
Other long-term liabilities
|
| | | | 2,632 | | | | | | 356 | | |
Total liabilities
|
| | | | 230,160 | | | | | | 214,901 | | |
Commitments and contingencies (Note 11) | | | | | | | | | | | | | |
Stockholder’s (deficit) equity: | | | | | | | | | | | | | |
Common stock – $0.01 par value; 1,000 stock authorized, 1 stock issued and outstanding
|
| | | | — | | | | | | — | | |
Additional paid-in capital
|
| | | | 163,465 | | | | | | 159,529 | | |
Accumulated other comprehensive (loss) income
|
| | | | (273) | | | | | | 38 | | |
Accumulated deficit
|
| | | | (190,017) | | | | | | (151,112) | | |
Total stockholder’s (deficit) equity
|
| | | | (26,825) | | | | | | 8,455 | | |
TOTAL LIABILITIES AND STOCKHOLDER’S EQUITY (DEFICIT)
|
| | | $ | 203,335 | | | | | $ | 223,356 | | |
| | |
For the year ended December 31,
|
| |||||||||
| | |
2021
|
| |
2020
|
| ||||||
Revenues, net
|
| | | $ | 93,194 | | | | | $ | 65,796 | | |
Operating expenses: | | | | | | | | | | | | | |
Marketing expenses
|
| | | | 54,611 | | | | | | 39,501 | | |
Sales and other expenses, including non-employee stock-based compensation
of $16 and $0, respectively |
| | | | 11,165 | | | | | | 14,434 | | |
Personnel expenses, including stock-based compensation of $3,920 and $15,
respectively |
| | | | 23,422 | | | | | | 20,658 | | |
General and administrative expenses
|
| | | | 7,455 | | | | | | 7,736 | | |
Information technology expenses
|
| | | | 4,058 | | | | | | 3,255 | | |
Provision for doubtful accounts receivable and contract assets
|
| | | | 1,874 | | | | | | 4,655 | | |
Depreciation and amortization
|
| | | | 12,861 | | | | | | 11,414 | | |
Total operating expenses
|
| | | | 115,446 | | | | | | 101,653 | | |
Loss from operations
|
| | | | (22,252) | | | | | | (35,857) | | |
Other income (expense): | | | | | | | | | | | | | |
Interest income
|
| | | | 505 | | | | | | 508 | | |
Interest expense
|
| | | | (23,683) | | | | | | (20,410) | | |
Gain on forgiveness of PPP loans
|
| | | | 5,868 | | | | | | — | | |
Other income (expense), net
|
| | | | 980 | | | | | | (17) | | |
Total other expense, net
|
| | | | (16,330) | | | | | | (19,919) | | |
Loss before income taxes
|
| | | | (38,582) | | | | | | (55,776) | | |
(Provision for) Benefit from income taxes
|
| | | | (323) | | | | | | 14,042 | | |
Net loss
|
| | | $ | (38,905) | | | | | $ | (41,734) | | |
| | |
For the year ended December 31,
|
| |||||||||
| | |
2021
|
| |
2020
|
| ||||||
Net loss
|
| | | $ | (38,905) | | | | | $ | (41,734) | | |
Other comprehensive (loss) income, net of tax: | | | | | | | | | | | | | |
Currency translation adjustment
|
| | | | (311) | | | | | | 1 | | |
Comprehensive loss
|
| | | $ | (39,216) | | | | | $ | (41,733) | | |
| | |
Common Stock
|
| |
Additional
Paid-in- Capital |
| |
Accumulated
Other Comprehensive Income (Loss) |
| |
Accumulated
Deficit |
| |
Total
Stockholder’s Equity (Deficit) |
| |||||||||||||||||||||
| | |
Shares
|
| |
Amount
|
| ||||||||||||||||||||||||||||||
Balance at December 31, 2019
|
| | | | 1 | | | | | $ | — | | | | | $ | 100,226 | | | | | $ | 37 | | | | | $ | (109,378) | | | | | $ | (9,115) | | |
Stock based compensation
|
| | | | — | | | | | | — | | | | | | 15 | | | | | | — | | | | | | — | | | | | | 15 | | |
Parent unit issued for acquisition of CTS (refer note 8)
|
| | | | — | | | | | | — | | | | | | 10,428 | | | | | | — | | | | | | — | | | | | | 10,428 | | |
Parent put options issued for acquisition
of CTS (refer note 8) |
| | | | — | | | | | | — | | | | | | 25,020 | | | | | | — | | | | | | — | | | | | | 25,020 | | |
Parent unit issued for acquisition of Rocketrip (refer note 8)
|
| | | | — | | | | | | — | | | | | | 699 | | | | | | — | | | | | | — | | | | | | 699 | | |
Parent put options issued for acquisition
of Rocketrip (refer note 8) |
| | | | — | | | | | | — | | | | | | 5,045 | | | | | | — | | | | | | — | | | | | | 5,045 | | |
Parent unit issued to lenders (refer note 7)
|
| | | | — | | | | | | — | | | | | | 6,525 | | | | | | — | | | | | | — | | | | | | 6,525 | | |
Capital contribution from Parent
|
| | | | — | | | | | | — | | | | | | 11,571 | | | | | | — | | | | | | — | | | | | | 11,571 | | |
Currency translation adjustments
|
| | | | — | | | | | | — | | | | | | — | | | | | | 1 | | | | | | — | | | | | | 1 | | |
Net loss
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (41,734) | | | | | | (41,734) | | |
Balance at December 31, 2020
|
| | | | 1 | | | | | $ | — | | | | | $ | 159,529 | | | | | $ | 38 | | | | | $ | (151,112) | | | | | $ | 8,455 | | |
Stock based compensation
|
| | | | — | | | | | | — | | | | | | 3,936 | | | | | | — | | | | | | — | | | | | | 3,936 | | |
Currency translation adjustment
|
| | | | — | | | | | | — | | | | | | — | | | | | | (311) | | | | | | — | | | | | | (311) | | |
Net loss
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (38,905) | | | | | | (38,905) | | |
Balance at December 31, 2021
|
| | | | 1 | | | | | $ | — | | | | | $ | 163,465 | | | | | $ | (273) | | | | | $ | (190,017) | | | | | $ | (26,825) | | |
| | |
For the year ended December 31,
|
| |||||||||
| | |
2021
|
| |
2020
|
| ||||||
Cash flows from operating activities | | | | | | | | | | | | | |
Net loss
|
| | | $ | (38,905) | | | | | $ | (41,734) | | |
Adjustments to reconcile net loss to net cash used in operating activities | | | | | | | | | | | | | |
Depreciation and amortization
|
| | | | 12,861 | | | | | | 11,414 | | |
Deferred taxes
|
| | | | 184 | | | | | | (13,941) | | |
Provision for doubtful accounts receivable and contract assets
|
| | | | 1,874 | | | | | | 4,655 | | |
Stock-based compensation
|
| | | | 3,936 | | | | | | 15 | | |
Amortization of loan origination fees
|
| | | | 2,361 | | | | | | 551 | | |
Payment in kind interest expense
|
| | | | 14,582 | | | | | | 19,619 | | |
Gain on forgiveness of PPP loans
|
| | | | (5,868) | | | | | | — | | |
Change in the estimated fair value of earn-out consideration
|
| | | | 265 | | | | | | (66) | | |
Changes in operating assets and liabilities | | | | | | | | | | | | | |
Accounts receivable
|
| | | | (6,697) | | | | | | 11,505 | | |
Contract assets
|
| | | | 485 | | | | | | 19,555 | | |
Prepaid expenses and other current assets
|
| | | | 23 | | | | | | 1,011 | | |
Other non-current assets
|
| | | | (757) | | | | | | 38 | | |
Amounts payable to related parties, current portion
|
| | | | (358) | | | | | | — | | |
Accounts payable
|
| | | | 2,115 | | | | | | (19,459) | | |
Accrued expenses and other current liabilities
|
| | | | 892 | | | | | | 2,488 | | |
Deferred revenue
|
| | | | (2,666) | | | | | | 687 | | |
Net cash used in operating activities
|
| | | | (15,673) | | | | | | (3,662) | | |
Cash flows from investing activities | | | | | | | | | | | | | |
Capital expenditure
|
| | | | (4,022) | | | | | | (4,061) | | |
Cash paid for the acquisition; net of cash acquired
|
| | | | — | | | | | | (34,912) | | |
Purchase of restricted short-term investments
|
| | | | — | | | | | | (195) | | |
Sale of restricted short-term investments
|
| | | | 910 | | | | | | 1,458 | | |
Net cash used in investing activities
|
| | | | (3,112) | | | | | | (37,710) | | |
Cash flows from financing activities | | | | | | | | | | | | | |
Repayments of long-term debt
|
| | | | (638) | | | | | | (1,269) | | |
Proceeds from issuance of long-term debt
|
| | | | — | | | | | | 55,000 | | |
Loan origination fees for long-term debt
|
| | | | (75) | | | | | | (1,762) | | |
Proceeds from PPP and other government loans
|
| | | | 3,790 | | | | | | 4,331 | | |
Capital contribution from Parent
|
| | | | — | | | | | | 11,571 | | |
Repayment of Related Party Loan
|
| | | | — | | | | | | (6,784) | | |
Net cash provided by financing activities
|
| | | | 3,077 | | | | | | 61,087 | | |
Effect of exchange rate changes on cash, cash equivalents and restricted cash
|
| | | | (311) | | | | | | 1 | | |
Net increase (decrease) in cash, cash equivalents and restricted cash
|
| | | | (16,019) | | | | | | 19,716 | | |
Cash, cash equivalents and restricted cash at beginning of year
|
| | | | 31,525 | | | | | | 11,809 | | |
Cash, cash equivalents and restricted cash at end of year
|
| | | $ | 15,506 | | | | | $ | 31,525 | | |
Supplemental disclosures of cash flow information: | | | | | | | | | | | | | |
Cash paid during the year for interest
|
| | | $ | 6,740 | | | | | $ | 316 | | |
Cash paid during the year for income taxes
|
| | | $ | 82 | | | | | $ | 711 | | |
Supplemental schedule of noncash investing and financing activities | | | | | | | | | | | | | |
Fair value of Parent units and Put Options in connection with acquisition of CTS
|
| | | $ | — | | | | | $ | 35,448 | | |
Fair value of Parent units and Put Options in connection with acquisition of Rocketrip
|
| | | $ | — | | | | | $ | 5,744 | | |
Fair value of Parent units issued to lenders
|
| | | $ | — | | | | | $ | 6,525 | | |
| | |
As of December 31,
|
| |||||||||
| | |
2021
|
| |
2020
|
| ||||||
Cash and cash equivalents
|
| | | $ | 15,506 | | | | | $ | 31,425 | | |
Restricted cash
|
| | | | — | | | | | | 100 | | |
| | | | $ | 15,506 | | | | | $ | 31,525 | | |
| | |
Useful Lives
|
|
Computer equipment
|
| |
3 – 7 years
|
|
Furniture and office equipment
|
| |
5 – 7 years
|
|
Capitalized software
|
| |
3 years
|
|
| | |
Amortization Period
|
|
Covenants not to compete
|
| |
5 years
|
|
Trade name with definite life
|
| |
20 years
|
|
Acquired technology
|
| |
10 years
|
|
Customer relationships
|
| |
5 – 10 years
|
|
Supplier relationships
|
| |
15 years
|
|
Developed technology
|
| |
5 – 10 years
|
|
| | |
December 31, 2021
|
| |||||||||||||||||||||
| | |
Level 1
|
| |
Level 2
|
| |
Level 3
|
| |
Total
|
| ||||||||||||
Assets | | | | | | | | | | | | | | | | | | | | | | | | | |
Restricted cash and cash equivalents(1)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Total assets
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Liabilities | | | | | | | | | | | | | | | | | | | | | | | | | |
Earn-out consideration(2)
|
| | | | — | | | | | $ | — | | | | | $ | 597 | | | | | $ | 597 | | |
| | |
December 31, 2020
|
| |||||||||||||||||||||
| | |
Level 1
|
| |
Level 2
|
| |
Level 3
|
| |
Total
|
| ||||||||||||
Assets | | | | | | | | | | | | | | | | | | | | | | | | | |
Restricted cash and cash equivalents(1)
|
| | | | 100 | | | | | | — | | | | | | — | | | | | | 100 | | |
Total assets
|
| | | $ | 100 | | | | | $ | — | | | | | $ | — | | | | | $ | 100 | | |
Liabilities | | | | | | | | | | | | | | | | | | | | | | | | | |
Earn-out consideration(2)
|
| | | $ | — | | | | | $ | — | | | | | $ | 332 | | | | | $ | 332 | | |
| | |
For the Year Ended December 31,
|
| |||||||||
| | |
2021
|
| |
2020
|
| ||||||
Balance, beginning of year
|
| | | $ | 332 | | | | | $ | 398 | | |
Change in the estimated fair value of earn-out consideration
|
| | | | 265 | | | | | | (66) | | |
Balance, end of year
|
| | | $ | 597 | | | | | $ | 332 | | |
| | |
As of December 31,
|
| |||||||||
| | |
2021
|
| |
2020
|
| ||||||
Capitalized software
|
| | | $ | 27,606 | | | | | $ | 19,326 | | |
Computer equipment
|
| | | | 749 | | | | | | 655 | | |
Furniture and office equipment
|
| | | | 428 | | | | | | 357 | | |
Leasehold improvements
|
| | | | 233 | | | | | | 233 | | |
Capitalized software development in process
|
| | | | 1,218 | | | | | | 4,898 | | |
Total property and equipment
|
| | | | 30,234 | | | | | | 25,469 | | |
Less: accumulated depreciation and amortization
|
| | | | (21,360) | | | | | | (16,313) | | |
Total property and equipment, net
|
| | | $ | 8,874 | | | | | $ | 9,156 | | |
| | |
As of December 31,
|
| |||||||||
| | |
2021
|
| |
2020
|
| ||||||
Goodwill
|
| | | $ | 66,420 | | | | | $ | 66,420 | | |
Intangible assets with indefinite lives
|
| | | | 12,028 | | | | | | 12,028 | | |
Intangible assets with definitive lives, net
|
| | | | 51,680 | | | | | | 59,562 | | |
| | |
Travel
Marketplace |
| |
SAAS
Platform |
| |
Total
|
| |||||||||
Balance as of December 31, 2019
|
| | | $ | 27,277 | | | | | $ | — | | | | | $ | 27,277 | | |
Additions
|
| | | | 31,722 | | | | | | 7,421 | | | | | | 39,143 | | |
Impairment charges
|
| | | | — | | | | | | — | | | | | | — | | |
Balance as of December 31, 2020
|
| | | | 58,999 | | | | | | 7,421 | | | | | | 66,420 | | |
Additions
|
| | | | — | | | | | | — | | | | | | — | | |
Impairment charges
|
| | | | — | | | | | | — | | | | | | — | | |
Balance as of December 31, 2021
|
| | | $ | 58,999 | | | | | $ | 7,421 | | | | | $ | 66,420 | | |
| | |
Weighted-
average Remaining Useful Life (in years) |
| |
Gross
Carrying Amount |
| |
Accumulated
Amortization |
| |
Net Carrying
Amount |
| ||||||||||||
Customer relationships
|
| | | | 5.57 | | | | | $ | 60,778 | | | | | $ | (24,613) | | | | | $ | 36,165 | | |
Trade name
|
| | | | 9.95 | | | | | | 9,580 | | | | | | (4,816) | | | | | | 4,764 | | |
Acquired technology
|
| | | | — | | | | | | 7,430 | | | | | | (7,430) | | | | | | — | | |
Supplier relationships
|
| | | | 13.02 | | | | | | 5,767 | | | | | | (769) | | | | | | 4,998 | | |
Developed technology
|
| | | | 8.24 | | | | | | 7,220 | | | | | | (1,467) | | | | | | 5,753 | | |
Covenants not to compete
|
| | | | — | | | | | | 332 | | | | | | (332) | | | | | | — | | |
Balances as of December 31, 2021
|
| | | | | | | | | $ | 91,107 | | | | | $ | (39,427) | | | | | $ | 51,680 | | |
| | |
Weighted-
average Remaining Useful Life (in years) |
| |
Gross
Carrying Amount |
| |
Accumulated
Amortization |
| |
Net Carrying
Amount |
| ||||||||||||
Customer relationships
|
| | | | 6.57 | | | | | $ | 60,778 | | | | | $ | (18,953) | | | | | $ | 41,825 | | |
Trade name
|
| | | | 10.95 | | | | | | 9,580 | | | | | | (4,337) | | | | | | 5,243 | | |
Acquired technology
|
| | | | 0.75 | | | | | | 7,430 | | | | | | (6,873) | | | | | | 557 | | |
Supplier relationships
|
| | | | 14.02 | | | | | | 5,767 | | | | | | (376) | | | | | | 5,391 | | |
Developed technology
|
| | | | 9.24 | | | | | | 7,220 | | | | | | (674) | | | | | | 6,546 | | |
Covenants not to compete
|
| | | | — | | | | | | 332 | | | | | | (332) | | | | | | — | | |
Balances as of December 31, 2020
|
| | | | | | | | | $ | 91,107 | | | | | $ | (31,545) | | | | | $ | 59,562 | | |
| | |
As of December 31,
|
| |||||||||
| | |
2021
|
| |
2020
|
| ||||||
Accrued expenses
|
| | | $ | 4,834 | | | | | $ | 4,548 | | |
Provision for chargebacks
|
| | | | 3,176 | | | | | | 4,150 | | |
Accrued compensation and benefits
|
| | | | 1,427 | | | | | | 905 | | |
Earn-out consideration payable
|
| | | | 597 | | | | | | 332 | | |
Other current liabilities
|
| | | | 320 | | | | | | 1,542 | | |
| | | | $ | 10,354 | | | | | $ | 11,477 | | |
| | |
As of December 31,
|
| |||||||||
| | |
2021
|
| |
2020
|
| ||||||
HASCAP
|
| | | $ | 198 | | | | | $ | — | | |
CEBA
|
| | | | 55 | | | | | | 39 | | |
PPP
|
| | | | 2,000 | | | | | | 4,292 | | |
Total PPP and other governmental loans
|
| | | $ | 2,253 | | | | | $ | 4,331 | | |
Lee: current portion of PPP and other governmental loans
|
| | | | (338) | | | | | | — | | |
Total PPP and other governmental loans, net of current portion
|
| | | $ | 1,915 | | | | | $ | 4,331 | | |
| | |
As of December 31,
|
| |||||||||
| | |
2021
|
| |
2020
|
| ||||||
TCW Credit Agreement
|
| | | $ | 150,000 | | | | | $ | 150,000 | | |
Cumulative PIK interest for TCW Credit Agreement(2)
|
| | | | 36,858 | | | | | | 20,164 | | |
GDS Obligation
|
| | | | 298 | | | | | | 745 | | |
Vendor Obligation
|
| | | | — | | | | | | 191 | | |
Total outstanding principal balance
|
| | | $ | 187,156 | | | | | $ | 171,100 | | |
Less: Unamortized debt issuance costs and discounts
|
| | | | (13,923) | | | | | | (14,455) | | |
Total debt
|
| | | $ | 173,233 | | | | | $ | 156,645 | | |
Less : Current portion of long term debt
|
| | | | (11,063) | | | | | | (8,618) | | |
Long term debt, net of current portion
|
| | | $ | 162,170 | | | | | $ | 148,027 | | |
| | |
Year ended December 31,
|
| |||||||||
| | |
2021
|
| |
2020
|
| ||||||
Cash interest expense
|
| | | $ | 6,587 | | | | | $ | 99 | | |
Payment in kind interest, net(1)
|
| | | | 14,582 | | | | | | 19,619 | | |
LOC commitment charges
|
| | | | 153 | | | | | | 141 | | |
Amortization of debt issuance costs
|
| | | | 2,361 | | | | | | 551 | | |
| | | | $ | 23,683 | | | | | $ | 20,410 | | |
Year ending December 31,
|
| |
Borrowing Arrangements
|
| |
PPP and Other
Governmental Loans |
| ||||||
2022
|
| | | $ | 11,063 | | | | | $ | 338 | | |
2023
|
| | | | 9,243 | | | | | | 571 | | |
2024
|
| | | | 166,850 | | | | | | 560 | | |
2025
|
| | | | — | | | | | | 566 | | |
2026
|
| | | | — | | | | | | 113 | | |
Thereafter
|
| | | | — | | | | | | 105 | | |
| | | | | 187,156 | | | | | | 2,253 | | |
Less: Loan origination fees
|
| | | | (13,923) | | | | | | — | | |
| | | | $ | 173,233 | | | | | $ | 2,253 | | |
| Purchase Price Consideration | | | | | | | |
|
Cash consideration(i)
|
| | | $ | 2,500 | | |
|
Issuance of shares of Parent stock and Put Option(ii)
|
| | | | 3,133 | | |
|
Deferred issuance of shares of Parent stock and Put Option(iii)
|
| | | | 2,611 | | |
|
Total purchase price consideration
|
| | | $ | 8,244 | | |
|
Trade accounts receivables
|
| | | $ | 745 | | |
|
Prepaid and other current assets
|
| | | | 2,116 | | |
|
Property and equipment, net
|
| | | | 105 | | |
|
Intangible assets
|
| | | | 4,162 | | |
|
Trade accounts payable
|
| | | | (684) | | |
|
Accrued expenses and other current liabilities
|
| | | | (696) | | |
|
Deferred revenue
|
| | | | (4,906) | | |
|
Other non-current liabilities
|
| | | | (19) | | |
|
Net identifiable assets
|
| | | | 823 | | |
|
Goodwill
|
| | | | 7,421 | | |
|
Total purchase consideration
|
| | | $ | 8,244 | | |
| | |
Useful life (years)
|
| |
Fair value
|
| ||||||
Customer relationships
|
| | | | 5 | | | | | $ | 1,825 | | |
Trade names
|
| | | | — | | | | | | 1,551 | | |
Developed technology
|
| | | | 5 | | | | | | 786 | | |
Total acquired intangibles
|
| | | | | | | | | $ | 4,162 | | |
| Purchase price consideration | | | | | | | |
|
Cash consideration(i)
|
| | | $ | 39,000 | | |
|
Issuance of Parent stock and put options(ii)
|
| | | | 35,448 | | |
|
Total purchase price consideration
|
| | | $ | 74,448 | | |
|
Cash and cash equivalents
|
| | | $ | 6,588 | | |
|
Restricted short-term investments
|
| | | | 2,572 | | |
|
Trade accounts receivable
|
| | | | 5,108 | | |
|
Other non-current assets
|
| | | | 143 | | |
|
Property and equipment, net
|
| | | | 23 | | |
|
Intangible assets, net
|
| | | | 51,621 | | |
|
Trade accounts payable
|
| | | | (4,296) | | |
|
Accrued expenses and other current liabilities
|
| | | | (4,909) | | |
|
Deferred tax liability
|
| | | | (14,124) | | |
|
Net identifiable assets
|
| | | | 42,726 | | |
|
Goodwill
|
| | | | 31,722 | | |
|
Total purchase consideration
|
| | | $ | 74,448 | | |
| | |
Useful life (years)
|
| |
Fair value
|
| ||||||
Customer relationships
|
| | | | 10 | | | | | $ | 43,083 | | |
Trade names
|
| | | | — | | | | | | 4,977 | | |
Developed technology
|
| | | | 10 | | | | | | 3,561 | | |
Total acquired intangibles
|
| | | | | | | | | $ | 51,621 | | |
|
Purchase price consideration
|
| | | | | | |
|
Assumed liability(i)
|
| | | $ | 3,423 | | |
|
Promissory notes issued(ii)
|
| | | | 1,750 | | |
|
Issuance of shares of Parent stock and Put Option(iii)
|
| | | | 16,051 | | |
|
Earn-out consideration(iv)
|
| | | | 396 | | |
|
Total purchase price consideration
|
| | | $ | 21,620 | | |
|
Cash
|
| | | $ | 1,146 | | |
|
Trade accounts receivable
|
| | | | 2,518 | | |
|
Property and equipment, net
|
| | | | 284 | | |
|
Prepaid expenses and other current assets
|
| | | | 591 | | |
|
Other non-current assets
|
| | | | 384 | | |
|
Intangible assets
|
| | | | 14,140 | | |
|
Trade accounts payable
|
| | | | (12,788) | | |
|
Other non-current liabilities
|
| | | | (42) | | |
|
Accrued liabilities
|
| | | | (1,399) | | |
|
Net identifiable assets
|
| | | | 4,834 | | |
|
Goodwill
|
| | | | 16,786 | | |
|
Total purchase price consideration
|
| | | $ | 21,620 | | |
| | |
Useful life (years)
|
| |
Fair value
|
| ||||||
Supplier relationships
|
| | | | 15 | | | | | $ | 5,767 | | |
Trade name
|
| | | | — | | | | | | 5,500 | | |
Developed technology
|
| | | | 10 | | | | | | 2,873 | | |
Total acquired intangibles
|
| | | | | | | | | $ | 14,140 | | |
| | |
Year ended December 31,
|
| |||||||||
| | |
2021
|
| |
2020
|
| ||||||
Revenue from Travel Marketplace
|
| | | $ | 92,038 | | | | | $ | 65,057 | | |
Revenue from SAAS Platform
|
| | | | 1,156 | | | | | | 739 | | |
| | | | $ | 93,194 | | | | | $ | 65,796 | | |
| | |
Accounts Receivables
|
| |
Contract Asset
|
| |
Deferred Revenue
|
| |||||||||
Ending Balance as of December 31, 2019
|
| | | $ | 15,664 | | | | | $ | 23,975 | | | | | $ | (21,386) | | |
Increase/(decrease), net
|
| | | | (10,309) | | | | | | (19,555) | | | | | | (2,018) | | |
Ending Balance as of December 31, 2020
|
| | | | 5,355 | | | | | | 4,420 | | | | | | (23,404) | | |
Increase/(decrease), net
|
| | | | 4,823 | | | | | | (485) | | | | | | 2,666 | | |
Ending Balance as of December 31, 2021
|
| | | $ | 10,178 | | | | | $ | 3,935 | | | | | $ | (20,738) | | |
| | |
Year ended December 31,
|
| |||||||||
| | |
2021
|
| |
2020
|
| ||||||
United States
|
| | | $ | (38,396) | | | | | $ | (55,936) | | |
International
|
| | | | (186) | | | | | | 160 | | |
| | | | $ | (38,582) | | | | | $ | (55,776) | | |
| | |
Year ended December 31,
|
| |||||||||
| | |
2021
|
| |
2020
|
| ||||||
Current tax expense: | | | | | | | | | | | | | |
Federal
|
| | | $ | — | | | | | $ | (282) | | |
State
|
| | | | 18 | | | | | | 74 | | |
International
|
| | | | 121 | | | | | | 107 | | |
| | | | | 139 | | | | | | (101) | | |
Deferred
|
| | | | | | | | | | | | |
Federal
|
| | | | 42 | | | | | | (9,513) | | |
State
|
| | | | 142 | | | | | | (4,422) | | |
International
|
| | | | — | | | | | | (6) | | |
| | | | | 184 | | | | | | (13,941) | | |
Total provision (benefit) for income taxes
|
| | | $ | 323 | | | | | $ | (14,042) | | |
| | |
Year ended December 31,
|
| |||||||||
| | |
2021
|
| |
2020
|
| ||||||
Accrued bonus and vacation
|
| | | $ | 308 | | | | | $ | 169 | | |
Allowance for doubtful accounts
|
| | | | 1,649 | | | | | | 1,584 | | |
Charity deduction carryover
|
| | | | 1 | | | | | | — | | |
Deferred rent
|
| | | | 12 | | | | | | 29 | | |
Deferred revenue
|
| | | | 5,212 | | | | | | 5,771 | | |
Accrued expenses
|
| | | | 1,256 | | | | | | 904 | | |
Fixed assets
|
| | | | (1,588) | | | | | | (871) | | |
Intangible assets
|
| | | | (16,533) | | | | | | (17,777) | | |
Other
|
| | | | 384 | | | | | | 429 | | |
Inventory
|
| | | | 162 | | | | | | 51 | | |
State tax
|
| | | | 7 | | | | | | 7 | | |
Interest expense limitation
|
| | | | 12,328 | | | | | | 7,412 | | |
Net operating loss
|
| | | | 31,901 | | | | | | 26,302 | | |
Total non-current
|
| | | | 35,099 | | | | | | 24,010 | | |
Valuation allowance
|
| | | | (35,611) | | | | | | (24,338) | | |
Total net deferred tax liability
|
| | | $ | (512) | | | | | $ | (328) | | |
| | |
Year ended December 31,
|
| |||||||||
| | |
2021
|
| |
2020
|
| ||||||
Federal tax at statutory rate
|
| | | | 21.00% | | | | | | 21.00% | | |
State, net of federal benefit
|
| | | | 9.05 | | | | | | 9.08 | | |
Permanent differences
|
| | | | 0.74 | | | | | | (0.45) | | |
Prior year payable true ups
|
| | | | — | | | | | | 0.44 | | |
Adjustment to deferred through goodwill
|
| | | | — | | | | | | 25.33 | | |
Foreign rate differential
|
| | | | (0.23) | | | | | | (0.09) | | |
Change in valuation allowance
|
| | | | (31.29) | | | | | | (30.14) | | |
Other
|
| | | | (0.11) | | | | | | 0.02 | | |
Effective tax rate
|
| | | | (0.84)% | | | | | | 25.19% | | |
Year ending December 31,
|
| | | | | | |
2022
|
| | | $ | 895 | | |
2023
|
| | | | 480 | | |
2024
|
| | | | 400 | | |
2025
|
| | | | 188 | | |
2026
|
| | | | 92 | | |
Thereafter
|
| | | | 134 | | |
| | | | $ | 2,189 | | |
| | |
By Period
|
| |||||||||||||||||||||
Total
|
| |
Less than 1 Year
|
| |
1 to 3 Years
|
| |
3 to 5 Years
|
| |
More than 5 Years
|
| ||||||||||||
$7,258
|
| | | $ | 7,258 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | |
$7,258
|
| | | $ | 7,258 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | |
Particulars
|
| |
As of December 31,
|
| |||||||||
| | |
2021
|
| |
2020
|
| ||||||
Present value of obligation as at the beginning of the year
|
| | | $ | 383 | | | | | $ | 298 | | |
Interest cost
|
| | | | 25 | | | | | | 20 | | |
Acquisitions
|
| | | | — | | | | | | — | | |
Current service cost
|
| | | | 90 | | | | | | 83 | | |
Benefits paid
|
| | | | — | | | | | | — | | |
Actuarial gain on obligation
|
| | | | (46) | | | | | | (12) | | |
Effect of exchange rate changes
|
| | | | (8) | | | | | | (6) | | |
Present value of obligation as at the end of the year
|
| | |
$
|
444
|
| | | |
$
|
383
|
| |
Particulars
|
| |
As of December 31,
|
| |||||||||
| | |
2021
|
| |
2020
|
| ||||||
Present value of obligation as at the end of the period
|
| | | $ | 444 | | | | | $ | 383 | | |
Fair value of plan assets as at the end of the period
|
| | | | — | | | | | | — | | |
Funded status / (unfunded status)
|
| | | | (444) | | | | | | (383) | | |
Excess of actual over estimated
|
| | | | — | | | | | | — | | |
Unrecognized actuarial (gains)/losses
|
| | | | — | | | | | | — | | |
Net asset/(liability)recognized in consolidated balance sheet
|
| | | $ | (444) | | | | | $ | (383) | | |
Current portion
|
| | | | 12 | | | | | | 29 | | |
Non-current portion
|
| | | | 432 | | | | | | 354 | | |
| | |
As of December 31,
|
| |||||||||
| | |
2021
|
| |
2020
|
| ||||||
Accumulated benefit obligation
|
| | | $ | 168 | | | | | $ | 139 | | |
Particulars
|
| |
Year ended December 31,
|
| |||||||||
| | |
2021
|
| |
2020
|
| ||||||
Current service cost
|
| | | $ | 90 | | | | | $ | 83 | | |
Interest cost
|
| | | | 25 | | | | | | 20 | | |
Net actuarial gain recognized in the period
|
| | | | (46) | | | | | | (12) | | |
Expenses recognized in the consolidated statement of operations
|
| | | $ | 69 | | | | | $ | 91 | | |
Particulars
|
| |
Year ended December 31,
|
| |||||||||
| | |
2021
|
| |
2020
|
| ||||||
Actuarial (gain) / loss on arising from change in financial assumption
|
| | | $ | (34) | | | | | $ | 30 | | |
Actuarial gain on arising from experience adjustment
|
| | | | (12) | | | | | | (42) | | |
Total Actuarial gain on obligation
|
| | | $ | (46) | | | | | $ | (12) | | |
Particulars
|
| |
Year ended December 31,
|
| |||||||||
| | |
2021
|
| |
2021
|
| ||||||
Discount rate
|
| | | | 7.06% | | | | | | 6.55% | | |
Rate of compensation increase
|
| | | | 7.00% | | | | | | 7.00% | | |
December 31:
|
| | | | | | |
2022
|
| | | $ | 18 | | |
2023
|
| | | | 31 | | |
2024
|
| | | | 31 | | |
2025
|
| | | | 54 | | |
2026
|
| | | | 54 | | |
2027 – 2031
|
| | | | 364 | | |
| | | | $ | 552 | | |
| | |
Year ended December 31,
|
| |||||||||
Transactions with Related Parties
|
| |
2021
|
| |
2020
|
| ||||||
Offshore IT, sales support and other services from | | | | | | | | | | | | | |
Metaminds Software
|
| | | | 90 | | | | | | 428 | | |
Metaminds Technologies
|
| | | | 230 | | | | | | 243 | | |
Metaminds Global
|
| | | | 208 | | | | | | 720 | | |
Offshore software development services from | | | | | | | | | | | | | |
Metaminds Software
|
| | | | 362 | | | | | | 1,230 | | |
Metaminds Technologies
|
| | | | 919 | | | | | | 374 | | |
Metaminds Global
|
| | | | 831 | | | | | | 1,036 | | |
Repayment – Note to Mondee Group LLC(e)
|
| | | | — | | | | | | 5,034 | | |
Interest Income from Mondee Group Loan(b)
|
| | | | 505 | | | | | | 496 | | |
Repayment – Note to LBF Travel Inc.(d)
|
| | | | — | | | | | | 1,750 | | |
Service fee from Mondee Group LLC(a)
|
| | | | 1,223 | | | | | | — | | |
Rent expense – from Mike Melham(f)
|
| | | | 86 | | | | | | 86 | | |
| | |
Year ended December 31, 2021
|
| |||||||||||||||
| | |
Travel Marketplace
|
| |
SAAS Platform
|
| |
Total
|
| |||||||||
Third-party revenue
|
| | | $ | 92,038 | | | | | $ | 1,156 | | | | | $ | 93,194 | | |
Intersegment revenue
|
| | | | — | | | | | | — | | | | | | — | | |
Revenue
|
| | | $ | 92,038 | | | | | $ | 1,156 | | | | | $ | 93,194 | | |
Adjusted EBITDA
|
| | | $ | (3,745) | | | | | $ | (1,710) | | | | | $ | (5,455) | | |
Depreciation and amortization
|
| | | | (12,296) | | | | | | (565) | | | | | | (12,861) | | |
Stock-based compensation
|
| | | | (3,936) | | | | | | — | | | | | | (3,936) | | |
Operating loss
|
| | | $ | (19,977) | | | | | $ | (2,275) | | | | | $ | (22,252) | | |
Other expense, net
|
| | | | | | | | | | | | | | | | (16,330) | | |
Loss before income taxes
|
| | | | | | | | | | | | | | | | (38,582) | | |
Provision for income taxes
|
| | | | | | | | | | | | | | | | (323) | | |
Net loss
|
| | | | | | | | | | | | | | | $ | (38,905) | | |
| | |
Year ended December 31, 2020
|
| |||||||||||||||
| | |
Travel Marketplace
|
| |
SAAS Platform
|
| |
Total
|
| |||||||||
Third-party revenue
|
| | | $ | 65,057 | | | | | $ | 739 | | | | | $ | 65,796 | | |
Intersegment revenue
|
| | | | — | | | | | | — | | | | | | — | | |
Revenue
|
| | | $ | 65,057 | | | | | $ | 739 | | | | | $ | 65,796 | | |
Adjusted EBITDA
|
| | |
$
|
(23,529)
|
| | | | $ | (899) | | | | | $ | (24,428) | | |
Depreciation and amortization
|
| | | | (11,235) | | | | | | (179) | | | | | | (11,414) | | |
Stock-based compensation
|
| | | | (15) | | | | | | — | | | | | | (15) | | |
Operating loss
|
| | | $ | (34,779) | | | | | $ | (1,078) | | | | | $ | (35,857) | | |
Other expense, net
|
| | | | | | | | | | | | | | | | (19,919) | | |
Loss before income taxes
|
| | | | | | | | | | | | | | | | (55,776) | | |
Benefit from income taxes
|
| | | | | | | | | | | | | | | | 14,042 | | |
Net loss
|
| | | | | | | | | | | | | | | $ | (41,734) | | |
| | |
Year ended December 31,
|
| |||||||||
| | |
2021
|
| |
2020
|
| ||||||
United States
|
| | | $ | 91,432 | | | | | $ | 64,156 | | |
International
|
| | | | 1,762 | | | | | | 1,640 | | |
| | | | $ | 93,194 | | | | | $ | 65,796 | | |
| | |
2021 Grants
|
|
Expected term (in years)
|
| |
0 – 2.5
|
|
Risk-free interest rate
|
| |
0.81% – 1.26%
|
|
Expected volatility
|
| |
50.92% – 53.85%
|
|
Expected dividend rate
|
| |
0%
|
|
Weighted average contractual life
|
| |
0 – 2.5
|
|
| | |
2018, 2017
and 2016 Grants |
|
Expected term (in years)
|
| |
0 – 2.5
|
|
Risk-free interest rate
|
| |
2.9%
|
|
Expected volatility
|
| |
26.0%
|
|
Expected dividend rate
|
| |
0%
|
|
Weighted average contractual life
|
| |
0 – 2.5
|
|
| | |
Number of Class D
Incentive Units Outstanding |
| |
Weighted average
grant date fair value of units |
| |
Weighted average
remaining contractual life (Years) |
| |
Weighted
average exercise price |
| ||||||||||||
Unvested – December 31, 2019
|
| | | | 6,136,479 | | | | | $ | 0.003 | | | | | | 0.84 | | | | | $ | 0.01 | | |
Granted
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Vested
|
| | | | (5,741,810) | | | | | | 0.003 | | | | | | — | | | | | | 0.01 | | |
Forfeited or canceled
|
| | | | — | | | | | | — | | | | | | — | | | | | | 0.01 | | |
Unvested – December 31, 2020
|
| | | | 394,669 | | | | | | 0.003 | | | | | | 0.67 | | | | | | 0.01 | | |
Granted
|
| | | | 42,288,769 | | | | | | 0.12 | | | | | | — | | | | | | 0.07 | | |
Vested
|
| | | | (29,036,941) | | | | | | 0.13 | | | | | | — | | | | | | 0.01 | | |
Forfeited or canceled
|
| | | | (3,368,011) | | | | | | 0.002 | | | | | | — | | | | | | 0.71 | | |
Unvested – December 31, 2021
|
| | | | 10,278,486 | | | | | $ | 0.13 | | | | | | 2 | | | | | $ | 0.03 | | |
| | |
Year ended December 31,
|
| |||||||||
| | |
2021
|
| |
2020
|
| ||||||
Personnel expense
|
| | | $ | 3,920 | | | | | $ | 15 | | |
Sales and other expenses
|
| | | | 16 | | | | | | — | | |
| | | | $ | 3,936 | | | | | $ | 15 | | |
| | |
Amount
|
| |||
SEC registration fee
|
| | | $ | 87,658.05 | | |
Accounting fees and expenses
|
| | | $ | 50,000 | | |
Legal fees and expenses
|
| | | $ | 120,000 | | |
Financial printing and miscellaneous expenses
|
| | | $ | 65,000 | | |
Total
|
| | | $ | 322,658.05 | | |
|
Exhibit
No. |
| | | | |
Incorporated by reference
|
| |||||||||||||
|
Description
|
| |
Form
|
| |
File
No. |
| |
Exhibit
No. |
| |
Filing Date
|
| |||||||
| | | 2 | .1 | | | | | |
8-K
|
| |
001-39943
|
| |
2.1
|
| |
December 20, 2021
|
| |
| | | 3 | .1 | | | | | |
8-K
|
| |
001-39943
|
| |
3.1
|
| | July 20, 2022 | | |
| | | 3 | .2 | | | | | |
8-K
|
| |
001-39943
|
| |
3.2
|
| | July 20, 2022 | | |
| | | 3 | .3 | | | | | |
8-K
|
| |
001-39943
|
| |
3.1
|
| |
September 30, 2022
|
| |
| | | 4 | .1 | | | | | |
S-4
|
| |
333-263727
|
| |
4.1
|
| | March 21, 2022 | | |
| | | 4 | .2 | | | | | |
8-K
|
| |
001-39943
|
| |
4.1
|
| | July 20, 2022 | | |
| | | 4 | .3 | | | | | |
8-K
|
| |
001-39943
|
| |
4.2
|
| | July 20, 2022 | | |
| | | 4 | .6 | | | | | |
8-K
|
| |
001-39943
|
| |
4.3
|
| | July 20, 2022 | | |
| | | 5 | .1** | | | | | |
S-1-A
|
| |
333-266277
|
| |
5.1
|
| | September 7, 2022 | | |
| | | 10 | .1 | | | | | |
S-4
|
| |
333-263727
|
| |
Annex F
|
| | March 21, 2022 | | |
| | | 10 | .2 | | | | | |
S-4
|
| |
333-263727
|
| |
10.2
|
| | March 21, 2022 | | |
| | | 10 | .3 | | | | | |
S-4
|
| |
333-263727
|
| |
10.3
|
| | March 21, 2022 | | |
| | | 10 | .4# | | | | | |
S-4
|
| |
333-263727
|
| |
Annex D
|
| | March 21, 2022 | | |
| | | 10 | .5# | | | | | |
8-K
|
| |
001-39943
|
| |
10.8
|
| | July 20, 2022 | | |
| | | 10 | .6# | | | | | |
S-4
|
| |
333-263727
|
| |
10.6
|
| | March 21, 2022 | | |
| | | 10 | .7# | | | | | |
S-4
|
| |
333-263727
|
| |
10.7
|
| | March 21, 2022 | |
|
Exhibit
No. |
| | | | |
Incorporated by reference
|
| |||||||||||||
|
Description
|
| |
Form
|
| |
File
No. |
| |
Exhibit
No. |
| |
Filing Date
|
| |||||||
| | | 10 | .8 | | | | | |
8-K
|
| |
001-39943
|
| |
10.3
|
| | July 20, 2022 | | |
| | | 10 | .9# | | | | | |
8-K
|
| |
001-39943
|
| |
10.5
|
| |
December 20, 2021
|
| |
| | | 10 | .10 | | | | | |
S-4
|
| |
333-263727
|
| |
10.11
|
| | March 21, 2022 | | |
| | | 10 | .11 | | | | | |
S-4
|
| |
333-263727
|
| |
10.13
|
| | March 21, 2022 | | |
| | | 10 | .12 | | | | | |
S-4
|
| |
333-263727
|
| |
10.14
|
| | March 21, 2022 | | |
| | | 10 | .13 | | | |
Amended and Restated
Securityholders Agreement, by and among Mondee Holdings, LLC, Mondee Group, LLC, Vajid Jafri, Prasad Gundumogula, Ramesh Punwami, Timothy Turner, Jeffrey Snetiker, Surjit Babra and any other executive employee of the Company or its Subsidiaries, who, at any time acquires securities of the Company and each of the Other Securityholders, dated as of May 1, 2020. |
| |
S-4
|
| |
333-263727
|
| |
10.17
|
| | March 21, 2022 | |
| | | 10 | .14 | | | | | |
S-4
|
| |
333-263727
|
| |
10.23
|
| | March 21, 2022 | | |
| | | 10 | .15 | | | | | |
S-4
|
| |
333-263727
|
| |
10.28
|
| | March 21, 2022 | | |
| | | 10 | .16 | | | | | |
S-4
|
| |
333-263727
|
| |
10.29
|
| | March 21, 2022 | |
|
Exhibit
No. |
| | | | |
Incorporated by reference
|
| |||||||||||||
|
Description
|
| |
Form
|
| |
File
No. |
| |
Exhibit
No. |
| |
Filing Date
|
| |||||||
| | | 10 | .17 | | | | | |
8-K
|
| |
001-39943
|
| |
10.4
|
| | July 20, 2022 | | |
| | | 10 | .18# | | | | | |
8-K
|
| |
001-39943
|
| |
10.13
|
| | July 20, 2022 | | |
| | | 10 | .17# | | | | | |
S-4-A
|
| |
333-263727
|
| |
10.44
|
| | May 20, 2022 | | |
| | | 10 | .18# | | | | | |
S-4-A
|
| |
333-263727
|
| |
10.45
|
| | May 20, 2022 | | |
| | | 10 | .19# | | | | | |
S-4-A
|
| |
333-263727
|
| |
10.46
|
| | May 20, 2022 | | |
| | | 10 | .20# | | | | | |
S-4-A
|
| |
333-263727
|
| |
10.47
|
| | May 20, 2022 | | |
| | | 10 | .21#** | | | | | |
S-1-A
|
| |
333-266277
|
| |
10.21
|
| | September 7, 2022 | | |
| | | 10 | .22 | | | | | |
8-K
|
| |
001-39943
|
| |
10.1
|
| |
September 30, 2022
|
| |
| | | 10 | .23 | | | | | |
8-K
|
| |
001-39943
|
| |
10.2
|
| |
September 30, 2022
|
| |
| | | 10 | .24 | | | | | |
8-K
|
| |
001-39943
|
| |
10.3
|
| |
September 30, 2022
|
| |
| | | 21 | .1 | | | | | |
8-K
|
| |
001-39943
|
| |
21.1
|
| | July 20, 2022 | | |
| | | 23 | .1* | | | | | | | | | | | | | | | | | |
| | | 23 | .2* | | | | | | | | | | | | | | | | | |
| | | 23 | .3** | | | | | |
S-1-A
|
| |
333-266277
|
| |
23.3
|
| | September 7, 2022 | | |
| | | 24 | .1** | | | | | |
S-1-A
|
| |
333-266277
|
| |
24.1
|
| | July 22, 2022 | | |
| | | 101 | .INS** | | | |
Inline XBRL Instance Document (the
instance document does not appear in the Interactive Data File because iXBRL tags are embedded within the Inline XBRL document). |
| |
S-1/A
|
| |
333-266277
|
| | | | | September 7, 2022 | |
| | | 101 | .CAL** | | | | Inline XBRL Taxonomy Extension Calculation Linkbase Document. | | |
S-1/A
|
| |
333-266277
|
| | | | | September 7, 2022 | |
| | | 101 | .SCH** | | | | Inline XBRL Taxonomy Extension Schema Document. | | |
S-1/A
|
| |
333-266277
|
| | | | | September 7, 2022 | |
| | | 101 | .DEF** | | | | Inline XBRL Taxonomy Extension Definition Linkbase Document. | | |
S-1/A
|
| |
333-266277
|
| | | | | September 7, 2022 | |
| | | 101 | .LAB** | | | | Inline XBRL Taxonomy Extension Label Linkbase Document. | | |
S-1/A
|
| |
333-266277
|
| | | | | September 7, 2022 | |
| | | 101 | .PRE** | | | | Inline XBRL Taxonomy Extension Presentation Linkbase Document. | | |
S-1/A
|
| |
333-266277
|
| | | | | September 7, 2022 | |
|
Exhibit
No. |
| | | | |
Incorporated by reference
|
| |||||||||||||
|
Description
|
| |
Form
|
| |
File
No. |
| |
Exhibit
No. |
| |
Filing Date
|
| |||||||
| | | 104 | ** | | | | Cover Page Interactive Data File, formatted in Inline XBRL (included within the Exhibit 101 attachments). | | |
S-1/A
|
| |
333-266277
|
| | | | | September 7, 2022 | |
| | | 107 | ** | | | | | |
S-1
|
| |
333-266277
|
| |
107
|
| | July 22, 2022 | |
|
Signature
|
| |
Title
|
| |
Date
|
|
|
/s/ Prasad Gundumogula
Prasad Gundumogula
|
| |
Chief Executive Officer and Director
(Principal Executive Officer) |
| |
October 3, 2022
|
|
|
*
Dan Figenshu
|
| |
Chief Financial Officer
(Principal Financial and Accounting Officer) |
| |
October 3, 2022
|
|
|
*
Orestes Fintiklis
|
| | Director | | |
October 3, 2022
|
|
|
*
Asi Ginio
|
| | Director | | |
October 3, 2022
|
|
|
*
Mona Aboelnaga Kanaan
|
| | Director | | |
October 3, 2022
|
|
|
*
Roopa Purushothaman
|
| | Director | | |
October 3, 2022
|
|
|
*
Noor Sweid
|
| | Director | | |
October 3, 2022
|
|
|
*
Pradeep Udhas
|
| | Director | | |
October 3, 2022
|
|
|
*By:
/s/ Prasad Gundumogula
Prasad Gundumogula
Attorney-in-Fact |
| | | | | | |
Exhibit 23.1
Independent Registered Public Accounting Firm’s Consent
We consent to the inclusion in this Registration Statement of Mondee Holdings, Inc. (formerly ITHAX Acquisition Corp.) on Amendment No. 4 to Form S-1 [FILE NO. 333-266277] of our report dated March 10, 2022 with respect to our audits of the consolidated financial statements of ITHAX Acquisition Corp. as of December 31, 2021 and 2020 and for the year ended December 31, 2021 and for the period from October 2, 2020 (inception) through December 31, 2020, which report appears in the Prospectus, which is part of this Registration Statement. We also consent to the reference to our Firm under the heading “Experts” in such Prospectus.
/s/ Marcum llp |
Marcum llp
Boston, MA
September 30, 2022
Exhibit 23.2
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
We hereby consent to the use in this Registration Statement on Amendment No. 4 to Form S-1 (Registration No. 333-266277) of Mondee Holdings, Inc. (formerly ITHAX Acquisition Corp.), of our audit report dated March 19, 2022, relating to the consolidated financial statements of Mondee Holdings II, Inc., and subsidiaries as of and for the years ended December 31, 2021 and 2020. We also consent to the reference to us under the heading “Experts” in such Registration Statement.
/s/ KNAV P.A. |
KNAV P.A.
Atlanta, Georgia
September 30, 2022