Core Viewpoint - Mondee Holdings, Inc. has been acquired by Tabhi, exiting Chapter 11 restructuring, which has strengthened its financial position through significant debt reduction and new equity investment [1][2][3]. Group 1: Acquisition and Financial Restructuring - Tabhi acquired substantially all assets of Mondee Holdings, significantly reducing its debt and other obligations [1]. - Prasad Gundumogula, the Co-Founder and Chairman, made a substantial personal cash investment, resulting in him holding a majority equity stake and assuming the role of CEO [2]. - The company has cut its debt roughly in half and raised new cash equity, partnering with leading financial institutions [3]. Group 2: Company Operations and Market Position - Mondee operates as a leading travel marketplace and AI technology company, servicing over 125 million global travelers through a network of approximately 65,000 travel experts [3][4]. - The company processes over 50 million daily searches and has a marketplace that includes over 500 airlines, more than one million hotels, and 30,000 rental car pickup locations [4]. - Mondee is recognized for introducing cutting-edge AI in travel and aims to continue innovating within the industry [3].

Company Overview - Mondee Holdings Inc is a leading travel marketplace and AI technology company headquartered in Austin Texas with 21 global offices across the US Canada Brazil Mexico India and Greece [7] - The company operates a platform processing over 50 million daily searches and generating substantial annual transactional volume through its app and web interface [7] - Mondee Marketplace includes Abhi a powerful AI travel planning assistant and connects approximately 65000 travel experts 500+ airlines over 1 million hotels and vacation rentals 30000 rental car locations and 50+ cruise lines [7] Restructuring Process - The company has entered into a restructuring support agreement and initiated Chapter 11 proceedings to sell substantially all assets to a newly formed entity potentially owned by TCW Asset Management and Wingspire Capital affiliates [5][9] - Existing secured lenders have committed an additional $275 million in operating capital financing on top of the recent $215 million financing to support the company during Chapter 11 [9] - The company aims to emerge from Chapter 11 by the beginning of Q2 2025 maintaining normal operations and commitments to customers partners and employees throughout the process [2][9] Leadership and Advisory - Jesus Portillo is the newly appointed CEO emphasizing the company's sustainable capital structure and structured sales process to enhance leadership in the travel market [1] - Prasad Gundumogula is set to hold a 75% equity stake and serve as CEO of the newly formed entity if the TCW Bid succeeds [5] - Mondee is represented by Fried Frank Harris Shriver & Jacobson LLP and Young Conway Stargatt & Taylor LLP as legal counsel with M3 Advisory Partners and Piper Sandler & Co as restructuring advisors [3] Business Operations - The Chapter 11 proceedings do not impact Mondee entities in Brazil Mexico India and Canada [9] - The company continues to operate its business as usual supporting customers and partners without disruption during the court-supervised process [9]

Core Viewpoint - Mondee Holdings, Inc. will be delisted from The Nasdaq Stock Market after the Company decided not to contest the delisting [1][2][3] Company Summary - Mondee Holdings, Inc. is a travel marketplace and AI technology company headquartered in Austin, Texas, established in 2011 [5] - The Company operates 21 offices globally, including locations in the United States, Canada, Brazil, Mexico, India, and Greece [5] - Mondee's platform processes over 50 million daily searches and has a substantial annual transactional volume [5] - The marketplace includes access to approximately 65,000 travel experts, over 500 airlines, more than one million hotels and vacation rentals, 30,000 rental car pickup locations, and over 50 cruise lines [5] Delisting Details - The delisting is due to the Company's failure to comply with Nasdaq's filing requirements, specifically not filing its Form 10-Q for the period ended September 30, 2024 [2][3] - Trading of Mondee's common stock will be suspended on December 6, 2024, and a Form 25-NSE will be filed with the SEC to remove the Company's securities from listing [3] Compliance and Operations - The delisting does not impact the Company's business operations, and it continues to support its customers, partners, and suppliers [4]

Core Viewpoint - Mondee Holdings, Inc. has received a notification from Nasdaq regarding non-compliance with listing rules due to a delay in filing its Quarterly Report on Form 10-Q for the period ending September 30, 2024 [1][3] Group 1: Compliance and Regulatory Issues - The notification letter from Nasdaq was dated November 20, 2024, indicating that Mondee is not in compliance with Nasdaq Listing Rule 5250(c)(1) [1] - Mondee has 60 days from the notice date to submit a plan to regain compliance, with the possibility of being granted up to 180 days to achieve compliance if the plan is accepted [3] - The Company’s Board has decided not to submit a compliance plan or appeal Nasdaq's potential delisting of its Common Stock [4] Group 2: Leadership Changes - Prasad Gundumogula has taken a leave of absence as CEO effective November 25, 2024, but will remain a director and chairman of the Board [5] - Jesus Portillo has been appointed as the new CEO and will also continue his role as Chief Financial Officer [6] Group 3: Company Overview - Mondee Holdings, Inc. is a travel marketplace and AI technology company established in 2011, headquartered in Austin, Texas, with 21 offices globally [7] - The Company processes over 50 million daily searches and has a network that includes approximately 65,000 travel experts, over 500 airlines, and more than one million hotels and vacation rentals [7]

Core Viewpoint - Mondee Holdings, Inc. will hold a webcast to present its third quarter 2024 financial results on November 18, 2024, instead of the previously scheduled date of November 12, 2024 [1][2]. Group 1: Webcast Details - The audio webcast will take place at 5:30 a.m. (PT) / 7:30 a.m. (CT) / 8:30 a.m. (ET) on November 18, 2024 [2]. - The webcast can be accessed via the Mondee Investor Relations website, with a live dial-in option available for both domestic and international participants [2]. - A replay of the webcast will be available until November 25, 2024, at 11:59 p.m. ET [3]. Group 2: Company Overview - Mondee Holdings, Inc. is a leading travel marketplace and AI technology company, established in 2011 and headquartered in Austin, Texas [4]. - The company operates 21 offices globally, including locations in the United States, Canada, Brazil, Mexico, India, and Greece [4]. - Mondee's platform processes over 50 million daily searches and has a substantial annual transactional volume [4]. - The company's marketplace includes access to approximately 65,000 travel experts, over 500 airlines, more than one million hotels and vacation rentals, 30,000 rental car pickup locations, and over 50 cruise lines [4]. - Mondee became publicly traded on the Nasdaq Global Market under the ticker symbol MOND on July 19, 2022 [4].

Company Overview - Mondee Holdings, Inc. is a leading travel marketplace and artificial intelligence (AI) technology company headquartered in Austin, Texas, established in 2011 [4] - The company operates 21 offices globally across the United States, Canada, Brazil, Mexico, India, and Greece [4] - Mondee's platform processes over 50 million daily searches and generates substantial annual transactional volume [4] - The company offers access to approximately 65,000 travel experts, over 500 airlines, more than one million hotels and vacation rentals, 30,000 rental car pickup locations, and over 50 cruise lines [4] Financial Results Announcement - Mondee will hold a webcast to present its third quarter 2024 financial results for the period ended September 30, 2024, on November 12, 2024, instead of November 8, 2024 [1] - The audio webcast will take place at 5:30 a.m. (PT) / 7:30 a.m. (CT) / 8:30 a.m. (ET) [2] - A replay of the webcast will be available until November 19, 2024, at 11:59 p.m. ET [3]

Core Viewpoint - Mondee Holdings, Inc. is set to announce its third quarter 2024 financial results on November 8, 2024, highlighting its position as a leading travel marketplace and AI technology company [1][3] Company Overview - Mondee Holdings, Inc. was established in 2011 and is headquartered in Austin, Texas, operating 21 offices globally across the United States, Canada, Brazil, Mexico, India, and Greece [3] - The company processes over 50 million daily searches and has a substantial annual transactional volume [3] - Mondee's platform includes access to Abhi, a powerful AI travel planning assistant, and features a network of approximately 65,000 travel experts, over 500 airlines, more than one million hotels and vacation rentals, 30,000 rental car pickup locations, and over 50 cruise lines [3] - Mondee became publicly traded on the Nasdaq Global Market under the ticker symbol MOND on July 19, 2022 [3] Upcoming Events - The live audio webcast for the financial results will take place at 5:30 a.m. (PT) / 7:30 a.m. (CT) / 8:30 a.m. (ET) on November 8, 2024, and is expected to last approximately one hour [1] - A replay of the webcast will be available on Mondee's Investor Relations website until November 15, 2024, at 11:59 p.m. ET [2]

Core Points - Mondee Holdings, Inc. has extended the maturity date of its term loan to June 30, 2028, and the put option date for its preferred equity to December 31, 2028 [1][2] - The company secured a $15 million letter of credit from Morgan Stanley, which unlocks at least $20 million in additional working capital to support growth [1][2][3] Company Overview - Mondee is a leading travel marketplace and AI technology company, established in 2011, headquartered in Austin, Texas, with 22 global offices [4] - The company processes over 50 million daily searches and has a network that includes approximately 65,000 travel experts, over 500 airlines, and more than one million hotels and vacation rentals [4] - Mondee became publicly traded on the Nasdaq Global Market under the ticker symbol MOND on July 19, 2022 [4]

AUSTIN, Texas, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Mondee Holdings, Inc. (Nasdaq: MOND) ("Mondee" or the "Company"), a leading travel marketplace and artificial intelligence (AI) technology company, announced that it will hold its webcast on the second quarter 2024 financial results for the period ended June 30, 2024 and its anticipated new financing, on Wednesday, August 14, 2024. A release shall accompany the webcast. The Company is rescheduling the webcast as a result of an agreement on principle terms wit ...

AUSTIN, Texas, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Mondee Holdings, Inc. (Nasdaq: MOND) ("Mondee" or the "Company"), a leading travel marketplace and artificial intelligence (AI) technology company, announced that it will hold its webcast on the second quarter 2024 financial results for the period ended June 30, 2024 and its anticipated new financing, on Wednesday, August 14, 2024. A release shall accompany the webcast. The Company is rescheduling the webcast as a result of an agreement on principle terms wit ...