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]
Mondee Announces Receipt of Non-Compliance Letter from Nasdaq; Prasad Gundumogula takes leave of absence as CEO; Mondee Appoints Jesus Portillo as CEO