Mondee Takes Strategic Action to Position the Company for Long …

2 days ago · AUSTIN, Texas, Jan. 14, 2025 (GLOBE NEWSWIRE) - Mondee Holdings, Inc. (OTC: MOND) (“ Mondee ” or the “ Company ”), a leading travel marketplace and artificial …

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Mondee Holdings Secures Loans And Restructures Leadership

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Dec 23, 2024 · Mondee Holdings, Inc., a Delaware corporation, has entered into amendments to its financing agreement, securing additional loans totaling $15.5 million for general corporate …

businessinsider.com

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Mondee Holdings Inc. Files For Chapter 11 Protection With $358 …

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5 hours ago · Artificial intelligence-supported travel agency application maker Mondee Holdings Inc. filed for Chapter 11 protection in Delaware on Tuesday, revealing $358 million in debt and …

usaherald.com

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NJ-based Party City Taps New CEO After Bankruptcy - Bergen Record

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Aug 13, 2024 · Saw its debt reduced $1B through bankruptcy. As part of the bankruptcy plan, Party City saw its debt reduced by $1 billion and equity shares turned over to the retailer's …

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FAQs about Mondee Takes Strategic Action to Position the Company for Long … Coupon?

Will Mondee sell its assets to a new company?

The company is planning to sell its assets to a newly formed entity, owned by affiliates of TCW Asset Management Company LLC and Wingspire Capital LLC. According to the press release, if the bid is successful, Mondee’s co-founder Prasad Gundumogula will hold a majority stake in the company and will serve as the new company’s CEO. ...

Does Mondee have a restructuring support agreement?

Mondee has entered into a restructuring support agreement, which includes a term sheet for the sale to a newly formed entity. The entity is owned by, among others, affiliates of TCW Asset Management Company and Wingspire Capital. ...

What happened to Mondee holdings?

Travel technology company Mondee Holdings (MOND) announced on Tuesday a sale of "substantially" all of its assets as part of a restructuring arrangement. ...

Did Mondee file for bankruptcy?

It is the second major company to file for bankruptcy in the past week, following Party City, which filed early Saturday morning. Mondee, a leading travel marketplace and AI company, filed for Chapter 11 bankruptcy late Tuesday night and announced plans to sell a large portion of its assets to a newly formed company. ...

What happened to Mondee?

Mondee, a leading travel marketplace and AI company, filed for Chapter 11 bankruptcy late Tuesday night and announced plans to sell a large portion of its assets to a newly formed company. According to court documents, the company currently holds $363 million in assets and $359 million in debt owed to over 1,000 creditors. ...

Who owns Mondee?

The entity is owned by, among others, affiliates of TCW Asset Management Company and Wingspire Capital. If the sale is successful, Mondee Co-founder Prasad Gundumogula will have a 75% stake in the newly formed entity, and serve as its CEO. ...