- Holisto’s advanced AI technology addresses the fragmented and complex travel booking market, providing consumers with a more affordable and personalized offering
- Since commercial product launch in Q2 2020, Holisto’s online booking platform has gained significant market acceptance
- Transaction enables Holisto to scale its customer acquisition and brand awareness strategy
Rishon Le’Zion, Israel and New York, New York, June 13, 2022 (GLOBE NEWSWIRE) — Holisto Ltd, a technology based online travel booking platform (“Holisto” or the “Company”), and Moringa Acquisition Corp (Nasdaq: MACA, “Moringa”), a special purpose acquisition company, today announced they have entered into a business combination agreement that would result in Holisto becoming publicly listed on the Nasdaq. The business combination provides for Holisto Ltd.’s expected pro forma equity value to be approximately $405 million. As described below and subject to certain limitations, the transaction provides Moringa’s non-redeeming public shareholders the opportunity to receive a pro rata portion of a bonus pool of up to an additional 1,725,000 shares at transaction close, which would result in merger consideration of between 1.15 and 1.6 Holisto ordinary shares for each such Moringa Class A ordinary share not redeemed. The exact ratio of merger consideration for non-redeeming shareholders will depend on the number of Moringa shares that are redeemed.
The closing of the transaction…
