Proceeds from the Preferred Financing will be used to fund Mondees M&A strategy, other growth opportunities and general corporate purposes.The proceeds from the Preferred Financing shall be paid in full without an Original Issuer Discount (OID), and will be puttable to the Company by the investors commencing on the fifth anniversary of the closing date, carrying an initial annual dividend of SOFR plus 7%, payable quarterly, which at the option of the Company can be paid in cash or payment in kind (PIK). The Preferred Financing also includes the issuance of 1.275 million warrants at an exercise price of $11.50.Having acquired 14 businesses in its 11-year history, Mondee has a track record of well calibrated and successfully integrated M&A transactions, opening up new products and markets, while at the same time delivering strong revenue and cost synergies, said Prasad Gundamogula, Mondees Chairman, CEO, Founder. They deliver a revolutionary technology platform of SaaS, mobile, and cloud products and services to a global customer base, processing over 50 million daily searches and multi-billion dollars of transactional volume yearly. The Company is connecting a network of 50,000+ leisure travel advisors and gig economy workers to 500+ airlines and over 1 million hotel and vacation rentals, packaged solutions and ancillary offerings. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, the ability to implement business plans, forecasts, and other expectations after the recently completed business combination between ITHAX Acquisition Corp. and Mondee Holdings II, Inc., the outcome of any legal proceedings that may be instituted against the Company or others and any definitive agreements with respect thereto, the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the Company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees, the ability to meet Nasdaqs listing standards, and other risks and uncertainties set forth in the sections entitled Risk Factors and Cautionary Note Regarding Forward-Looking Statements in the Companys registration statement on Form S-4 relating to the business combination declared effective by the U.S. Securities and Exchange Commission (the SEC) on June 27, 2022, the Companys Current Report on Form 8-K filed with the SEC on July 20, 2022, and in the Companys subsequent filings with the SEC.