ITHAX Acquisition, a blank check company formed by Ithaca Capital Partners and AXIA Ventures Group targeting the leisure industry, raised $210 million by offering 21 million units at $10. The company offered 3.5 million more units than anticipated. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
The company is led by CEO and Chairman Orestes Fintiklis, founder and Managing Partner of private equity real estate investment management company Ithaca Capital Partners, and CFO and Director Dimitrios Athanasopoulos, who is a Founding Partner and Group Managing Director of AXIA Ventures Group. ITHAX Acquisition plans to target businesses in the leisure, hospitality, travel, and related services sectors with enterprise values in excess of $600 million.
ITHAX Acquisition plans to list on the Nasdaq under the symbol ITHXU. Cantor Fitzgerald acted as a lead manager on the deal.
