ITHAX Acquisition Corp. (ITHX) Prices 21M Unit Upsized IPO at $10/Unit

January 28, 2021 6:18 AM EST

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ITHAX Acquisition Corp. (NASDAQ: ITHX), a newly incorporated blank check company, today announced the pricing of its upsized initial public offering of 21,000,000 units at a price of $10.00 per unit. The units are expected to be listed on the Nasdaq Capital Market (“Nasdaq”) and trade under the ticker symbol “ITHXU” beginning January 28, 2021.

The Company is sponsored by the founders of Ithaca Capital and AXIA Ventures and is led by Orestes Fintiklis, Chief Executive Officer and Chairman of the Board of Directors; and Dimitrios Athanasopoulos, Chief Financial Officer, Treasurer, and Director.

The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any industry, it currently intends to concentrate its search for a target business operating in the leisure, hospitality, travel, and related services sectors.

Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin trading separately, the Company expects that the Class A ordinary shares and redeemable warrants will be listed on the Nasdaq under the symbols “ITHX” and “ITHXW,” respectively.

Cantor Fitzgerald & Co. is serving as sole book-running manager. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,150,000 units at the initial public offering price to cover over-allotments, if any.

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