Apr. 6 at 9:50 AM
$MOND Tabhi acquires Mondee out of Chapter 11 Restructuring and Boosts Liquidity and Capital Structure
Mondee HoldingsInc.announces its acquisition by Tabhi,and exit from Chapter 11 restructuring.Tabhi acquired substantially all the assets of Mondee Holdings, Inc.and strengthened its balance sheet by investing additional equity,significantly reducing debt and other obligations.
Tabhi ownership includes affiliates of TCW Asset Management Company LLC(TCW),Morgan Stanley Investment Management (MSIM),and Prasad Gundumogula, the Company’s CoFounder and Chairman. With a substantial personal cash investment,Mr. Gundumogula now holds a majority equity stake and has stepped in as the company’s CEO.TCW is also the Administrative Agent on a new credit facility that includes MSIM and Wingspire Capital LLC.The company is on stronger footing as we cut debt roughly in half, raised new cash equity, and have partnered with leading financial institution said Mr. Gundumogula.Now operating as Tabhi