Mondee Announces Acquisition of Nasdaq Delisting Notice Via Investing.com
AUSTIN, Texas, Dec. 01, 2024 (GLOBE NEWSWIRE) — Mondee Holdings, Inc. (Nasdaq: MOND) (Mondee or i Company), a leading travel market and artificial intelligence (AI) technology company, announced today that the Company has received a letter from the Department of Listing Qualifications (Personnel) of The Nasdaq Stock Market LLC (Nasdaq) issuing a personnel determination (Personnel Determination) on November 27, 2024 after The Company has informed the Employees that it will not object to the delisting of its Common Stock.
The Staff Decision noted that based on the Staff’s review and the Form 8-K filed on November 26, 2024 (Form 8-K), they have decided to delist the company from the Nasdaq Stock Market. The Form 8-K stated that, on November 25, 2024, the Company’s Board of Directors (the Board) determined that the Company does not plan to submit a plan to re-comply with NASDAQ rules and does not plan to appeal the NASDAQ delisting. Its Common Stock from NASDAQ. The Company’s referenced Form 8-K was in response to Nasdaq’s original notice that the Company did not comply with Nasdaq’s filing requirements for continuous filings set forth in Listing Rule 5250(c)(1) because it had not filed its Form 10-Q. for the period ending September 30, 2024.
Accordingly, the Company’s securities will be delisted from the Nasdaq Stock Market. The sale of the Company’s common stock will cease at the opening of business on December 6, 2024 and Form 25-NSE will be filed with the Securities and Exchange Commission (SEC), which will remove the Company’s securities from listing and registration on the Nasdaq Stock Market.
This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a notice of default.
Delisting does not affect the operation of the Company’s business. The company continues to support its customers, partners and suppliers.
About Mondee Holdings, Inc. and Subsidiaries
Founded in 2011, Mondee is a leading travel marketplace and artificial intelligence (AI) technology company headquartered in Austin, Texas. The company operates from 21 offices worldwide in the United States and Canada, Brazil, Mexico, India and Greece. Mondee is driving change in the leisure and travel industry with a wide range of innovative solutions. Available both as an app and on the web, the Company’s platform processes more than 50 million daily searches and generates a high volume of transactions annually. Mondee Marketplace includes access to Abhi, one of the most powerful and fully integrated AI travel planning assistants on the market. Mondee’s network and marketplace includes approximately 65,000 travel professionals, 500+ airlines, and over 1 million hotels and vacation rentals, 30,000 car rental locations, and 50+ cruise lines. The company also provides packaged solutions and complementary offerings that serve its global distribution. On July 19, 2022, Mondee was publicly traded on the Nasdaq Global Market under the ticker symbol MOND. For more information, visit: www.mondee.com.
Forward-looking statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements can be identified by words such as: believe, may, expect, intend, may, plan, will and similar references to future tenses. Examples of forward-looking statements include, among others, statements we make about the Company’s future growth, operations, business prospects and opportunities, strategies, expectations, future plans and objectives or other future events. Such forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements.
Management believes that these forward-looking statements are reasonable when made. However, the Company cautions that these forward-looking statements are subject to risks and uncertainties, many of which are difficult to predict and many of which are beyond the Company’s control. Factors that could cause actual results to differ materially from current expectations include, but are not limited to, the ability to implement business plans and forecasts, the outcome of any legal proceedings that may be instituted against the Company or others and any definitive agreements with respect. therefore, the Company’s ability to grow and manage profitable growth, retain management and key employees, and maintain relationships with our distribution network and suppliers, the Company’s ability to maintain compliance with the Nasdaq Listing Standards, anticipated changes in the Company’s capital structure, and other risks and uncertainties set forth in the sections entitled Risk Factors and Caution Regarding Forward-Looking Statements in the Company’s Annual Report on Form 10-K for the Year Ended on December 31. , 2023 and the Quarterly Report on Form 10-Q for the three months ended June 30, 2024 filed with the US Securities and Exchange Commission (SEC), and in the Company’s subsequent filings with the SEC. There may be additional risks that the Company is not currently aware of or that the Company currently believes are immaterial and that could cause actual results to differ materially from those contained in the forward-looking statements.
Nothing in this press release should be construed as a representation by any person that the forward-looking statements set forth herein will be realized or that any of the results contemplated by such forward-looking statements will be achieved. Because of the significant uncertainties in these forward-looking statements, you should not rely on the forward-looking statements as predictions of future events. Except as required by law, Mondee undertakes no obligation to publicly update any forward-looking statements for any reason.
For more information, Contact:
Public relations
pr@mondee.com
Investor relations
ir@mondee.com
Source: Mondee Holdings, Inc.
