AUSTIN, Texas, Dec. 01, 2024 (GLOBE NEWSWIRE) — Mondee Holdings, Inc. (Nasdaq: MOND) (Mondee or the Firm), a number one journey market and synthetic intelligence (AI) know-how firm, introduced as we speak that the Firm obtained a letter from the Itemizing {Qualifications} Division (the Employees) of The Nasdaq Inventory Market LLC (Nasdaq) issuing a Employees dedication (the Employees Dedication) on November 27, 2024 after the Firm knowledgeable the Employees that it will not contest a delisting of its Frequent Inventory.
The Employees Dedication famous that primarily based on Employees’s evaluate and the Kind 8-Okay filed on November 26, 2024 (the Kind 8-Okay), they’ve decided to delist the Firm’s securities from The Nasdaq Inventory Market. The Kind 8-Okay acknowledged that, On November 25, 2024, the Firm’s Board of Administrators (the Board) decided that the Firm doesn’t plan to submit a plan to regain compliance with NASDAQ guidelines and doesn’t plan to attraction NASDAQ’s subsequent delisting of its Frequent Inventory from NASDAQ. The Firm’s referenced Kind 8-Okay was in response to Nasdaq’s authentic discover that the Firm didn’t adjust to Nasdaq’s submitting necessities for continued inclusion set forth in Itemizing Rule 5250(c)(1) as a result of it had not but filed its Kind 10-Q for the interval ended September 30, 2024.
Accordingly, the Firm’s securities can be delisted from The Nasdaq Inventory Market. Buying and selling of the Firm’s frequent inventory can be suspended on the opening of enterprise on December 6, 2024 and a Kind 25-NSE can be filed with the Securities and Change Fee (the SEC), which can take away the Firm’s securities from itemizing and registration on The Nasdaq Inventory Market.
This announcement is made in compliance with the Nasdaq Itemizing Rule 5810(b), which requires immediate disclosure of receipt of a notification of deficiency.
The delisting doesn’t impression the Firm’s enterprise operations. The Firm continues to help its prospects, companions, and suppliers.
About Mondee Holdings, Inc. and Subsidiaries
Established in 2011, Mondee is a number one journey market and synthetic intelligence (AI) know-how firm with its headquarters primarily based in Austin, Texas. The Firm operates 21 places of work globally throughout the US and Canada, Brazil, Mexico, India, and Greece. Mondee is driving change within the leisure and company journey sectors by way of its broad array of progressive options. Obtainable each as an app and thru the online, the Firm’s platform processes over 50 million day by day searches and generates a considerable transactional quantity yearly. Mondee Market consists of entry to Abhi, one of the vital highly effective and totally built-in AI journey planning assistants out there. Mondee’s community and market embody roughly 65,000 journey consultants, 500+ airways, and over a million accommodations and trip leases, 30,000 rental automobile pickup places, and 50+ cruise traces. The Firm additionally presents packaged options and ancillary choices that serve its world distribution. On July 19, 2022, Mondee grew to become publicly traded on the Nasdaq World Market below the ticker image MOND. For additional data, go to: www.mondee.com.
Ahead-Trying Statements:
This press launch comprises forward-looking statements throughout the that means of the Non-public Securities Litigation Reform Act of 1995, as amended. Ahead-looking statements might be recognized by phrases reminiscent of: imagine, might, might, anticipate, intend, potential, plan, will and comparable references to future durations. Examples of forward-looking statements embody, amongst others, statements we make relating to the Firm’s future progress, efficiency, enterprise prospects and alternatives, methods, expectations, future plans and intentions or different future occasions. Such forward-looking statements are topic to dangers, uncertainties, and different elements, which might trigger precise outcomes to vary materially from these expressed or implied by such forward-looking statements.
Administration believes that these forward-looking statements are affordable as and when made. Nonetheless, the Firm cautions you that these forward-looking statements are topic to dangers and uncertainties, most of that are troublesome to foretell and plenty of of that are past the management of the Firm. Elements that will trigger precise outcomes to vary materially from present expectations embody, however will not be restricted to, the power to implement enterprise plans and forecasts, the result of any authorized proceedings that could be instituted in opposition to the Firm or others and any definitive agreements with respect thereto, the power of the Firm to develop and handle progress profitably, retain administration and key staff, and keep relationships with our distribution community and suppliers, the power of the Firm to keep up compliance with Nasdaq’s itemizing requirements, the anticipated modifications to the Firm’s capital construction, and different dangers and uncertainties set forth within the sections entitled Danger Elements and Cautionary Observe Relating to Ahead-Trying Statements within the Firm’s Annual Report on Kind 10-Okay for the 12 months ended December 31, 2023 and Quarterly Report on Kind 10-Q for the three months ended June 30, 2024 filed with the U.S. Securities and Change Fee (the SEC), and within the Firm’s subsequent filings with the SEC. There could also be extra dangers that the Firm doesn’t presently know of or that the Firm at the moment believes are immaterial that might additionally trigger precise outcomes to vary from these contained within the forward-looking statements.
Nothing on this press launch ought to be thought to be a illustration by any individual that the forward-looking statements set forth herein can be achieved or that any of the contemplated outcomes of such forward-looking statements can be achieved. In gentle of the numerous uncertainties in these forward-looking statements, you shouldn’t depend upon forward-looking statements as predictions of future occasions. Besides as required by legislation, Mondee undertakes no obligation to replace publicly any forward-looking statements for any purpose.
For Additional Info, Contact:
Public Relations
pr@mondee.com
Investor Relations
ir@mondee.com
Supply: Mondee Holdings, Inc.
