- Will Begin Trading Monday, February 14 on
Nasdaq as “ISPO” -
Inspirato LLC, the innovative luxury travel subscription brand,
announced today that it has completed its previously announced
business combination (the “Business Combination”) with Thayer
Ventures Acquisition Corporation (Nasdaq: TVAC, TVACU, TVACW)
(“Thayer Ventures”).
The Business Combination was approved at a special meeting of
Thayer Ventures’ shareholders on February 8, 2022 and the combined
company changed its name to Inspirato Incorporated (“Inspirato” or
the “Company”). Beginning on Monday, February 14, 2022, Inspirato’s
Class A common stock and warrants will trade on the Nasdaq Stock
Market under the ticker symbols “ISPO” and “ISPOW”,
respectively.
Inspirato is led by Brent Handler, Co-Founder and CEO, and Brad
Handler, Co-Founder and Executive Chairman. The Board of Directors
will initially consist of Brent Handler, Brad Handler, Michael
Armstrong, Eric Grosse, Ann Payne, and Scot Sellers.
“We are thrilled to begin the next chapter of growth for
Inspirato as a public company,” said Brent Handler, Co-Founder and
CEO of Inspirato. “With this milestone accomplished, we are well
positioned to accelerate our mission of revolutionizing luxury
travel with our proprietary next-generation travel subscription
platform. None of this would have been possible without our loyal
subscribers, investors, and employees, all of whom helped us grow
into the one-of-a-kind luxury brand we are today. As a public
company, we look forward to expanding our portfolio of luxury
vacation options and introducing the benefits of Inspirato to more
and more travelers throughout the world.”
“Inspirato continues to show all the hallmarks of a disruptive
leader in the luxury travel space,” said Chris Hemmeter, former
Co-CEO of Thayer Ventures Acquisition Corporation. “With its
network-effect subscription business model, relentless focus on
subscriber satisfaction, and growing supply-side momentum, it is
custom-designed to help travelers make the most of their valuable
time in a post-pandemic world. We look forward to supporting
Inspirato’s future growth.”
Advisors
UBS Securities LLC (“UBS”) acted as lead financial advisor and
capital markets advisor to Inspirato, and co-lead placement agent
for institutional investors to Thayer. Piper Sandler & Company
also acted as financial advisor to Inspirato. Cantor Fitzgerald
& Co. Inc., Northland Securities Inc., and Oppenheimer &
Co. Inc., also acted as capital market advisors to Inspirato.
Evercore Group L.L.C. (“Evercore”) acted as lead financial
advisor to Thayer and co-lead placement agent for institutional
investors to Thayer. Stifel, Nicolaus & Company, Incorporated
(“Stifel”) acted as lead capital markets advisor to Thayer and
placement agent for institutional investors to Thayer.
Wilson Sonsini Goodrich & Rosati acted as legal advisor to
Inspirato. Cooley acted as legal advisor to Thayer. Simpson Thacher
& Bartlett LLP acted as legal advisor to UBS, Evercore, and
Stifel in their role as placement agents for institutional
investors to Thayer.
About Inspirato, Inc.
Launched in 2011, Inspirato is the innovative luxury travel
subscription brand that provides affluent travelers access to a
managed and controlled portfolio of hand-selected vacation options,
delivered through a subscription model to ensure the service and
certainty that affluent customers demand. The Inspirato portfolio
includes branded luxury vacation homes available exclusively to
subscribers and guests, accommodations at five-star hotel and
resort partners, and custom travel experiences. In 2019, Inspirato
improved travel by introducing Inspirato Pass, the world’s first
luxury travel subscription that includes all nightly rates, taxes,
and fees. For more information, visit www.inspirato.com.
Forward-Looking Statements
This document may contain a number of “forward-looking
statements.” Forward-looking statements include information
concerning Inspirato’s possible or assumed future results of
operations, business strategies, debt levels, competitive position,
industry environment, potential growth opportunities and the
effects of regulation, including whether this Business Combination
will generate returns for shareholders. These forward-looking
statements are based on Inspirato’s management’s current
expectations, estimates, projections and beliefs, as well as a
number of assumptions concerning future events. When used in this
press release, the words “estimates,” “projected,” “expects,”
“anticipates,” “forecasts,” “plans,” “intends,” “believes,”
“seeks,” “may,” “will,” “should,” “future,” “propose” and
variations of these words or similar expressions (or the negative
versions of such words or expressions) are intended to identify
forward-looking statements.
These forward-looking statements are not guarantees of future
performance, conditions or results, and involve a number of known
and unknown risks, uncertainties, assumptions and other important
factors, many of which are outside Inspirato’s management’s
control, that could cause actual results to differ materially from
the results discussed in the forward-looking statements. These
risks, uncertainties, assumptions and other important factors
include, but are not limited to: (a) the risk of delays in
admitting Inspirato to trading on Nasdaq; (b) the ability to meet
Nasdaq’s listing standards; (c) costs related to listing on Nasdaq;
(d) the ability to implement business plans, forecasts, and other
expectations after the Business Combination, and identify and
realize additional opportunities; (e) the risk of downturns in the
travel and hospitality industry, including residual effects of the
COVID-19 pandemic; (f) the possibility that Inspirato may be
adversely affected by other economic, business and/or competitive
factors; (g) changes in applicable laws or regulations, including
legal or regulatory developments (such as changes in local laws
affecting hotels, apartments and other accommodation and regulatory
developments related to special purpose acquisition companies); (h)
the possibility that Inspirato may be adversely affected by other
economic, business and/or competitive factors and (i) other risks
and uncertainties identified in Thayer Ventures’ registration
statement on Form S-4 (File No. 333-259570) filed with the
Securities and Exchange Commission (the “SEC”), which was declared
effective on January 18, 2022, with respect to Inspirato’s
securities issued in connection with the Business Combination, and
in other documents filed or to be filed with the SEC by Inspirato
and available at the SEC’s website at www.sec.gov. The foregoing
list of factors is not exhaustive. You should carefully consider
the foregoing factors and the other risks and uncertainties
described in the “Risk Factors” section of the registration
statement on Form S-4 referenced above and other documents
previously filed by Thayer Ventures with the SEC. These filings
identify and address other important risks and uncertainties that
could cause actual events and results to differ materially from
those contained in the forward-looking statements. You are
cautioned not to place undue reliance upon any forward-looking
statements, which speak only as of the date made.
Except as required by law, Inspirato does not undertake any
obligation to update or revise its forward-looking statements to
reflect events or circumstances after the date of this release.
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version on businesswire.com: https://www.businesswire.com/news/home/20220211005620/en/
Media Relations: communications@inspirato.com Investor
Relations: ir@inspirato.com
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