Welcome to our dedicated page for TVAC news (Ticker: TVAC), a resource for investors and traders seeking the latest updates and insights on TVAC stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect TVAC's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of TVAC's position in the market.
Inspirato LLC announces the completion of its business combination with Thayer Ventures Acquisition Corporation, changing its name to Inspirato Incorporated. This move positions Inspirato to trade on Nasdaq under the ticker symbols 'ISPO' and 'ISPOW' starting February 14, 2022. Co-founders Brent and Brad Handler express excitement over expanding the company's luxury travel offerings and subscriber base. The business aims to innovate in the luxury travel subscription market, emphasizing customer satisfaction and growth opportunities.
Thayer Ventures Acquisition Corp. (NASDAQ: TVAC) announced the effectiveness of its registration statement regarding the proposed business combination with Inspirato LLC. Stockholders of record as of December 21, 2021, are eligible to vote on this merger at a special meeting scheduled for February 8, 2022. If approved, the merger will result in a new Nasdaq listing under the symbols ISPO and ISPOW. Due to COVID-19, the meeting will be held virtually, and shareholders are encouraged to vote via proxy.
Inspirato LLC reported record third-quarter revenue of $65 million, reflecting a 52% increase year-over-year and a 15% increase compared to Q3 2019. The company achieved an Annual Recurring Revenue (ARR) of $116 million, a 27% increase year-to-date. Active subscribers rose to 13,191, while total subscriptions hit 14,114, both records for the company. Despite the positive metrics, Inspirato reported a net loss of $9.1 million for the quarter. With a strong cash balance of $81.8 million, the company aims to exceed 2021 revenue expectations of $222 million.
Thayer Ventures, a venture capital firm dedicated to travel and transportation technology, convened over 150 industry leaders, investors, and innovators in Washington on October 25, 2021. The event highlighted the evolving landscape of these industries shaped by COVID-19, labor market changes, and technological advancements such as autonomous mobility. Keynote speaker Anthony Capuano, CEO of Marriott International, emphasized collaboration among industry players to address pressing technology needs. Thayer Ventures manages over $100 million in capital and supports numerous portfolio companies driving innovation.
Inspirato announced its plan to go public through a merger with Thayer Ventures Acquisition Corp. (TVAC), valuing the combined entity at an estimated enterprise value of $1.1 billion. The transaction aims to enhance growth in the luxury travel subscription market, with proceeds expected to reach $260 million for subscriber acquisition and technology advancements. Inspirato's platform includes over 385 luxury vacation homes and partnerships with 500 five-star hotels, targeting a luxury travel market projected to grow to $230 billion by 2025.
Thayer Ventures Acquisition Corporation (TVAC) announced the pricing of its initial public offering (IPO) of 15 million units at $10.00 per unit, totaling $150 million. The units will trade on Nasdaq under the symbol TVACU starting December 11, 2020. Each unit includes one share of Class A common stock and one-half of a redeemable warrant, with whole warrants allowing purchase at $11.50 per share. The offering is expected to close on December 15, 2020, subject to standard conditions. The underwriters have a 45-day option to buy an additional 2.25 million units.
