“We are Astrea, not Astra”
Clarification sent to shareholders in advance of 3-way merger in between Astrea, HotelPlanner.com and Reservations.com
WHO realized that a rocket incident would have an impact on the three-way business enterprise mix of Astrea Acquisition Corp with HotelPlanner.com and Reservations.com which has been scheduled for a shareholders vote on February 15.
The incident, in which 4 NASA-funded satellites were being lost on their way to room soon after launching atop a rocket built by Astra Area, a publicly-traded rocket startup centered in California, has led to Astrea issuing a press launch right now to explain the confusion.
In its press release, Astrea Acquisition Corp (NASDAQ: ASAXU), the publicly-traded SPAC (special goal acquisition business), clarified that it is “not the very same enterprise as Astra Place Inc (NASDAQ: ASTR), which experienced some unfortunate press this week”.
It reminded stockholders to think about the beforehand announced proposed business enterprise combination of Astrea with HotelPlanner.com, a major vacation technologies platform driven by proprietary artificial intelligence, and Reservations.com, a leading on the internet journey agency.
The 3 providers had declared their options to merge in August 2021, paving the way for a SPAC-led general public listing on NASDAQ less than the new ticker image “HOTP.” The combined company would maintain the HotelPlanner name following consummation of the merger.
The August push launch stated the merger transaction was to enable HotelPlanner to transform into a diversified lodge and function reserving platform with complementary profits streams, and supply the combined enterprise options to realise a number of profits and value synergies to push more rapidly expansion at scale.
The combined firm has a forecasted 2022 income of somewhere around $170 million and is anticipating a 3-yr profits CAGR (2020 to 2023) of somewhere around 42%. The transaction values the combined enterprise at an business price of $567.1 million, in addition extra consideration ought to it obtain sector-primarily based milestones.
The shareholders’ meeting will get place on February 15, 2022. On closing of the transaction, the mixed corporation is to be named “HotelPlanner Inc.” and its frequent inventory and warrants are anticipated to be traded underneath the ticker symbols “HOTP” and “HOTPW,” respectively.