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ITHAX Acquisition Corp. - ITHX

  • Commons

    $9.76

    -0.05%

    ITHX Vol: 911.0

  • Warrants

    $0.70

    -0.01%

    ITHXW Vol: 0.0

  • Units

    $10.00

    -0.08%

    ITHXU Vol: 3.3K

Average: 0
Rating Count: 0
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SPAC Stats

Market Cap: 241.3M
Average Volume: 11.6K
52W Range: $9.51 - $10.00
Weekly %: -0.20%
Monthly %: +0.10%
Inst Owners: 59

Info

Target: Searching
Days Since IPO: 303
Unit composition:
Each unit has an offering price of $10.00 and consists of one of our Class A ordinary shares and one-half of one redeemable warrant
Trust Size: 17500000.0M

Management

Officers and Directors Upon the effectiveness of the registration statement of which this prospectus forms a part, we expect that our board of directors will consist of five members. Holders of our founder shares will have the right to appoint all of our directors prior to consummation of our initial business combination and holders of our public shares will not have the right to vote on the appointment of directors during such time. These provisions of our amended and restated memorandum and articles of association may only be amended by a special resolution passed by at least 90% of our founder shares voting in a general meeting. Our board of directors is divided into three classes, with only one class of directors being elected in each year, and with each class (except for those directors appointed prior to our first annual meeting of shareholders) serving a 3-year term. Subject to any other special rights applicable to the shareholders, any vacancies on our board of directors may be filled by the affirmative vote of a majority of the directors present and voting at the meeting of our board or by a majority of the holders of our founder shares. - 100 - Our officers are elected by the board of directors and serve at the discretion of the board of directors, rather than for specific terms of office. Our board of directors is authorized to appoint persons to the offices set forth in our amended and restated memorandum and articles of association as it deems appropriate. Our amended and restated memorandum and articles of association provide that our officers may consist of a Chairman, Chief Executive Officer, President, Chief Financial Officer, Vice Presidents, Secretary, Assistant Secretaries, Treasurer and such other offices as may be determined by the board of directors. Director Independence Nasdaq listing standards require that a majority of our board of directors be independent. An “independent director” is defined generally as a person other than an officer or employee of the company or its subsidiaries or any other individual having a relationship which in the opinion of the company’s board of directors, would interfere with the director’s exercise of independent judgment in carrying out the responsibilities of a director. Our board of directors has determined that each of Messrs. Guimarães, Syllantavos, and Vir are “independent directors” as defined in the Nasdaq listing standards and applicable SEC rules. Our audit committee will be entirely composed of independent directors meeting Nasdaq’s additional requirements applicable to members of the audit committee. Our independent directors will have regularly scheduled meetings at which only independent directors are present. Officer and Director Compensation None of our officers or directors have received any cash compensation for services rendered to us. Our sponsor, officers and directors, or any of their respective affiliates, will be reimbursed for any bona-fide, documented out-of-pocket expenses incurred in connection with activities on our behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. In addition, we will reimburse our sponsor for office space, secretarial and administrative services provided to us in the amount of $10,000 per month, until the consummation of our initial business combination. Our audit committee will also review on a quarterly basis all payments that were made to our sponsor, officers, directors or our or their affiliates. After the completion of our initial business combination, directors or members of our management team who remain with us may be paid consulting, management or other fees from the combined company. All of these fees will be fully disclosed to shareholders, to the extent then known, in the tender offer materials or proxy solicitation materials furnished to our shareholders in connection with a proposed business combination. It is unlikely the amount of such compensation will be known at the time such materials are distributed, because the directors of the post-combination business will be responsible for determining officer and director compensation. Any compensation to be paid to our officers will be determined by a compensation committee constituted solely by independent directors. We do not intend to take any action to ensure that members of our management team maintain their positions with us after the consummation of our initial business combination, although it is possible that some or all of our officers and directors may negotiate employment or consulting arrangements to remain with us after the initial business combination. The existence or terms of any such employment or consulting arrangements to retain their positions with us may influence our management’s motivation in identifying or selecting a target business but we do not believe that the ability of our management to remain with us after the consummation of our initial business combination will be a determining factor in our decision to proceed with any potential business combination. We are not party to any agreements with our officers and directors that provide for benefits upon termination of employment. Committees of the Board of Directors Our board of directors will have two standing committees: an audit committee and a compensation committee. Subject to phase-in rules and a limited exception, the rules of Nasdaq and Rule 10A-3 of the Exchange Act require that the audit committee of a listed company be comprised solely of independent directors, and the rules of Nasdaq require that the compensation committee of a listed company be comprised solely of independent directors. - 101 - Audit Committee Prior to the consummation of this offering, we will establish an audit committee of the board of directors. Messrs. Guimarães, Syllantavos, and Vir will serve as members of our audit committee and Mr. Syllantavos will serve as the Chairman of the audit committee. Under the Nasdaq listing standards and applicable SEC rules, we are required to have at least three members of the audit committee, all of whom must be independent, subject to certain phase-in provisions. Each such person meets the independent director standard under Nasdaq listing standards and under Rule 10-A-3(b)(1) of the Exchange Act. Each member of the audit committee is financially literate and our board of directors has determined that Mr. Syllantavos qualifies as an “audit committee financial expert” as defined in applicable SEC rules. We will adopt an audit committee charter, which will detail the principal functions of the audit committee, including: ·the appointment, compensation, retention, replacement, and oversight of the work of the independent auditors and any other independent registered public accounting firm engaged by us; ·pre-approving all audit and non-audit services to be provided by the independent auditors or any other registered public accounting firm engaged by us, and establishing pre-approval policies and procedures; ·reviewing and discussing with the independent auditors all relationships the auditors have with us in order to evaluate their continued independence; ·setting clear hiring policies for employees or former employees of the independent auditors; ·setting clear policies for audit partner rotation in compliance with applicable laws and regulations; ·obtaining and reviewing a report, at least annually, from the independent auditors describing (i) the independent auditor’s internal quality-control procedures and (ii) any material issues raised by the most recent internal quality-control review, or peer review, of the audit firm, or by any inquiry or investigation by governmental or professional authorities, within, the preceding five years respecting one or more independent audits carried out by the firm and any steps taken to deal with such issues; ·reviewing and approving any related party transaction required to be disclosed pursuant to Item 404 of Regulation S-K promulgated by the SEC prior to us entering into such transaction; and ·reviewing with management, the independent auditors, and our legal advisors, as appropriate, any legal, regulatory or compliance matters, including any correspondence with regulators or government agencies and any employee complaints or published reports that raise material issues regarding our financial statements or accounting policies and any significant changes in accounting standards or rules promulgated by the Financial Accounting Standards Board, the SEC or other regulatory authorities. Compensation Committee Prior to the consummation of this offering, we will establish a compensation committee of the board of directors. Messrs. Guimarães and Vir, will serve as members of our compensation committee and Mr. Guimarães will serve as the chairman of the compensation committee. Under the Nasdaq listing standards and applicable SEC rules, we are required to have at least two members of the compensation committee, all of whom must be independent, subject to certain phase-in provisions. Each such person meets the independent director standard under Nasdaq listing standards applicable to members of the compensation committee. We will adopt a compensation committee charter, which will detail the principal functions of the compensation committee, including: ·reviewing and approving on an annual basis the corporate goals and objectives relevant to our Chief Executive Officer’s compensation (if any is paid by us), evaluating our Chief Executive Officer’s performance in light of such goals and objectives and determining and approving the remuneration (if any) of our Chief Executive Officer’s based on such evaluation; ·reviewing and approving the compensation of all of our other officers; ·reviewing our executive compensation policies and plans; ·implementing and administering our incentive compensation equity-based remuneration plans; - 102 - ·assisting management in complying with our proxy statement and annual report disclosure requirements; ·approving all special perquisites, special cash payments and other special compensation and benefit arrangements for our officers and employees; ·producing a report on executive compensation to be included in our annual proxy statement; and ·reviewing, evaluating and recommending changes, if appropriate, to the remuneration for directors. Notwithstanding the foregoing, as indicated above, other than reimbursement of expenses and as set forth below, no compensation of any kind, including finder’s, consulting or other similar fees, will be paid to any of our existing shareholders, officers, directors or any of their respective affiliates, prior to, or for any services they render in order to complete the consummation of a business combination although we may consider cash or other compensation to officers or advisors we may hire subsequent to this offering to be paid either prior to or in connection with our initial business combination. Accordingly, it is likely that prior to the consummation of an initial business combination, the compensation committee will only be responsible for the review and recommendation of any compensation arrangements to be entered into in connection with such initial business combination. The charter will also provide that the compensation committee may, in its sole discretion, retain or obtain the advice of a compensation consultant, legal counsel or other adviser and will be directly responsible for the appointment, compensation and oversight of the work of any such adviser. However, before engaging or receiving advice from a compensation consultant, external legal counsel or any other adviser, the compensation committee will consider the independence of each such adviser, including the factors required by Nasdaq and the SEC. Director Nominations We do not have a standing nominating committee though we intend to form a corporate governance and nominating committee as and when required to do so by law or Nasdaq rules. In accordance with Rule 5605 of the Nasdaq rules, a majority of the independent directors may recommend a director nominee for selection by the board of directors. The board of directors believes that the independent directors can satisfactorily carry out the responsibility of properly selecting or approving director nominees without the formation of a standing nominating committee. The directors who will participate in the consideration and recommendation of director nominees are Messrs. Guimarães, Syllantavos, and Vir. In accordance with Rule 5605 of the Nasdaq rules, all such directors are independent. As there is no standing nominating committee, we do not have a nominating committee charter in place. Prior to our initial business combination, the board of directors will also consider director candidates recommended for nomination by holders of our founder shares during such times as they are seeking proposed nominees to stand for election at an annual general meeting (or, if applicable, an extraordinary general meeting). Prior to our initial business combination, holders of our public shares will not have the right to recommend director candidates for nomination to our board. We have not formally established any specific, minimum qualifications that must be met or skills that are necessary for directors to possess. In general, in identifying and evaluating nominees for director, the board of directors considers educational background, diversity of professional experience, knowledge of our business, integrity, professional reputation, independence, wisdom, and the ability to represent the best interests of our shareholders. Compensation Committee Interlocks and Insider Participation None of our officers currently serves, and in the past year has not served, (i) as a member of the compensation committee or board of directors of another entity, one of whose executive officers served on our compensation committee, or (ii) as a member of the compensation committee of another entity, one of whose executive officers served on our board of directors. - 103 - Code of Ethics Prior to the effectiveness of the registration statement of which this prospectus is a part, we will have adopted a Code of Ethics applicable to our directors, officers and employees. We will file a copy of our form of Code of Ethics and our audit committee charter as exhibits to the registration statement. You will be able to review these documents by accessing our public filings at the SEC’s web site at www.sec.gov. In addition, a copy of the Code of Ethics will be provided without charge upon request from us. We intend to disclose any amendments to or waivers of certain provisions of our Code of Ethics in a Current Report on Form 8-K. See “Where You Can Find Additional Information.” Conflicts of Interest Under Cayman Islands law, officers and directors owe the following fiduciary duties: ·duty to act in good faith in what the director or officer believes to be in the best interests of the company as a whole; ·duty to exercise powers for the purposes for which those powers were conferred and not for a collateral purpose; ·directors should not improperly fetter the exercise of future discretion; ·duty not to put themselves in a position in which there is a conflict between their duty to the company and their personal interests; and ·duty to exercise independent judgment. In addition to the above, directors also owe a duty of care which is not fiduciary in nature. This duty has been defined as a requirement to act as a reasonably diligent person having both the general knowledge, skill and experience that may reasonably be expected of a person carrying out the same functions as are carried out by that director in relation to the company and the general knowledge skill and experience which that director has. As set out above, directors have a duty not to put themselves in a position of conflict and this includes a duty not to engage in self-dealing, or to otherwise benefit as a result of their position. However, in some instances what would otherwise be a breach of this duty can be forgiven and/or authorized in advance by the shareholders provided that there is full disclosure by the directors. This can be done by way of permission granted in the amended and restated memorandum and articles of association or alternatively by shareholder approval at general meetings. Each of our officers and directors presently has, and in the future any of our officers and directors may have additional, fiduciary or contractual obligations to other entities pursuant to which such officer or director is or will be required to present acquisition opportunities to such entity. Accordingly, subject to his or her fiduciary duties under Cayman Islands law, if any of our officers or directors becomes aware of an acquisition opportunity which is suitable for an entity to which he or she has then current fiduciary or contractual obligations, he or she will need to honor his or her fiduciary or contractual obligations to present such acquisition opportunity to such entity, and only present it to us if such entity rejects the opportunity. Our amended and restated memorandum and articles of association provide that, subject to his or her fiduciary duties under Cayman Islands law, no director or officer shall be disqualified or prevented from contracting with the company nor shall any contract or transaction entered into by or on behalf of the company in which any director shall have an interest be liable to be avoided. A director shall be at liberty to vote in respect of any contract or transaction in which he is interested provided that the nature of such interest shall be disclosed at or prior to its consideration or any vote thereon by the board of directors. We do not believe, however, that any fiduciary duties or contractual obligations of our officers or directors would materially undermine our ability to complete our business combination. Our officers and directors are not prohibited from becoming either a director or officer of any other special purpose acquisition company with a class of securities registered under the Exchange Act. - 104 - Potential investors should also be aware of the following other potential conflicts of interest: ·None of our officers or directors is required to commit his or her full time to our affairs and, accordingly, may have conflicts of interest in allocating his or her time among various business activities. ·In the course of their other business activities, our officers and directors may become aware of investment and business opportunities which may be appropriate for presentation to us as well as the other entities with which they are affiliated. Our management may have conflicts of interest in determining to which entity a particular business opportunity should be presented. For a complete description of our management’s other affiliations, see “Management— Directors and Officers.” ·Our sponsor, officers, and directors, directly or indirectly, hold their respective founder shares and private placement shares, as applicable, and may acquire public shares during or after this offering in connection with the completion of our initial business combination. Additionally, our sponsor, officers and directors have agreed to waive their redemption rights with respect to their founder shares and private placement shares if we fail to consummate our initial business combination within 24 months after the closing of this offering. If we do not complete our initial business combination within such applicable time period, the proceeds of the sale of the private placement units held in the trust account will be used to fund the redemption of

Holder Stats

1 0
% of Shares Held by All Insider 0.00%
% of Shares Held by Institutions 65.52%
% of Float Held by Institutions 65.52%
Number of Institutions Holding Shares 59

SEC Filings

Form Type Form Description Filing Date Document Link
8-K FORM 8-K 2021-11-19 https://www.sec.gov/Archives/edgar/data/1828852/000110465921141976/tm2132998d1_8k.htm
10-Q FORM 10-Q 2021-11-19 https://www.sec.gov/Archives/edgar/data/1828852/000141057821000347/ithxu-20210930x10q.htm
NT 10-Q FORM 12B-25 2021-11-15 https://www.sec.gov/Archives/edgar/data/1828852/000110465921139380/tm2133002d1_nt10q.htm
10-Q FORM 10-Q 2021-08-13 https://www.sec.gov/Archives/edgar/data/1828852/000110465921105090/ithxu-20210630x10q.htm
10-Q FORM 10-Q 2021-05-24 https://www.sec.gov/Archives/edgar/data/1828852/000110465921071371/ithxu-20210331x10q.htm
NT 10-Q NT 10-Q 2021-05-17 https://www.sec.gov/Archives/edgar/data/1828852/000110465921068040/tm2114949d2_nt10q.htm
8-K FORM 8-K 2021-03-18 https://www.sec.gov/Archives/edgar/data/1828852/000110465921038285/tm2110210d1_8k.htm
SC 13D SC 13D 2021-02-11 https://www.sec.gov/Archives/edgar/data/1828852/000110465921020646/tm216264d1_sc13d.htm
8-K FORM 8-K 2021-02-05 https://www.sec.gov/Archives/edgar/data/1828852/000110465921013018/tm215292d1_8k.htm
4 FORM 4 2021-02-03 https://www.sec.gov/Archives/edgar/data/1828852/000110465921011633/xslF345X03/tm215132d3_4.xml
4 FORM 4 2021-02-03 https://www.sec.gov/Archives/edgar/data/1828852/000110465921011630/xslF345X03/tm215132d2_4.xml
4 FORM 4 2021-02-03 https://www.sec.gov/Archives/edgar/data/1828852/000110465921011627/xslF345X03/tm215132d1_4.xml
8-K FORM 8-K 2021-02-01 https://www.sec.gov/Archives/edgar/data/1828852/000110465921010209/tm214650d1_8k.htm
424B4 424B4 2021-02-01 https://www.sec.gov/Archives/edgar/data/1828852/000110465921009629/tm2033399-5_424b4.htm
CERT 2021-01-28 https://www.sec.gov/Archives/edgar/data/1828852/000135445721000116/8A_Cert_ITHX.pdf
EFFECT 2021-01-27 https://www.sec.gov/Archives/edgar/data/1828852/999999999521000306/xslEFFECTX01/primary_doc.xml
S-1MEF FORM S-1MEF 2021-01-27 https://www.sec.gov/Archives/edgar/data/1828852/000110465921008344/tm214465d1_s1mef.htm
3 OWNERSHIP DOCUMENT 2021-01-27 https://www.sec.gov/Archives/edgar/data/1828852/000110465921008332/xslF345X02/tm214424-6_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-01-27 https://www.sec.gov/Archives/edgar/data/1828852/000110465921008331/xslF345X02/tm214424-5_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-01-27 https://www.sec.gov/Archives/edgar/data/1828852/000110465921008330/xslF345X02/tm214424-4_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-01-27 https://www.sec.gov/Archives/edgar/data/1828852/000110465921008329/xslF345X02/tm214424-3_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-01-27 https://www.sec.gov/Archives/edgar/data/1828852/000110465921008327/xslF345X02/tm214424d2_3.xml
3 OWNERSHIP DOCUMENT 2021-01-27 https://www.sec.gov/Archives/edgar/data/1828852/000110465921008326/xslF345X02/tm214424-1_3seq1.xml
8-A12B FORM 8-A12B 2021-01-26 https://www.sec.gov/Archives/edgar/data/1828852/000110465921007455/tm214034d1_8a12b.htm
S-1/A S-1/A 2021-01-21 https://www.sec.gov/Archives/edgar/data/1828852/000110465921006200/tm2033399d3_s1a.htm
S-1 FORM S-1 2021-01-08 https://www.sec.gov/Archives/edgar/data/1828852/000110465921002452/tm2033399d2_s1.htm
DRS 2020-10-23 https://www.sec.gov/Archives/edgar/data/1828852/000110465920117298/filename1.htm