Will Begin Trading Monday, February 14 on Nasdaq as “ISPO”
February 11, 2022
DENVER – 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.”
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.