Holista to Publicly Trade via Business Combination with Moringa Acquisition Corp. | Financial Buzz

Holista to Publicly Trade via Business Combination with Moringa Acquisition Corp.

Holisto Ltd. and Moringa Acquisition Corp. (NASDAQ: MACA) has announced entry into a business combination agreement that will result in Holisto becoming publicly listed on the NASDAQ exchange.  This business combination provides for Holisto Ltd.’s expected pro forma equity value to be USD 405 Million.  The closing of the transaction is expected to occur during the fourth quarter of 2022.

Holisto is a technology-based online travel booking platform that is disrupting the market by harnessing the power of advanced AI to make travel more affordable and personalized for consumers. Holisto’s advanced AI technology leverages its unique holistic view of hotel rates and plans across multiple inventory sources, including online travel agencies, global distribution systems, wholesalers and hotel operators to provide consumers with more affordable and personalized bookings.

“From the outset we were inspired by the opportunity to disrupt the large, fragmented and complex travel booking market, using advanced big data and AI technologies that enable incremental cost savings and simplicity through the ability to combine offerings from multiple sources”, said Eran Shust, Chief Executive Officer and co-Founder of Holisto. “Our combination with Moringa and access to public markets will allow Holisto to continue to aggressively leverage our technology by scaling our platform and infrastructure and expand our customer acquisition and brand awareness.”

Ilan Levin, Chief Executive Officer and Chairman of Moringa, added, “We are incredibly excited to announce the merger with Holisto. Holisto is innovating with advanced technology solutions in a large, global market which is ripe for transformation for the benefit of the consumer traveler.  We look forward to our partnership and opportunity to leverage our expertise as Holisto continues to rapidly scale its business.”

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