ISPO - Inspirato Completes $25 Million Investment from Capital One Ventures Solidifying New Strategic Partnership | Benzinga
DENVER, Oct. 04, 2023 (GLOBE NEWSWIRE) -- Inspirato Incorporated ("Inspirato") (NASDAQ:ISPO), the innovative luxury travel subscription brand, today announced that it has closed its $25 million senior secured convertible note issued by Inspirato to Capital One Ventures (the "investment"). On September 26, 2023, Inspirato shareholders voted to approve the investment, subject to the finalization of a commercial agreement between an affiliate of Capital One Ventures and Inspirato, which has been executed.
The investment provides broad operating flexibility to Inspirato as it continues to deliver on its promise of providing remarkable luxury vacation for its members and guests.
"We're incredibly excited to commence this strategic partnership with Capital One Ventures," said Eric Grosse, CEO, Inspirato. "The investment supports Inspirato's long-term profitability goals while ensuring our existing and future members continue to benefit from our first-class service and certainty while experiencing the ultimate luxury vacations."
This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities (including the shares of Inspirato common stock, if any, into which the convertible notes will be convertible) and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally relate to future events or our future financial or operating performance. In some ...