Inspirato (ISPO) has shared an update.
Inspirato Incorporated has entered into an investment agreement with One Planet Group LLC, involving the sale of Class A common stock shares and warrants with an option for additional purchases. The agreement, set to close in two tranches, is contingent on stockholder approval and other conditions. The deal also grants the purchaser rights to designate board members and imposes restrictions on the company’s ability to engage in alternative proposals. High-level executive changes accompany the agreement, including new CEO and board appointments, alongside severance arrangements for departing executives. The shares and warrants offered have not been registered under the Securities Act, relying instead on an exemption for their issuance.
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