Inspirato Incorporated’s (ISPO) shares declined in the after-hours market after announcing its SPAC merger with Thayer Ventures. ISPO values at $46, losing more than 50% compared to yesterday’s closing price. The stock closed at $90.65 at the end of the last trading session after reaching an all-time high of $108. The trading stopped a number of times due to uncertain reasons throughout the trading session. The stock volume traded in the last trading session was around 603.71K shares. The current market cap of the company is around $991.88 million.
ISPO SPAC merger with Thayer Ventures
Thayer Ventures Acquisition Corporation and Inspirato LLC, the innovative luxury travel subscription provider, finalized their previously announced SPAC merger today (TVAC).
Thayer shareholders approved the SPAC merger on February 8, and the merged company’s shares rose dramatically on February 14, when they first appeared on the market. The new name of the business is Inspirato Incorporated. Inspirato’s Class A common stock and warrants had begun trading on the Nasdaq Stock Market under the ticker symbols “ISPO” and “ISPOW” on Monday, February 14, 2022.
ISPO CEO’s Remarks
Inspirato’s co-founder and CEO, Brent Handler, said the firm is excited to enter the public market. Our patented next-generation travel subscription technology will enable us to advance our aim of transforming luxury travel. This would not have been possible without our devoted subscribers, investors, and staff, which have helped us develop into the unique premium brand we are today. They have all contributed to our success. Expanding our collection of luxury holiday alternatives and promoting the advantages of Inspirato to more and more people worldwide is our goal as a public business.
Conclusion
It had been a roller coaster ride for the company’s stock since it started publically trading. The stock lost 50% yesterday, but it gained more than 340% since its listed price. The value of the stock will settle in the upcoming weeks.
