Thayer Ventures (TVAC) Shareholders Approve Inspirato Deal

Thayer Ventures Acquisition Corp.  (NASDAQ:TVAC) announced this afternoon that its shareholders have approved its combination with luxury travel service Inspirato in a special meeting held on Tuesday.

Thayer Ventures did not provide further details on the transaction, but the SPAC traded below its pro rata trust value of $10.20 throughout its redemption deadline February 4. TVAC closed 3.73% lower this afternoon at $9.55.

The parties closed the deal today and Inspirato’s common stock and warrants will begin trading on the Nasdaq Stock Market on Monday, February 14, under the ticker symbols “ISPO” and “ISPOW”, respectively.

Thayer originally announced its $1.1 billion deal with Inspirato last year on June 30. Denver-based Inspirato offers stays at an array of luxury hospitality destinations via a monthly subscription pass for $2,500, with a lower cost option of $600 per month, which still charges nightly rates.

ADVISORS

• UBS Securities LLC (“UBS”) is acting as financial advisor and capital markets advisor to Inspirato, and co-lead placement agent for institutional investors to Thayer.
• Wilson Sonsini Goodrich & Rosati is acting as legal advisor to Inspirato.
• Evercore Group L.L.C. (“Evercore”) is acting as lead financial advisor to Thayer and co-lead placement agent for institutional investors to Thayer.
• Stifel, Nicolaus & Company, Incorporated (“Stifel”) is acting as lead capital markets advisor to Thayer and placement agent for institutional investors to Thayer.
• Cooley is acting as legal advisor to Thayer.
• Simpson Thacher & Bartlett LLP is acting as legal advisor to UBS, Evercore, and Stifel in their role as placement agents for institutional investors to Thayer.