Mondee Holdings, Inc. (NasdaqGM:MOND) entered into a stock purchase agreement to purchase all of the outstanding shares of Purplegrids, Inc. for $15 million on November 13, 2023. In connection with the acquisition, the Company agreed to pay total consideration of approximately 1,900,000 shares adjusted for net working capital to target net working capital, closing cash to target cash, and indebtedness, including approximately 700,000 shares at closing with no lock-up, 0.2 million shares with a six month lock-up after closing and 1 million shares with a one year lock-up after closing. Sellers may receive up to 1 million earn out shares that can be earned over a two-year period upon the achievement of certain revenue targets.

Additionally, sellers may receive up to 1.5 million shares depending on the price of the Company's stock on the first anniversary of the Purplegrids Closing date.