Holisto’s $405 Million Merger with Moringa

Walkers Global, working alongside Israeli law firm, Shibolet & Co, and US law firm, Ellenoff Grossman & Schole LLP, assisted Holisto Ltd. Meitar | Law Offices, McDermott Will & Emery and Puglisi & Associates acted for Moringa. Oppenheimer & Co. Inc. and Fundem Capital served as financial advisor to Holisto.

Holisto Ltd, a technology based online travel booking platform, and Moringa Acquisition Corp (Nasdaq: MACA), a special purpose acquisition company, have entered into a business combination agreement that would result in Holisto becoming publicly listed on the Nasdaq. 

The business combination provides for Holisto Ltd.’s expected pro forma equity value to be approximately $405 million.

The transaction provides Moringa’s non-redeeming public shareholders the opportunity to receive a pro rata portion of a bonus pool of up to an additional 1,725,000 shares at transaction close, which would result in merger consideration of between 1.15 and 1.6 Holisto ordinary shares for each such Moringa Class A ordinary share not redeemed. 

The closing of the transaction is expected to occur during the fourth quarter of 2022.

Holisto is a technology-based online travel booking platform that is disrupting the market by harnessing the power of advanced AI to make travel more affordable and personalized for consumers. 

The Walkers team comprised of partner, Neil McDonald (Picture), senior counsel James Denham, senior associate Tom Esler, and associate Catherine Outerbridge.

The McDermott Will & Emery team was led by Gary Emmanuel.

The Shibolet Law Firm team was led by Ofer Ben-Yehuda. 

The Ellenoff Grossman & Schole comprised of Richard Anslow and Asher Levitsky. 

The Meitar | Law Offices team included David Chertok. 

Involved fees earner: Richard Anslow – Ellenoff Grossman & Schole LLP; Asher Levitsky – Ellenoff Grossman & Schole LLP; Gary Emmanuel – McDermott Will & Emery; David Chertok – Meitar Liquornik Geva & Leshem Brandwein; Ofer Ben-Yehuda – Shibolet & Co.; James Denham – Walkers Global; Tom Esler – Walkers Global; Neil McDonald – Walkers Global; Catherine Outerbridge – Walkers Global;

Law Firms: Ellenoff Grossman & Schole LLP; McDermott Will & Emery; Meitar Liquornik Geva & Leshem Brandwein; Shibolet & Co.; Walkers Global;

Clients: Holisto Ltd.; Moringa;

Sonia Carcano

Author: Sonia Carcano