GURUGRAM, India and NEW YORK, June 18, 2020 /PRNewswire/ -- Yatra Online,
Inc. ("Yatra") (NASDAQ: YTRA), India's leading
online travel company, today announced the pricing of its
previously announced underwritten public offering of 12,500,000 of
its ordinary shares, at a public offering price of $0.80 per ordinary share. Yatra has granted
the underwriter a 30-day option to purchase up to additional
1,875,000 ordinary shares at the public offering price less
underwriting discounts and commissions.
H.C. Wainwright & Co. is acting as the sole
book-running manager for the offering.
The gross proceeds of the offering are expected to be
USD$10.0 million, prior to deducting
underwriting discounts and commissions and offering expenses and
excluding the underwriter's option to purchase additional ordinary
shares. This offering is expected to close on or about June 23, 2020, subject to satisfaction of
customary closing conditions. Yatra intends to use the net
proceeds from this offering for general corporate and business
purposes.
A registration statement relating to these ordinary shares has
been filed with the U.S. Securities and Exchange
Commission (SEC) and became effective on May 24, 2018.
The offering is being made only by means of a written prospectus
and prospectus supplement that form a part of the registration
statement. A final prospectus supplement and the accompanying
prospectus relating to the offering will be filed with
the SEC and will be available on
the SEC's website at www.sec.gov.
Alternatively, electronic copies of the final prospectus supplement
and the accompanying prospectus, when available, may be obtained
from H.C. Wainwright & Co., LLC, 430 Park
Avenue, New York, NY 10022, by email
at placements@hcwco.com or by phone at (646)
975-6996.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful, prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Yatra
We are the second largest online travel agent company
in India. Based in Gurugram, India, we are a
one-stop-shop for all travel related services. A brand that
believes in "Creating Happy Travelers," we provide information,
pricing, availability, and booking facility for domestic and
international air travel, domestic and international hotel
bookings, Packages, buses, trains, in city activities, inter-city
and point-to-point cabs, homestays and cruises. As a leading
consolidator of accommodation options, we provide real-time
bookings for more than 108,000 hotels and homestays
in India and over 1.5 million hotels around the world.
Through our website, www.yatra.com, our mobile application and
our other associated platforms, leisure and business travelers can
explore, research, compare prices and book a wide range of services
catering to their travel needs.
Forward-Looking Statements
Statements contained in this press release that relate to future
results and events, including, but not limited to, statements
regarding the above-described public offering of ordinary shares,
may constitute "forward-looking statements" within the meaning of
safe harbor provisions of the U.S. Private Securities
Litigation Reform Act of 1995, Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. These forward-looking statements are based on the
Company's current expectations, assumptions, estimates and
projections about the Company and its industry. These
forward-looking statements are subject to various risks and
uncertainties. Generally, these forward-looking statements can be
identified by the use of forward-looking terminology such as
"anticipate," "believe," "estimate," "expect," "intend," "will,"
"project," "seek," "seem," "should" and similar expressions. Such
statements include, among other things, the satisfaction of the
closing conditions related to the public offering and the use of
proceeds, management's beliefs as well as our strategic and
operational plans. Forward-looking statements involve inherent
risks and uncertainties. A number of important factors could cause
actual results to differ materially from those contained in any
forward-looking statement. Potential risks and uncertainties
include, but are not limited to, the slow-down of economic growth
in India and the global economic downturn, general
declines or disruptions in the travel industry, volatility in the
trading price of our shares, our reliance on our relationships with
travel suppliers and strategic alliances, failure to further
increase our brand recognition to obtain new business partners and
consumers, failure to compete against new and existing competitors,
failure to successfully manage current growth and potential future
growth, risks associated with any strategic investments or
acquisitions, seasonality in the travel industry
in India and overseas, failure to successfully develop
our corporate travel business, damage to or failure of our
infrastructure and technology, loss of services of our key
executives, and inflation in India and in other
countries. These and other factors are discussed in our reports
filed with the U.S. Securities and Exchange Commission. All
information provided in this release is provided as of the date of
issuance of this release, and we do not undertake any obligation to
update any forward-looking statement, except as required under
applicable law.
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SOURCE Yatra Online, Inc.