Inspirato, the Innovative Luxury Travel Subscription Brand, Completes Transaction to Go Public

DENVER–(BUSINESS WIRE)–Inspirato LLC, the innovative luxury travel subscription brand, today announced that it has completed the previously announced business combination (the “Business Combination”) with Thayer Ventures Acquisition Corporation (Nasdaq: TVAC, TVACU, TVACW) (“Thyer Ventures”).

The business combination was approved at a special meeting of shareholders of Thayer Ventures on February 8, 2022 and the combined company changed its name to Inspirato Incorporated (“Inspirato” or the “Company”). Effective Monday, February 14, 2022, Inspirato’s common stock and Class A warrants will trade on the Nasdaq Stock Market under the symbols “ISPO” and “ISPOW”, respectively.

Inspirato is led by Brent Handler, co-founder and CEO, and Brad Handler, co-founder and executive chairman. The board will initially consist of Brent Handler, Brad Handler, Michael Armstrong, Eric Grosse, Ann Payne and Scot Sellers.

“We are excited to begin Inspirato’s next chapter of growth as a public company,” said Brent Handler, co-founder and CEO of Inspirato. “With this milestone achieved, we are well positioned to accelerate our mission to revolutionize luxury travel with our exclusive next-generation travel subscription platform. None of this would have been possible without our loyal subscribers, investors and employees. , all of which have helped us grow into the one-of-a-kind luxury brand we are today. As a public company, we look forward to expanding our portfolio of luxury vacation options and showcasing the benefits from Inspirato to more and more travelers around the world.

“Inspirato continues to show all the hallmarks of a disruptive leader in the luxury travel space,” said Chris Hemmeter, former co-CEO of Thayer Ventures Acquisition Corporation. “With its network-effect subscription business model, consistent focus on subscriber satisfaction and growing supply-side momentum, it is tailor-made to help travelers make the most of their valuable time. in a post-pandemic world. We look forward to supporting Inspirato’s future growth.

Advisors

UBS Securities LLC (“UBS”) acted as lead financial advisor and capital markets advisor to Inspirato, and co-lead placement agent for institutional investors to Thayer. Piper Sandler & Company also acted as financial advisor to Inspirato. Cantor Fitzgerald & Co. Inc., Northland Securities Inc. and Oppenheimer & Co. Inc. also acted as financial markets advisors to Inspirato.

Evercore Group LLC (“Evercore”) acted as lead financial advisor to Thayer and co-lead placement agent for Thayer’s institutional investors. Stifel, Nicolaus & Company, Incorporated (“Stifel”) acted as senior capital markets advisor to Thayer and placement agent for institutional investors to Thayer.

Wilson Sonsini Goodrich & Rosati acted as legal counsel to Inspirato. Cooley acted as legal counsel to Thayer. Simpson Thacher & Bartlett LLP acted as legal counsel to UBS, Evercore and Stifel in their role as placement agents for Thayer’s institutional investors.

About Inspirato, Inc.

Launched in 2011, Inspirato is the innovative luxury travel subscription brand that offers affluent travelers access to a managed and controlled portfolio of hand-selected vacation options, delivered through a subscription model to ensure the service and certainty that affluent customers demand. The Inspirato portfolio includes branded luxury vacation homes available exclusively to subscribers and guests, accommodations at five-star hotels and resort partners, and personalized travel experiences. In 2019, Inspirato made travel better by introducing Inspirato Pass, the world’s first luxury travel pass that includes all fares, taxes and overnight fees. For more information, visit www.inspirato.com.

Forward-looking statements

This document may contain a number of “forward-looking statements”. Forward-looking statements include information regarding Inspirato’s possible or expected future operating results, business strategies, debt levels, competitive position, industry environment, potential growth opportunities and adverse effects. regulations, including whether this business combination will generate returns for shareholders. These forward-looking statements are based on Inspirato’s management’s current expectations, estimates, projections and beliefs, as well as a number of assumptions regarding future events. When used in this press release, the words “estimates”, “plans”, “expects”, “anticipates”, “anticipates”, “plans”, “intends”, “believes ”, “seeks”, “may”, “will”, “should”, “future”, “propose” and variations of these similar words or expressions (or negative versions of these words or expressions) are intended to identify the forward-looking statements.

These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of management of Inspirato, which could cause actual results to differ. materially from the results discussed in the forward-looking statements. These risks, uncertainties, assumptions and other important factors include, but are not limited to: (a) the risk of delays in Inspirato’s admission to trading on the Nasdaq; (b) ability to meet Nasdaq listing standards; (c) costs associated with listing on Nasdaq; (d) the ability to implement business plans, forecasts and other expectations after the business combination, and to identify and realize additional opportunities; (e) the risk of a downturn in the travel and hospitality industry, including the residual effects of the COVID-19 pandemic; (f) the possibility that Inspirato may be affected by other economic, business and/or competitive factors; (g) changes in applicable laws or regulations, including legal or regulatory developments (such as changes in local laws affecting hotels, apartments and other accommodations and regulatory developments relating to special purpose acquisition companies); (h) the possibility that Inspirato may be affected by other economic, business and/or competitive factors and (i) other risks and uncertainties identified in Thayer Ventures’ registration statement on Form S-4 ( File No. 333-259570) filed with the Securities and Exchange Commission (the “SEC”), which was declared effective on January 18, 2022, with respect to the securities of Inspirato issued pursuant to the business combination , and in other documents filed or to be filed with the SEC by Inspirato and available on the SEC’s website at www.sec.gov. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the registration statement on the Form S-4 referenced above and other documents previously filed by Thayer Ventures with of the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made.

Except as required by law, Inspirato undertakes no obligation to update or revise its forward-looking statements to reflect events or circumstances after the date of this release.


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