Felicity Long
07.06.2024 - 17:47 / skift.com / Dennis Schaal
Inspirato, with a market cap a tad more than $14 million, has appealed a Nasdaq determination that the luxury accommodation provider didn’t meet the minimum market cap standard of $15 million for an extended period.
Inspirato’s appeal stays the pending delisting throughout the appeals process, a spokesperson said Friday. If not for the appeal, Inspiration’s shares would have ceased trading on Nasdaq on Monday, June 10.
Nasdaq had previously given Inspirato 180 days, or until May 28, 2024, to meet the compliance standards, but the company was unable to do so.
“The company is taking steps to address the non-compliance and is actively pursuing strategies to comply with Nasdaq’s continued listing requirements,” Inspirato stated in a financial filing last week.
Inspirato’s core business is to provide luxury accommodations to travelers through a subscription service, but it has branched out into non-subscription services, as well.
Inspirato has struggled with profitability since its public market debut in early 2022, and avoided a delisting last year through a reverse stock split.
The company has been on a cost-cutting binge in an attempt to stem its losses.
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Sonder disclosed in a financial filing Friday that it received a Nasdaq notice that it is not complying with the stock exchange’s listing rules and faces a potential delisting because the company hasn’t filed its annual 10-K report for 2023.
Not much changed for luxury brand Inspirato in the fourth quarter since its last earnings announcement. And its strategy remains the same: to lower nightly rates, and to help find the proper supply and demand balance to improve operating efficiencies. And of course, to break even.
In what may be a last ditch effort, JetBlue Airways and Spirit Airlines have filed an appeals court brief asking that the merger between the two airlines be allowed to proceed.The brief, filed today with the Boston 1st U.S. Circuit Court of Appeals, asks that the court overturn a recent judge’s ruling that stopped the proposed $3.8 billion, according to Reuters. In the brief, the airlines argued that the merger was improperly blocked and pointed out that the same judge who ruled against the airlines joining forces also recognized that such a merger would: ”improve competition, and thus reduce prices, for the vast majority of consumers."
JetBlue Airways and Spirit Airlines announced plans to appeal the decision by a United States federal judge to block a potential merger between the two carriers based on violations of antitrust laws.
JetBlue and Spirit said Friday they are planning to appeal a judge’s ruling that blocked their proposed merger.
Luxury vacation homes and villas subscription service Inspirato and Capital One are working on a commercial deal and strategic partnership, and once that has been negotiated, then Capital One Ventures would provide Inspirato with a $25 million convertible note, the companies announced Tuesday.
Luxury hospitality brand Inspirato has a new CEO: Eric Grosse.
Happy hump day, folks! I hope your week is going easy. We have a long one today. Let’s get into it.