Holisto, a Technology-Based Online Travel Booking Platform, to Become Publicly Traded Via Business Combination with Moringa Acquisition Corp

• Holisto’s advanced AI technology addresses the fragmented and complex travel booking market, providing consumers with a more affordable and personalized offering

• Since commercial product launch in Q2 2020, Holisto’s online booking platform has gained significant market acceptance

• Transaction enables Holisto to scale its customer acquisition and brand awareness strategy

Holisto Ltd, a technology based online travel booking platform (“Holisto” or the “Company”), and Moringa Acquisition Corp , a special purpose acquisition company, announced they 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. As described below and subject to certain limitations, 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 exact ratio of merger consideration for non-redeeming shareholders will depend on the number of Moringa shares that are redeemed.

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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. Holisto’s advanced AI technology leverages its unique holistic view of hotel rates and plans across multiple inventory sources, including online travel agencies, global distribution systems, wholesalers and hotel operators to provide consumers with more affordable and personalized bookings. Operating under multiple brands, including GoSplitty and Traveluro.

Holisto’s founders were inspired by the opportunity to disrupt the large, fragmented and complex travel booking market. Through the use of advanced big data and AI technologies, Holisto enables incremental cost savings and simplicity for the consumer traveler.

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“From the outset we were inspired by the opportunity to disrupt the large, fragmented and complex travel booking market, using advanced big data and AI technologies that enable incremental cost savings and simplicity through the ability to combine offerings from multiple sources”, said Eran Shust, Chief Executive Officer and co-Founder of Holisto. “Our combination with Moringa and access to public markets will allow Holisto to continue to aggressively leverage our technology by scaling our platform and infrastructure and expand our customer acquisition and brand awareness.”

Ilan Levin, Chief Executive Officer and Chairman of Moringa, added, “We are incredibly excited to announce the merger with Holisto. Holisto is innovating with advanced technology solutions in a large, global market which is ripe for transformation for the benefit of the consumer traveler.  We look forward to our partnership and opportunity to leverage our expertise as Holisto continues to rapidly scale its business.”

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