Simpson Thacher is representing Despegar.com, Inc. (NYSE: DESP) (“Despegar”) in connection with (i) a $150 million private placement of non-convertible preferred shares and warrants to purchase ordinary shares to investment funds affiliated with L Catterton and (ii) a $50 million private placement of convertible preferred shares to investment funds affiliates with Waha Capital. The transaction is subject to closing conditions and is expected to close on or about September 19, 2020. Despegar intends to use the net proceeds of the offering for general corporate purposes, including for future acquisitions.
Despegar is the leading online travel company in Latin America, operating across 20 countries in the region. Despegar’s websites and leading mobile apps offer products from over 270 airlines, more than 512,000 accommodation options, approximately 1,190 car rental agencies, approximately 326 destination services suppliers, and encompass more than 5,690 activities throughout Latin America. Despegar owns and operates two well-recognized brands––Despegar, its global brand, and Decolar, its Brazilian brand. The Firm represented Despegar in its 2017 initial public offering on the New York Stock Exchange.
The Simpson Thacher team for this transaction includes Juan Francisco Méndez, Daniel Webb, Lia Toback, Jean Park, Luis Pellerano, Joshua Bernard, Alejandro de Ramon-Laca, Antonio Ribichini and Claudia Calderon (Corporate); Jonathan Cantor and Edward Grais (Tax); and Shari Ness (Public Company Advisory Practice).