Inspirato shareholder opposes Buyerlink merger, backs $3.15 cash offer

Stoney Lonesome HF LP, which holds approximately 5.4% of Inspirato Incorporated (NASDAQ: ISPO), released a letter opposing the company's proposed reverse merger with Buyerlink Inc. The shareholder urged Inspirato's Special Committee to consider a $3.15 per share all-cash offer from Exclusive Investments instead.

In the letter dated September 8, Stoney Lonesome outlined concerns about Buyerlink's business fundamentals, financial projections, and valuation. The shareholder stated it has voted against all merger-related proposals and believes the Special Committee should evaluate the alternative transaction.

"We believe the all-cash offer from Exclusive Investments represents a superior alternative that provides immediate value to shareholders," the letter states.

Stoney Lonesome called on the Special Committee to halt the Buyerlink proxy process and questioned why the committee characterized the $3.15 cash offer as only "reasonably likely to lead to a Superior Proposal." The shareholder argued that the Exclusive Investments bid is already superior to the Buyerlink transaction.

The shareholder contended that continuing the proxy solicitation process while a cash offer exists fails to meet the Special Committee's fiduciary obligations to shareholders. Stoney Lonesome described the currently proposed merger as the result of "broken governance, insufficient boardroom independence and a total disregard for independent shareholders' interests."

The information is based on a press release statement from Stoney Lonesome HF LP.

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