Selina Hospitality completes SPAC merger, jumps 319%

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Global hospitality company Selina Hospitality plc (Nasdaq: SLNA), which was started in 2015 by Israeli entrepreneurs Rafael Museri and Daniel Rudasevski, has viewed its share selling price leap 319.5% on its to start with day of investing on Wall Avenue.

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Selina concluded its merger with distinctive purpose acquisition enterprise (SPAC) BOA Acquisition Corp. at a firm valuation of $1.2 billion and organization benefit of $942 million, soon after neutralizing cash. The share began buying and selling at $9.75 and opened by getting rid of 14% ahead of a impressive rally observed the share price tag close 319.5% up on the day at $40.90.

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Museri said, “The completion of this transaction is even more validation of our hugely differentiated hospitality offering, we can scale the brand name and our distinctive destinations to vacationers and locals all-around the globe like never ever right before. We glance forward to leveraging this money to drive extended-time period lucrative progress, introduce new choices that aid significant connections, and boost our technology to support our immediate global enlargement.”

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Headquartered in London, Selina is going through quick enlargement and now has a assorted range of 163 hospitality homes in about 20 nations around the world including 9 in Israel.

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Posted by Globes, Israel business information – en.globes.co.il – on Oct 28, 2022.

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© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

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