Selina Hospitality completes SPAC merger, jumps 319%

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Global hospitality corporation Selina Hospitality plc (Nasdaq: SLNA), which was founded in 2015 by Israeli entrepreneurs Rafael Museri and Daniel Rudasevski, has witnessed its share selling price leap 319.5% on its initially working day of trading on Wall Road.

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Selina accomplished its merger with exclusive function acquisition corporation (SPAC) BOA Acquisition Corp. at a enterprise valuation of $1.2 billion and business benefit of $942 million, immediately after neutralizing hard cash. The share started investing at $9.75 and opened by shedding 14% before a extraordinary rally noticed the share price shut 319.5% up on the day at $40.90.

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Museri said, “The completion of this transaction is additional validation of our hugely differentiated hospitality offering, we can scale the manufacturer and our exceptional locations to vacationers and locals around the world like hardly ever ahead of. We search forward to leveraging this cash to travel very long-time period successful advancement, introduce new offerings that facilitate significant connections, and increase our technological innovation to aid our quick world expansion.”

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Headquartered in London, Selina is going through quick expansion and at present has a diverse assortment of 163 hospitality properties in around 20 nations around the world which includes 9 in Israel.

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Published by Globes, Israel organization news – en.globes.co.il – on Oct 28, 2022.

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

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