February 9, 2023

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Selina Hospitality completes SPAC merger, jumps 319%

1 min read

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Global hospitality business Selina Hospitality plc (Nasdaq: SLNA), which was founded in 2015 by Israeli business owners Rafael Museri and Daniel Rudasevski, has viewed its share price jump 319.5% on its to start with day of buying and selling on Wall Street.

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Selina accomplished its merger with unique goal acquisition enterprise (SPAC) BOA Acquisition Corp. at a company valuation of $1.2 billion and enterprise value of $942 million, just after neutralizing cash. The share commenced trading at $9.75 and opened by shedding 14% prior to a impressive rally noticed the share value shut 319.5% up on the working day at $40.90.

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Museri said, “The completion of this transaction is further validation of our hugely differentiated hospitality supplying, we can scale the manufacturer and our one of a kind places to travelers and locals around the globe like hardly ever prior to. We glimpse forward to leveraging this funds to travel prolonged-expression financially rewarding advancement, introduce new choices that facilitate meaningful connections, and enrich our technologies to aid our speedy world growth.”

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Headquartered in London, Selina is undergoing fast enlargement and currently has a varied range of 163 hospitality qualities in around 20 nations around the world together with 9 in Israel.

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Printed by Globes, Israel organization information – en.globes.co.il – on October 28, 2022.

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

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