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2021-12-02 20:40
07:37 AM EST, 12/02/2021 (MT Newswires) -- Blank-check firm BOA Acquisition (BOAS) on Thursday is merging with hotel platform Selina, resulting in the latter becoming a publicly listed company.
The deal values the pro forma company at an equity value of about $1.2 billion. It is expected to close in the first half of next year.
Upon closing, the combined company will operate as Selina Hospitality and its ordinary shares will be listed on the New York Stock Exchange under the ticker symbol, "SLNA."
Selina has received a commitment of $70 million in capital from investors, including South Light Capital, MORE Investment House and Sir Ronald Cohen. The company is expected to receive $285 million in proceeds from the acquisition, according to a statement.
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