November 26, 2022

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Selina Hospitality completes SPAC merger, jumps 319%

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Intercontinental hospitality corporation Selina Hospitality plc (Nasdaq: SLNA), which was founded in 2015 by Israeli business owners Rafael Museri and Daniel Rudasevski, has found its share rate leap 319.5% on its to start with day of trading on Wall Street.

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Selina accomplished its merger with specific intent acquisition company (SPAC) BOA Acquisition Corp. at a corporation valuation of $1.2 billion and organization price of $942 million, right after neutralizing hard cash. The share started trading at $9.75 and opened by getting rid of 14% prior to a impressive rally observed the share selling price shut 319.5% up on the working day at $40.90.

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Museri stated, “The completion of this transaction is further more validation of our hugely differentiated hospitality presenting, we can scale the manufacturer and our exclusive destinations to vacationers and locals all over the globe like never just before. We look ahead to leveraging this cash to travel lengthy-phrase worthwhile advancement, introduce new choices that facilitate meaningful connections, and enrich our technology to guidance our rapid world enlargement.”

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Headquartered in London, Selina is going through fast expansion and currently has a various selection of 163 hospitality properties in over 20 nations around the world including 9 in Israel.

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Published by Globes, Israel enterprise 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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