November 28, 2022

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Selina Hospitality completes SPAC merger, jumps 319%

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Global hospitality organization Selina Hospitality plc (Nasdaq: SLNA), which was started in 2015 by Israeli business people Rafael Museri and Daniel Rudasevski, has witnessed its share price soar 319.5% on its initially working day of investing on Wall Road.

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Selina done its merger with exclusive goal acquisition corporation (SPAC) BOA Acquisition Corp. at a firm valuation of $1.2 billion and business value of $942 million, immediately after neutralizing cash. The share commenced investing at $9.75 and opened by shedding 14% before a extraordinary rally observed the share value near 319.5% up on the day at $40.90.

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Museri reported, “The completion of this transaction is additional validation of our highly differentiated hospitality offering, we can scale the brand and our exceptional locations to vacationers and locals all around the globe like by no means prior to. We glimpse ahead to leveraging this capital to drive lengthy-time period lucrative progress, introduce new offerings that aid meaningful connections, and boost our technology to support our quick world-wide enlargement.”

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Headquartered in London, Selina is undergoing quick expansion and at present has a numerous assortment of 163 hospitality homes in over 20 nations around the world which includes nine in Israel.

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Posted by Globes, Israel small business news – en.globes.co.il – on October 28, 2022.

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

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