BOAS Stock Price, News & Analysis

Selina, a hospitality company catering to millennials and Gen Z, has completed its business combination with BOA Acquisition Corp. (NYSE: BOAS), which was approved by stockholders on October 21, 2022. As a result, Selina's shares will now trade on Nasdaq under the ticker symbols SLNA and SLNAW. The deal provides approximately $54 million in private placement financing and $118 million from convertible notes to support Selina's growth and operational goals. Selina's CEO Rafael Museri emphasized the opportunity for long-term growth and enhanced technology following the merger.

BOA Acquisition Corp. (NYSE: BOAS) announced that over 83% of stockholders approved the business combination with Selina Hospitality PLC during a Special Meeting on October 21, 2022. Approximately 89.7% of BOA's shares were represented. CEO Rafael Museri expressed confidence in Selina's brand appeal to millennial and Gen Z travelers, aiming for profitability as a public company. The transaction will close upon meeting closing conditions, with Selina's stock expected to trade on Nasdaq under ticker symbols 'SLNA' and 'SLNAW' post-combination.

Selina achieved a record Net Promoter Score (NPS) of 54 in September, outperforming major hospitality competitors by 17 points and exceeding the global hotel median by 74%. This reflects a strong community among guests, with 32% being return visitors and 62% claiming to have made friends during their stay. Selina, which caters to millennial and Gen Z travelers, operates over 163 properties in 25 countries. Following its merger with BOA Acquisition Corp. (NYSE: BOAS), Selina aims to solidify its presence in the hospitality industry.

Selina, a rapidly expanding lifestyle and experiential hotel firm, announced a series of retail investor roadshows and fireside chats on Twitter Spaces. These events precede the Special Meeting for stockholders of BOA Acquisition Corp. (NYSE: BOAS) on October 21, 2022, aimed at seeking approvals for the Business Combination that will potentially make Selina publicly traded. The Twitter Spaces sessions will take place from October 17 to October 20, 2022, hosted by key executives including CEO Rafael Museri and CFO Barbara Zubiria.

Selina reported a remarkable 142% year-over-year increase in total revenue for the first half of 2022, reaching $86 million. The company also opened 13 new properties, enhancing its portfolio significantly. Key metrics include a 60% improvement in occupancy rates and a 77% increases in total revenue per bedspace, now at $3,233. A special meeting for shareholders to approve the business combination with BOA Acquisition Corp (NYSE: BOAS) is scheduled for October 21, 2022.