Experiential Hospitality Brand Selina to Become Publicly Traded Through Merger With BOA Acquisition Corp.
Largest Hospitality brand targeted to Millennial and Gen Z travelers, Selina is scaling rapidly to capitalize on an estimated $350 billion annual market opportunity
Combined company to have an equity value of approximately $1.2 billion
The business combination provides $285 million in gross cash proceeds, including $70 million in capital commitments comprising PIPE investments from leading institutional investors including South Light Capital (an affiliate of DigitalBridge), MORE Investment House and Sir Ronald Cohen, alongside PIPE and backstop commitments from BOA's sponsor and founder-led shareholders
Proceeds will allow Selina to fuel international expansion, invest in proprietary te
