Hotel101 Receives Approval from US SEC for NASDAQ Listing
The Filipino hospitality company becomes the first firm from the Philippines to be listed on the NASDAQ.
Hotel101 Global Holdings Corporation and JVSPAC Acquisition Corporation (JVSPAC) have announced that the United States Securities and Exchange Commission (SEC) has declared effective Hotel101’s registration statement on Form F-4.
The form was filed with the SEC in connection with the previously announced business combination agreement between Hotel101 and JVSPAC. Management declared this milestone yesterday, June 2, indicating that the business combination values the company at an equity value of US$2.3 billion.
The closing of the business combination is anticipated to happen soon, pending regulatory and shareholder approvals, as well as other standard closing conditions. Upon listing, the resulting company will operate under the name Hotel101 Global Holdings Corp. and will trade under the ticker symbol “HBNB”. This listing will mark Hotel101 as the first Filipino-owned company to be listed and publicly traded on the Nasdaq exchange.
Hotel101 is a subsidiary of the Philippines-listed DoubleDragon Corporation.
