SINGAPORE (Reuters) -Hotel101 International Holdings Corp and Nasdaq-listed particular goal acquisition firm JVSPAC Acquisition Corp stated on Monday that they had obtained a regulatory nod to proceed with a enterprise mixture settlement.
They stated in a press release that the U.S. Securities and Trade Fee had declared efficient Hotel101’s registration assertion on type F-4 filed with the SEC in reference to the enterprise tie-up.
JVSPAC is a publicly listed shell that raises funds to merge with a non-public entity. Hotel101 is the resort arm or subsidiary of Philippines-listed DoubleDragon.
The enterprise mixture values Hotel101 at an fairness worth of $2.3 billion, in response to the assertion. Upon itemizing, the mixed firm will function as Hotel101 and can grow to be the primary Philippine-owned firm to be listed and traded on Nasdaq, the assertion confirmed.
JVSPAC stated that it has scheduled a rare basic assembly of shareholders on June 24 to vote on the proposed enterprise mixture with Hotel101.
(Reporting by Yantoultra Ngui; enhancing by Mark Heinrich and Tomasz Janowski)
