With a $1.2 billion valuation and 163 properties in 25 countries, Selina, the hotel chain for digital nomads, debuted as a public company after completing its merger with special purpose acquisition company BOA.
Announced just over a year ago (October 21, 2021), Selina’s IPO comes after the chain acquired BOA Acquisitions Corp, a company already listed on the New York Stock Exchange (NYSE: BOAS). Selina expects this purchase and the start of its IPO to provide it with new revenues.
Selina, now headquartered in London, said the deal generated about $54 million in gross proceeds to accelerate growth. The transaction also promised $118 million from subscriptions to the $147.5 million principal amount of senior unsecured convertible notes due 2026 that will help fund Selina’s operations.To date, Selina has raised $225 million in funding since its 2015 launch.
“We call our strategy ‘destination building. We keep improving this process. Our 2023, 2024, goal is to make sure each unique destination has excellent content programming and also excellent operations.”
Rafael Museri, CEO and cofounder of Selina.
For Rafael Museri (CEO) and Daniel Rudasevski (CMO), Selina’s cofounders, listing on Nasdaq is a milestone set since 2014, when they began to outline the hosting business model they now offer to millennials and gen Zs who travel, work remotely and want entertainment and wellness (such as yoga, meditation, among other activities).
