real estate firm DoubleDragon said its hotel subsidiary has reserved the ticker symbol HBNB, bringing the company a step closer to its planned listing on the nasdaq via a spac merger. The hotel firm would be the first Filipino company to list via SPAC on the Nasdaq, BusinessWorld reports.
With this, DoubleDragon said that Hotel101 Global expects to sign a definitive business combination merger agreement with its chosen SPAC sponsor by March, to be followed by the official listing of its prospectus, subject to US regulatory approvals.
The company has emphasized the unique and novel concept of Hotel101, asserting that its asset-light and highly portable business model makes it an ideal candidate for a Nasdaq listing.
DoubleDragon anticipates that Hotel101's revenues, with a potential absence of concentration in any single country, could eventually span over 100 countries globally. Read more.