Selina Announces Expedited Funding under Subscription Agreement and Other Financing Updates
Selina Hospitality PLC - Ordinary Shares (SLNA)
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)--Selina Hospitality PLC ("Selina" or the “Company”; NASDAQ: SLNA), a global lifestyle and hospitality company catering to millennial and Gen Z travelers, is pleased to provide updates regarding recent fundraising and liability restructuring transactions.Amendment to subscription agreementOn April 23, the Company and Osprey International Limited (“Osprey”) amended the $12 million Subscription Agreement, which was entered into on January 25, 2024.Osprey has agreed to expedite the funding of its remaining $6 million investment under that Subscription Agreement via four monthly installments of $1.5 million each through August 2024. Originally, the investment was to be paid in nine installments through December 2024.This decision reflects Osprey's strong commitment to Selina and their confidence in the Company’s progress. The funds are designated to be used primarily for marketing/commercial efforts and property maintenance capital expenditures, aligning with
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News
- Selina Provides Preliminary Financial and Operational Information for Q1 2024 and Full-Year 2023 Showing Significant Progress In Core Business [Yahoo! Finance]Yahoo! Finance
- Selina Provides Preliminary Financial and Operational Information for Q1 2024 and Full-Year 2023 Showing Significant Progress In Core BusinessBusiness Wire
- Selina Welcomes Top-tier Operations and Commercial Leaders to Its Team [Yahoo! Finance]Yahoo! Finance
- Selina Welcomes Top-tier Operations and Commercial Leaders to Its TeamBusiness Wire
- Selina Announces Expedited Funding under Subscription Agreement and Other Financing Updates [Yahoo! Finance]Yahoo! Finance
SLNA
Sec Filings
- 5/9/24 - Form 6-K
- 5/1/24 - Form 6-K
- 5/1/24 - Form NT
- SLNA's page on the SEC website