The Access Industries and Grupo Wiese-backed workspace and short-term accommodation service is merging with BOA Acquisition Corp in a reverse takeover at a valuation of about $1.2bn.

Selina, a US-based, corporate-backed operator of short-term accommodation and co-working spaces, agreed a reverse takeover yesterday with special purpose acquisition company BOA Acquisition Corp.

The transaction gives the combined entity a pro forma valuation of roughly $1.2bn and is supported by $70m in private investment in public equity (PIPE) financing from backers including investment firm DigitalBridge’s South Light Capital affiliate, More Investment House and Sir Ronald Cohen.

BOA’s sponsor and founder-led shareholders are also contributing to the PIPE, having supplied…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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