Hospitality coworking firm Selina has received $147.5 million of 6% senior unsecured convertible notes due in 2026.
This financing is expected to occur alongside the merger of Selina and special purpose acquisition company BOAS, taking the coworking firm public.
A senior unsecured convertible note gives Selina the “option in which the note will be converted into a predefined amount of the issuer’s shares,” according to Investopedia.
“We have taken another step to help ensure funding certainty as we move towards the closing of our merger with BOAS and our listing as a public company,” said Rafael Museri, CEO and cofounder of Selina.
“Selina is well positioned to continue to benefit from pent-up travel demand, the increase in remote working, and the prioritization of health, wellness and experiences among our target customers, which we anticipate will accelerate in the coming years.”