Digital nomad-focused hospitality company Selina has officially gone public via merging with a special purpose acquisition company.
Last week, Selina completed its merger with BOA and closed their first day of trading up 319% in an optimistic sign for the future of flexible work options.
Selina is known for its Millennial-esque design that focuses on providing occupants a variety of amenities to make their work-life balance aspirations come true.
By offering wellness-oriented design, coworking spaces, recreational rooms and much more, the company hopes to give digital nomads the ability to seamlessly immerse themselves into any environment where Selina is located.
Among the company’s largest challenges is being able to scale without losing quality, according to cofounder and CEO Rafael Museri.
“We call our strategy ‘destination building,’” said Museri. “We keep improving this process. Our 2023, 2024, goal is to make sure each unique destination has excellent content programming and also excellent operations.”
The company predicts that the debut will bring $118 million in subscriptions to its $147.5 million of senior unsecured convertible notes, opening the opportunity to transform debt into equity that would go towards Selina’s operations in the future.
“The market is telling us loud and clear that a profitable, sustainable company is the priority. We’re definitely listening to that and doing the required changes to make it profitable faster.”