Connect with us

Technology

Hotel101 Global and JVSPAC Acquisition Corp. Announce Confidential Submission of F-4 Registration Statement Ahead of Planned Nasdaq Listing

Published

on

SINGAPORE, Jan. 31, 2025 /PRNewswire/ — Hotel101 Global Pte. Ltd (“Hotel101” or “HBNB”), an asset-light, prop-tech hospitality platform business designed for rapid global growth, and JVSPAC Acquisition Corp. (NASDAQ: JVSA) (“JVSPAC”), a special purpose acquisition company, today announced the submission of a confidential draft Registration Statement on Form F-4 to the United States Securities and Exchange Commission (“SEC”) in connection with their previously announced proposed business combination, following the signing of a definitive merger agreement between Hotel101 and JVSPAC on April 8, 2024.

Hotel101 is an asset-light, prop-tech hospitality platform pioneering a globally standardized “condotel” business model. Hotel101’s management believes that Hotel101 is poised to disrupt the hospitality industry by offering identical, standardized hotel rooms around the world, creating what it believes to be unbeatable efficiency, simplicity, and value.

Hotel101 is expected to have an equity value of over US$2.3 billion following completion of the transaction, which is expected to close in the first half of 2025 subject to regulatory and shareholder approvals, and other customary closing conditions.

Upon closing, Hotel101, the hotel subsidiary of Philippine-listed DoubleDragon Corporation (PSE: DD), is expected to trade on the Nasdaq under the ticker symbol “HBNB.”

Hotel101 management believes that the Hotel101 platform is unlike anything available in any part of the world today: while it is similar to other short-term rental platforms because its inventory is generally owned by third-party individual condominium unit owners who can opt to list their unit on the Hotel101 platform, it is able to deliver consistency, security, and predictability for its guests, as well as arguably higher acceptance in the communities where it operates as all Hotel101 properties are purposely built as hospitality assets. The global opportunity that Hotel101 management sees in the hospitality space is that of standardization, which it believes brings efficiency, especially for the value segment. In addition, Hotel101’s proprietary app (which recently hit a milestone of 1 million registered users) adopts dynamic pricing for its room rates and plans to offer self-check in, simplified by the availability of just one type of room.

By building properties at scale – what Hotel101 management believes to be roughly five times the size of other branded 3-star hotel chains – Hotel101 management believes that it can offer its guests amenities that go well beyond what it believes to be the typical offering in the value segment. These amenities usually include in-room kitchenettes, pools, gyms, business centers, all-day dining, function rooms, 24/7 front desks, and children’s playgrounds – features that other mid-tier players do not typically provide. 

Outside of the Philippines, Hotel101 has started construction in Madrid, Spain for its 680-room Hotel101-Madrid located in the Valdebebas area beside the IFEMA Convention Complex, the Real Madrid Complex and the upcoming new F1 Grand Prix Track. Another 482-room property, Hotel101-Niseko, is under construction in Hokkaido, Japan, and a site has been secured in Los Angeles, California to build the first Hotel101 in the U.S.

Hotel101’s long term vision is to have one million rooms, operating in over 100 countries worldwide, with an initial 25 identified priority countries for the medium term.

Important Information About the Proposed Transaction and Where to Find It

The proposed Transaction will be submitted to shareholders of JVSPAC for their consideration and approval. JVSPAC and PubCo intend to jointly file a registration statement (the “Registration Statement”) with the SEC which will include preliminary and definitive proxy statements to be distributed to JVSPAC’s shareholders in connection with JVSPAC’s solicitation for proxies for the vote by JVSPAC’s shareholders in connection with the proposed Transaction and other matters as described in the Registration Statement, as well as a prospectus relating to the offer of the securities to be issued to Hotel101’s shareholders in connection with the completion of the proposed Transaction. After the Registration Statement is filed and declared effective, JVSPAC will mail a definitive proxy statement and other relevant documents to its shareholders as of the record date established for voting on the proposed Transaction. JVSPAC’s shareholders and other interested persons are advised to read, once available, the preliminary proxy statement/prospectus and any amendments thereto and, once available, the definitive proxy statement/prospectus, in connection with JVSPAC’s solicitation of proxies for its special meeting of shareholders to be held to approve, among other things, the proposed Transaction, because these documents will contain important information about JVSPAC, Hotel101 and the proposed Transaction. Shareholders may also obtain a copy of the preliminary or definitive proxy statement, once available, as well as other documents filed with the SEC regarding the proposed Transaction and other documents filed with the SEC by JVSPAC, without charge, at the SEC’s website located at www.sec.gov or by directing a request to JVSPAC.

Participants in the Solicitation

JVSPAC, DoubleDragon Corporation, Hotel101, and their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitations of proxies from JVSPAC’s shareholders in connection with the proposed Transaction. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of JVSPAC’s shareholders in connection with the proposed Transaction will be set forth in the proxy statement/prospectus to be filed with the SEC in connection with the Transaction. You can find more information about JVSPAC’s directors and executive officers in JVSPAC’s final prospectus related to its initial public offering dated January 18, 2024. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests will be included in the proxy statement/prospectus when it becomes available. Shareholders, potential investors and other interested persons should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.

No Offer or Solicitation

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Contacts
Brunswick Group – Hotel101@brunswickgroup.com

View original content:https://www.prnewswire.com/news-releases/hotel101-global-and-jvspac-acquisition-corp-announce-confidential-submission-of-f-4-registration-statement-ahead-of-planned-nasdaq-listing-302365730.html

SOURCE Hotel101

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Trident Systems Recognized by Northrop Grumman with Supplier Excellence Award

Published

on

By

FAIRFAX, Va., March 4, 2025 /PRNewswire/ — Northrop Grumman Corporation (NYSE:NOC) has recognized Trident Systems, a LightRidge Solutions Company, as one of its top supplier partners during the company’s Supplier Excellence Awards.

“Trident has supported Northrop Grumman in delivering technologies that enhance national security for the U.S. and our allies,” said Ken Brown, vice president, enterprise global supply chain, Northrop Grumman. “The high-quality performance, dedication and partnership of our supplier teams drive operational excellence to ensure warfighters have next generation advantages in advanced weapons, aircraft, missile defense and space.”

Recognized for Strategic Excellence, Trident is instrumental in supporting Northrop Grumman by delivering innovative and cost-effective military and security solutions to give its customers the advantage in a complex world.

“We are honored to be recognized by Northrop Grumman as a partner delivering strategic excellence,” said Daniel Hibbard, president of space electronic systems at Trident Systems. “Our partners turn to us to provide purpose-built solutions for their most challenging missions. We pride ourselves on the flexibility and interoperability of our open architecture systems allowing ease and speed of integration with third-party parts, keeping cost down for our customers while delivering proven and reliable flight units on schedule.”

Learn more about Trident’s leading-edge space solutions.

About Trident Systems
Trident Systems has cemented its reputation for over three decades as a leader in multi-function space electronics and integrated C4ISR solutions. Using a rapid response, radiation effects-mitigated design approach for deployment in harsh environments, Trident has delivered semi-custom, high-performance mission computing solutions at significantly lower cost than traditional space processors. The company is also relied upon by a range of military and federal organizations dedicated to the design, development and deployment of innovative command and control systems for the safety and survivability of our armed forces and for the protection of the National Capital Region. For more information, please visit https://tridsys.com/.

About LightRidge Solutions
LightRidge Solutions brings leading capabilities that address demanding national security space and defense needs. Our capabilities include advanced space payloads and on-orbit processing technologies, multi-orbit space domain awareness and protection systems, laser communications and airborne survivability systems, as well as mission autonomy software. LightRidge’s innovative and highly reliable purpose-built systems provide high performance at lower costs and on shorter delivery schedules than traditional systems. These systems enable the transition to more resilient and affordable space architectures for the U.S. military and intelligence communities, as well as select commercial and international customers. For more information, please visit https://www.lightridgesolutions.com/ and visit us on LinkedIn.

Contact: Diane Hockenberry       
703-244-0226

View original content to download multimedia:https://www.prnewswire.com/news-releases/trident-systems-recognized-by-northrop-grumman-with-supplier-excellence-award-302392107.html

SOURCE LightRidge Solutions Holding LLC

Continue Reading

Technology

Canada launches first-ever Artificial Intelligence Strategy for the federal public service

Published

on

By

WATERLOO, ON, March 4, 2025 /CNW/ – Artificial intelligence (AI) has the potential to significantly improve government operations and services for Canadians. The safe, ethical and responsible use of AI is a priority for the federal government.

Today, the Honourable Ginette Petitpas Taylor, President of the Treasury Board, launched Canada’s first AI Strategy for the federal public service at the University of Waterloo, a hub for emerging technology and Canadian talent. Announcing the Strategy at the Waterloo Data and Artificial Intelligence Institute underscores the government’s commitment to research and innovation in AI to improve digital service delivery.

The Strategy was developed through extensive engagement with stakeholders, including the public and experts from a range of disciplines. Involving Canadians in its development was a key feature to ensure it reflected the democratic values we continue to prioritize today.

Accordingly, the Strategy will advance 4 key priority areas: establishing an AI Centre of Expertise to support and to help coordinate government-wide AI efforts; ensuring AI systems are secure and used responsibly; providing training and talent development pathways; and building trust through openness and transparency in how AI is used.

The Government of Canada will use AI to enhance its scientific and research capabilities, improve the productivity of its workforce, and deliver enhanced digital services to Canadians. This work will strengthen Canada’s role as a leader in AI.

Through this Strategy, the government will be able to implement AI more efficiently by removing barriers to AI adoption that exist in departmental processes and legacy systems. It will promote more effective collaboration between government departments to identify successful AI-driven initiatives and implement them more widely. As well, the Strategy strengthens transparency and accountability for the responsible use of AI, ensuring the development of AI solutions that are ethical, inclusive, and responsive to the needs of the public.

Quote

“Today’s announcement positions Canada as a global leader in the responsible use of AI in the public service. With the first-ever AI Strategy for the public service, we’re laying the groundwork to leverage the potential of this technology to deliver the best possible services to Canadians.”

–       The Honourable Ginette Petitpas Taylor, President of the Treasury Board

Quick Facts

The AI Strategy supports Canada’s Digital Ambition, which outlines how the government will provide Canadians with modern services that are secure, reliable, user-centric and barrier-free. 

From May to October 2024, as part of the development of the Strategy, the Government of Canada sought input from various groups through engagement and consultation, and in January 2025 published a “What We Heard” report summarizing the views shared by Canadians.

Every 2 years, the government will aim to update the Strategy to ensure it remains relevant and responsive.

Guide on the use of Generative AI is available for public servants to assess the risks associated with generative AI and use it responsibly.

Associated Links

AI Strategy for the Federal Public ServiceStatement from the President of the Treasury Board on advancing digital government – Canada.caMinister Anand launches public consultations on Canada’s first artificial intelligence strategy for the federal public service – Canada.caMinister Anand hosts AI roundtable to inform the first-ever artificial intelligence strategy for the federal public service – Canada.caResponsible use of artificial intelligence in government – Canada.ca

Stay connected
X: @TBS_Canada
Facebook: https://www.facebook.com/TBSCanada
LinkedIn: https://www.linkedin.com/company/tbs-sct/

SOURCE Treasury Board of Canada Secretariat

Continue Reading

Technology

Dr. Randi Boyette Joins American Med Spa Association as Corporate Development Advisor

Published

on

By

The American Med Spa Association (AmSpa) proudly welcomes Randi Boyette, PhD, as its new Corporate Development Advisor. With an extensive background in medical aesthetics, business strategy, marketing, and technology, Dr. Boyette will play a pivotal role in expanding AmSpa’s reach, fostering strategic partnerships, and enhancing the resources available to medical spa professionals nationwide.

CHICAGO, March 4, 2025 /PRNewswire-PRWeb/ — Dr. Boyette has spent her career at the intersection of medical aesthetics, corporate growth, and business development. She has worked with thousands of medical spas and clinics, helping them scale, refine operations, and optimize profitability. Her expertise in guiding businesses through market changes, implementing high-impact growth strategies, and aligning organizations with emerging trends makes her a valuable addition to the AmSpa leadership team.

“AmSpa has been instrumental in shaping the medical aesthetics industry by providing critical education, legal guidance, and business strategies,” said Dr. Boyette.

“AmSpa has been instrumental in shaping the medical aesthetics industry by providing critical education, legal guidance, and business strategies,” said Dr. Boyette. “I am honored to join this team and look forward to helping AmSpa members strengthen their businesses and navigate the evolving aesthetics landscape.”

As the industry continues to evolve, AmSpa remains committed to delivering innovative resources and opportunities that empower medical spa professionals to grow their businesses while staying compliant with industry regulations. Dr. Boyette’s appointment further strengthens AmSpa’s ability to support members with expert-driven insights and high-level strategic development.

Alex Thiersch, JD, Founder and CEO of AmSpa, shared his enthusiasm: “Randi has played a major role in shaping the aesthetics industry, not just through marketing but by directly helping practices scale and succeed. Her experience, connections, and hands-on approach will be a tremendous asset to our members.”

About the American Med Spa Association (AmSpa)
The American Med Spa Association (AmSpa) provides business, legal and clinical training and resources to medical spas and aesthetic practices throughout the country. AmSpa’s events—including Medical Spa Boot Camps, Academy for Injection Anatomy trainings and Medical Spa Show—provide business and legal best-practices to anyone entering the medical spa space or looking to improve their existing practice. AmSpa Members receive access to legal summaries of laws governing medical spas in their state, discounts, a robust and growing webinar library, and many other benefits. For more information visit http://www.americanmedspa.org, call 312-981-0993, or email info@americanmedspa.org.

Media Contact

Karen Spinelli, AmSpa, 872-246-0300, karen@americanmedspa.org, www.americanmedspa.org

Twitter Facebook

View original content:https://www.prweb.com/releases/dr-randi-boyette-joins-american-med-spa-association-as-corporate-development-advisor-302391852.html

SOURCE AmSpa

Continue Reading

Trending