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

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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

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NASA Awards Launch Service for Mission to Study Storm Formation

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WASHINGTON, March 4, 2025 /PRNewswire/ — NASA has selected Firefly Aerospace Inc. of Cedar Park, Texas, to provide the launch service for the agency’s Investigation of Convective Updrafts (INCUS) mission, which aims to understand why, when, and where tropical convective storms form, and why some storms produce extreme weather. The mission will launch on the company’s Alpha rocket from NASA’s Wallops Flight Facility in Virginia.

The selection is part of NASA’s Venture-Class Acquisition of Dedicated and Rideshare (VADR) launch services contract. This contract allows the agency to make fixed-price indefinite-delivery/indefinite-quantity awards during VADR’s five-year ordering period, with a maximum total value of $300 million across all contracts.

The INCUS mission, comprised of three SmallSats flying in tight coordination, will investigate the evolution of the vertical transport of air and water by convective storms. These storms form when rapidly rising water vapor and air create towering clouds capable of producing rain, hail, and lightning. The more air and water that rise, the greater the risk of extreme weather. Convective storms are a primary source of precipitation and cause of the most severe weather on Earth.

Each satellite will have a high frequency precipitation radar that observes rapid changes in convective cloud depth and intensities. One of the three satellites also will carry a microwave radiometer to provide the spatial content of the larger scale weather observed by the radars. By flying so closely together, the satellites will use the slight differences in when they make observations to apply a novel time-differencing approach to estimate the vertical transport of convective mass.

NASA selected the INCUS mission through the agency’s Earth Venture Mission-3 solicitation and Earth System Science Pathfinder program. The principal investigator for INCUS is Susan van den Heever at Colorado State University in Fort Collins. Several NASA centers support the mission, including Langley Research Center in Hampton, Virginia, the Jet Propulsion Laboratory in Southern California, Goddard Space Flight Center in Greenbelt, Maryland, and Marshall Space Flight Center in Huntsville, Alabama. Key satellite system components will be provided by Blue Canyon Technologies and Tendeg LLC, both in Colorado. NASA’s Launch Services Program, based at the agency’s Kennedy Space Center in Florida, manages the VADR contract.

To learn more about NASA’s INCUS mission, visit:

https://science.nasa.gov/mission/incus

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SOURCE NASA

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SK Telecom to Strengthen AIDC Capabilities with Schneider Electric

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BARCELONA, Spain, March 4, 2025 /PRNewswire/ — SK Telecom (NYSE: SKM) today announced a strategic partnership with Schneider Electric, a global leader in energy management and automation, at the Mobile World Congress 2025 (MWC25). The partners will collaborate on mechanical, electrical and plumbing (MEP) systems for artificial intelligence data centers (AIDCs).

Schneider Electric is a leading company in power and distribution technology for AI data centers, offering comprehensive integrated infrastructure solutions that cover every stage from design and construction to operation.

AIDC MEP systems play a critical role in ensuring the stability and efficiency of AIDCs from initial construction to full operational capability.

Through this partnership, the two companies will first cooperate on the construction and development of hyperscale AIDCs in key regions in Korea. Their collaboration will span the entire MEP sector, including component and product solutions as well as consulting, and will serve as a foundation for expanding AIDC projects into global markets.

By combining SK Telecom’s AIDC expertise with Schneider Electric’s capabilities in MEP systems, power, cooling and integrated data center management, the companies expect to generate significant synergies.

“Our partnership with Schneider Electric, one of the world’s leading AIDC solution providers, will not only strengthen SK Telecom’s competitiveness in AIDCs but also accelerate our global expansion,” said Ryu Young-sang, CEO of SK Telecom.

“Through this collaboration, we expect to create powerful synergies by combining SK Telecom’s expertise in AIDC operations with our advanced capabilities, ultimately delivering enhanced efficiency and performance in AIDC infrastructure,” said Pankaj Sharma, Executive Vice President of Schneider Electric.

About SK Telecom

SK Telecom has been leading the growth of the mobile industry since 1984. Now, it is taking customer experience to new heights by extending beyond connectivity. By placing AI at the core of its business, SK Telecom is rapidly transforming into an AI company with a strong global presence. It is focusing on driving innovations in areas of AI Infrastructure, AI Transformation (AIX) and AI Service to deliver greater value for industry, society, and life.

For more information, please contact skt_press@sk.com or visit our LinkedIn page www.linkedin.com/company/sk-telecom.

View original content:https://www.prnewswire.co.uk/news-releases/sk-telecom-to-strengthen-aidc-capabilities-with-schneider-electric-302392303.html

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Dover to Present at the J.P. Morgan Industrials Conference

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DOWNERS GROVE, Ill., March 4, 2025 /PRNewswire/ — Dover Corporation (NYSE: DOV) announced that its President and Chief Executive Officer, Richard J. Tobin, will speak at the 2025 J.P. Morgan Industrials Conference in New York City, NY, on Tuesday, March 11, 2025, at 9:00 am ET.

A link to the live audio webcast of the presentation will be available on dovercorporation.com, and the replay will be archived on the website for 90 days.

About Dover:

Dover is a diversified global manufacturer and solutions provider with annual revenue of over $7 billion. We deliver innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services through five operating segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions and Climate & Sustainability Technologies. Dover combines global scale with operational agility to lead the markets we serve. Recognized for our entrepreneurial approach for over 70 years, our team of approximately 24,000 employees takes an ownership mindset, collaborating with customers to redefine what’s possible. Headquartered in Downers Grove, Illinois, Dover trades on the New York Stock Exchange under “DOV.” Additional information is available at dovercorporation.com.

Investor Contact:
Jack Dickens 
Vice President – Investor Relations
(630) 743-2566
jdickens@dovercorp.com

Media Contact:
Adrian Sakowicz
Vice President – Communications
(630) 743-5039
asakowicz@dovercorp.com 

View original content to download multimedia:https://www.prnewswire.com/news-releases/dover-to-present-at-the-jp-morgan-industrials-conference-302391927.html

SOURCE Dover

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