DoubleDragon Corp. aims to finalize a business combination agreement with a SPAC by the first half of next year and list on the Nasdaq.
“We confirm that DoubleDragon Corporation, through its Singapore-registered subsidiary Hotel101 Global Pte. Ltd., is considering the SPAC route as one of its options to accelerate the expansion of Hotel101 globally as we have duly disclosed last August 8, 2023. As for the latest progress related to this, we expect and aim to sign the business combination agreement with a SPAC company by the first half of 2024, instead of the initially planned NASDAQ IPO in 2026,” the company said in response to the Philippine Stock Exchange’s request for clarification of a report by Bilyonaryo.com.
The company emphasized the unique and novel concept of Hotel101, asserting that its asset-light and highly portable business model makes it an ideal candidate for a Nasdaq listing.
DoubleDragon anticipates that Hotel101’s revenues, with a potential absence of concentration in any single country, could eventually span over 100 countries globally. Read more.
