Selina Hospitality PLC Provides Update Regarding Fundraising And Liability Management Efforts
Portfolio Pulse from Benzinga Newsdesk
Selina Hospitality PLC (NASDAQ: SLNA) announced plans for fundraising and liability management, including a potential $68 million in strategic investments led by Osprey Investments Limited and others. The company aims to restructure its $147.5 million 6.00% convertible senior notes due 2026, with agreements in principle for a $28 million equity financing and an optional $40 million equity financing. The restructuring includes converting some debt to equity, extending maturity dates, and securing the Selina brand as collateral. The transactions are subject to definitive agreements and shareholder approval, with the goal of strengthening the balance sheet and achieving profitability.

December 04, 2023 | 1:04 pm
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Selina Hospitality PLC is planning to raise up to $68 million in strategic investments and restructure its convertible senior notes to improve its financial position. The restructuring includes a $28 million equity financing and an optional $40 million equity financing, which could lead to a more robust capital structure and liquidity for the company.
The news of potential strategic investments and debt restructuring is likely to be viewed positively by investors as it indicates steps towards financial stability and growth. The equity financing and debt-to-equity conversions are expected to strengthen the company's balance sheet, which could lead to an increase in investor confidence and potentially a positive short-term impact on the stock price.
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