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JVSPAC Acquisition Corp. (NASDAQ:JVSA) announced the completion of its business combination with Hotel101 Global Holdings Corp. on June 30, 2025, resulting in both JVSPAC and Hotel101 Global becoming wholly owned subsidiaries of Hotel101 Global Holdings (HBNB). The information is based on a press release statement filed with the Securities and Exchange Commission.
Following the merger, each outstanding Class A and Class B ordinary share of JVSPAC was converted into one ordinary share of HBNB. In connection with the transaction, JVSPAC entered into an assignment, assumption and amendment agreement with its sponsor and HBNB, transferring its rights and obligations under a prior registration rights agreement to HBNB.
On June 30, 2025, JVSPAC notified the Nasdaq Stock Market LLC of the completion of the business combination and requested suspension of trading of its securities, including Class A ordinary shares, units, and rights, effective July 1, 2025. Nasdaq subsequently filed a Form 25-NSE with the SEC to delist JVSPAC’s securities. JVSPAC intends to file a Form 15 to deregister its securities under Section 12(b) of the Securities Exchange Act and suspend its reporting obligations.
As a result of the transaction, a change in control occurred, with JVSPAC now a wholly owned subsidiary of HBNB. The Investment Management Trust Agreement between JVSPAC and Continental Stock Transfer & Trust Company was terminated as part of the transaction.
In connection with the completion of the merger, JVSPAC’s chief executive officer and chairman, Albert Wong, and chief financial officer and director, Claudius Tsang, resigned from their positions. Directors Frank Clifford Chan, Alex Lau, and Krešimir Coric also stepped down. The company stated these resignations were not due to any disagreements related to company operations, policies, or practices.
Ordinary shares of HBNB began trading on Nasdaq under the symbol “HBNB” on July 1, 2025.
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