02:50 PM EDT, 06/02/2025 (MT Newswires) -- Hotel101 Global and special purpose acquisition company JVSPAC Acquisition ( JVSA ) have received regulatory approval to proceed with a tie-up.

The companies said Monday that the Securities and Exchange Commission has declared effective Hotel101's registration statement on form F-4 for their planned business combination. The proposed business combination values the one-room hotel chain, which is a subsidiary of Philippine-listed DoubleDragon, at an equity value of $2.3 billion.

The combined company will operate as Hotel101 Global Holdings and will be listed on Nasdaq under the "HBNB" ticker.

The business combination remains subject to regulatory and shareholder approvals and other closing conditions.

JVSPAC shareholders will vote on the proposed business combination at an extraordinary meeting scheduled for June 24.