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Selina Hospitality Faces Default and Potential Delisting

Selina Hospitality Faces Default and Potential Delisting

Selina Hospitality (SLNA) has released an update.

Selina Hospitality PLC is grappling with severe liquidity issues, having defaulted on a $455,250.38 interest payment due to Inter-American Investment Corporation, which could lead to acceleration of their $44.1 million debt and trigger cross-defaults. The company’s attempts to secure additional funding have failed, and without new investments, they face potential insolvency and asset sales. Furthermore, non-compliance with Nasdaq’s filing requirements is likely to result in the delisting of their securities, although trading may continue in over-the-counter markets.

For further insights into SLNA stock, check out TipRanks’ Stock Analysis page.

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