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Okada Manila to merge with Jason Ader’s SPAC for Nasdaq listing

19th October 2021 10:11 am GMT

The Philippines’ leading casino resort operator Okada Manila has entered into a merger agreement with Miami-based special purpose acquisition company 26 Capital Acquisition Corp, which will result in Okada Manila being listed on New York’s Nasdaq stock exchange.

The transaction implies an enterprise value of $2.6bn for Okada Manila and is anticipated to provide the company with up to $275m in cash.

Upon closing of the transaction, the enlarged company will be listed on Nasdaq through [...]

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