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Jaws Mustang Acquisition (JWSM) has suspended its previously announced hospitality business combination plans. The company had entered into a non-binding letter of intent with Starwood Capital Group on March 8, 2024, regarding a portfolio of hotels including the 1 Hotel Central Park in Manhattan. However, Starwood Capital accepted an offer from Host Hotels & Resorts (HST) to purchase the 1 Hotel Central Park, with the acquisition completed on July 31, 2024. JWSM has been unable to identify suitable replacement hotel properties for the portfolio and has consequently suspended the business combination pursuit.
JAWS Mustang Acquisition Corporation (NYSE: JWSM) has announced its transfer from the New York Stock Exchange to NYSE American LLC. This strategic decision, set to take effect around March 14, 2023, is driven by the more favorable listing requirements on NYSE American.
JWSM's voluntary delisting from NYSE aims to enhance its compliance capabilities while maintaining its current reporting practices to the Securities and Exchange Commission. The company is committed to transparency and will continue to pursue its operational objectives following this transition.
JAWS Mustang Acquisition Corporation (JWSM) announced its decision to transfer its listing from the New York Stock Exchange to NYSE American, effective around March 14, 2023. This strategic move aims to benefit from more favorable continued listing requirements. JWSM will voluntarily delist from the NYSE but will maintain its commitment to filing the same periodic reports with the SEC. The transfer signifies JWSM's focus on enhancing operational efficiency and aligning with a platform that better suits its business model.
