C02019-2024

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
Apr 8, 2024
2. SEC Identification Number
30354
3. BIR Tax Identification No.
287191423000
4. Exact name of issuer as specified in its charter
DoubleDragon Corporation
5. Province, country or other jurisdiction of incorporation
Republic of the Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
DD Meridian Park Bay Area Brgy 76 Zone10, San Rafael, Pasay City, Metro Manila, Philippines Postal Code 1302
8. Issuer's telephone number, including area code
+63288567111
9. Former name or former address, if changed since last report
N/A
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common 2,345,028,600
Preferred 100,000,000
Total Debt (In Millions of Pesos) 56,047.60
11. Indicate the item numbers reported herein
Item 9

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

DoubleDragon CorporationDD

PSE Disclosure Form 4-30 - Material Information/Transactions References: SRC Rule 17 (SEC Form 17-C) and
Sections 4.1 and 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

HOTEL101 GLOBAL SIGNS DEFINITIVE MERGER AGREEMENT WITH JVSPAC ACQUISITION CORPORATION TO PUBLICLY LIST ON THE NASDAQ

HOTEL101 IS EXPECTED TO HAVE AN EQUITY VALUE OF OVER US$2.3 BILLION (P130 BILLION PESOS) FOLLOWING COMPLETION OF THE TRANSACTION

UPON COMPLETION OF THE PROPOSED BUSINESS COMBINATION TRANSACTION, THE COMBINED ENTITY IS EXPECTED TO BE PUBLICLY LISTED ON THE NASDAQ UNDER THE TICKER SYMBOL “HBNB”
Background/Description of the Disclosure

Hong Kong, April 8, 2024 – The Singapore-headquartered subsidiary of Philippine-listed investment company DoubleDragon Corporation, Hotel101 Global Pte. Ltd. and affiliates (“HOTEL101" or "HBNB") and JVSPAC Acquisition Corporation (Nasdaq: JVSA) (“JVSPAC”) announced today that they have entered into a definitive merger agreement. Hotel101 is a hotel prop-tech operator pioneering a globally standardized, asset-light “condotel” business model. Upon completion of the proposed business combination transaction, the combined entity is expected to be publicly listed on the NASDAQ under the ticker symbol “HBNB.” And to become a majority-owned subsidiary of DoubleDragon Group, and the fresh equity to increase its capital base, and to further strengthen the balance sheet of DoubleDragon Corporation.

Hotel101 is expected to have an equity value of over US$2.3 billion following completion of the transaction, which is expected to close during the second half of 2024 subject to regulatory and shareholder approvals and other customary closing conditions.

DoubleDragon positions Hotel101 Global to very soon become the first ever Filipino company whose majority-owned subsidiary to list via SPAC in the US Nasdaq Stock Exchange, and seen to become a major brand, concept and business model export of the Philippines, given its Asset-Light business model could become one of the major source of US Dollar inflow to the Philippines.

Management believes that Hotel101 is a global “one room” hotel chain poised to disrupt the tourism industry by offering identical, standardized hotel rooms around the world, creating what management believes to be unbeatable efficiency, simplicity, and value. Management believes Hotel101s are efficient to build, maintain, and operate – as well as to scale and expand through direct development, joint venture partnerships, and licensing.

Management believes that the Hotel101 platform is unlike anything available in any part of the world today: while it is similar to other short-term rental platforms because its inventory is generally owned by third-party individual condominium unit owners who can opt to list their unit on the Hotel101 platform, it is able to deliver consistency, security, and predictability for its guests, as well as arguably higher acceptance in the communities where it operates as all Hotel101 properties are purposely built as hospitality assets. The global opportunity that management sees in the hospitality space is that of standardization, which management believes brings unbeatable efficiency, especially for the value segment. In addition, Hotel101’s proprietary app adopts dynamic pricing for its room rates and is planned to offer self-check in, simplified by the availability of just one type of room.

(See complete details in attached material.)
Other Relevant Information

Final Terms and Conditions and Consideration will be finalized and will be disclosed accordingly upon closing of the business merger transaction with NASDAQ listed JVSPAC Acquisition Corp.
Filed on behalf by:
Name Jose Roelph Desales
Designation Investor Relations Head