JAWS Mustang Acquisition Corp

OTC Pink - Current Information:JWSMFUnited States

Nov 1, 2024

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• Jaws Mustang Acquisition Suspends Pursuit of Hospitality Business Merger, from 4:54PM ET on Friday Nov 01, 2024 by MT Newswires

  4:54PM ET on Friday Nov 01, 2024 by MT Newswires
  Companies Mentioned: HST, JWSMF
  04:54 PM EDT, 11/01/2024 (MT Newswires) -- Jaws Mustang Acquisition (JWSM) said late Friday it has suspended pursuit of its previously disclosed hospitality business merger following a failed deal with Starwood Capital affiliates. The company said i...

• Jaws Mustang Acquisition Corporation Suspends Pursuit of Hospitality Business Combination, from 4:18PM ET on Friday Nov 01, 2024 by PR Newswire

  4:18PM ET on Friday Nov 01, 2024 by PR Newswire
  Companies Mentioned: JWSMF

  Jaws Mustang Acquisition Corporation (NYSEA: JWSM), a special purpose acquisition company ("Jaws"), has suspended pursuit of its previously announced hospitality business combination. On March 8, 2024, Jaws entered into a non-binding letter of intent ("non-binding LOI") with investment affiliates of Starwood Capital Group (collectively, the "Starwood Capital Entities") that owned interests in a portfolio of hotels (the "Initial Portfolio"), including the 1 Hotel Central Park in Manhattan ("1 CP"), for a potential business combination. Subsequently, the Starwood Capital Entities received an offer from Host Hotels & Resorts, Inc. (NYSE: HST) to purchase the 1 CP on terms which the Starwood Capital Group Entities concluded were in the best interest of their investors to accept. HST's acquisition of the 1 CP was consummated on July 31, 2024. To date, Jaws has not identified one or more additional hotel interests that would constitute a suitable replacement for the 1 CP in the Initial Portfolio. At the present time, Jaws has suspended further pursuit of such previously announced hospitality business combination.

• Jaws Mustang Acquisition Corporation Suspends Pursuit of Hospitality Business Combination, from 4:18PM ET on Friday Nov 01, 2024 by Dow Jones

  4:18PM ET on Friday Nov 01, 2024 by Dow Jones
  Companies Mentioned: JWSMF
  
  Jaws Mustang Acquisition Corporation Suspends Pursuit of Hospitality Business Combination
  
  PR Newswire
  
  MIAMI BEACH, Fla., Nov. 1, 2024
  
  MIAMI BEACH, Fla., Nov. 1, 2024 /PRNewswire/ -- Jaws Mustang Acquisition Corporation (NYSEA: JWSM), a special purpose acquisition company ("Jaws"), has suspended pursuit of its previously announced hospitality business combination. On March 8, 2024, Jaws entered into a non-binding letter of intent ("non-binding LOI") with investment affiliates of Starwood Capital Group (collectively, the "Starwood Capital Entities") that owned interests in a portfolio of hotels (the "Initial Portfolio"), including the 1 Hotel Central Park in Manhattan ("1 CP"), for a potential business combination. Subsequently, the Starwood Capital Entities received an offer from Host Hotels & Resorts, Inc. (NYSE: HST) to purchase the 1 CP on terms which the Starwood Capital Group Entities concluded were in the best interest of their investors to accept. HST's acquisition of the 1 CP was consummated on July 31, 2024. To date, Jaws has not identified one or more additional hotel interests that would constitute a suitable replacement for the 1 CP in the Initial Portfolio. At the present time, Jaws has suspended further pursuit of such previously announced hospitality business combination.
  

• Press Release: Jaws Mustang Acquisition Corporation Suspends Pursuit of Hospitality Business Combination, from 4:18PM ET on Friday Nov 01, 2024 by Dow Jones

  4:18PM ET on Friday Nov 01, 2024 by Dow Jones
  Companies Mentioned: JWSMF

• DJ Barry Sternlicht SPAC Jaws Mustang Acquisition Halted for News -- Market Talk, from 2:53PM ET on Friday Nov 01, 2024 by Dow Jones

  2:53PM ET on Friday Nov 01, 2024 by Dow Jones
  Companies Mentioned: JWSMF
  
  1453 ET - Jaws Mustang Acquisition, whose founders include Barry Sternlicht, is halted due to news pending. Since the SPAC's March announcement of a non-binding letter of intent for certain hotels affiliated with Sternlicht's Starwood Capital Group, updates have been sparse. In its August filing, Jaws Mustang reiterated that the transaction is subject to negotiation of a definitive agreement. The LOI called for the formation of a hospitality company that would become the owner of Starwood entities' interests in an initial portfolio with 10 properties including 1 Hotel Brooklyn Bridge and 1 Hotel Central Park. Sternlicht participated in SPACs that merged with Cano Health and Velo3D. The Jaws Hurricane and Jaws Juggernaut vehicles shut down in 2023 without completing business combinations. (josh.beckerman@wsj.com)