Jaws Mustang Acquisition Corporation (NYSEAM:JWSM) signed a non-binding letter of intent to acquire Starwood Capital Operations, LLC on March 8, 2024. Under the terms of the LOI, following the consummation of the Business Combination, the combined public company would be listed on a national securities exchange. Under the terms of the LOI, the combined public company would become the direct or indirect owner of the Starwood Capital Entities? interests in the following ten properties constituting the Initial Portfolio: 1 Hotel Brooklyn Bridge; 1 Hotel Central Park; and The De Vere Portfolio.

Completion of the Business Combination is subject to, among other matters, the negotiation of a definitive agreement providing for the transaction, satisfaction of the conditions negotiated therein, various conditions and contingencies, including securing the Starwood Capital?s requisite investor consents, third party consents and regulatory review, and approval of the transaction by the board of directors and shareholders of Jaws. Santander US Capital Markets LLC is serving as equity capital markets advisor and financial advisor to Jaws.