proptech acquisition corp ipo
The SPAC is the first vehicle by this executive group. Additional disclosure: This report is intended for educational purposes only and is not financial, legal or investment advice. The IPO also provided for one-half of one (and 1/10th of one right) warrant per share, exercisable at $11.50 per share on the later of: (i) the completion of an initial business combination and (ii) one (1) year from the date of the prospectus, and expiring 5 years after completion of the initial business combination or earlier upon redemption or liquidation. Blockchain Moon is a blank check company with no business operations and only a small Jacksonville office. If it fails to do so, shareholders will be able to redeem their shares/units for the remaining proceeds from the IPO held in trust. Ming Yuan Cloud Global Offering Prospectus: https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0915/2020091500029.pdf, https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0929/2020092900364.pdf, https://www.sec.gov/Archives/edgar/data/1809587/000104746920004229/a2242063zf-1.htm. PropTech Acquisition Corp. intends to focus on businesses that provide technological innovation to the real estate industry, or PropTech, and will be led by Thomas Hennessy, as Chairman of the Board, Co-ChiefExecutive Officer and President. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. Alset Capital Acquisition Corp. ( NASDAQ: ACAX) has raised $86.25 million from an IPO at a price of $10.00 per unit, according to the terms of its most recent S-1 regulatory filing. 22/02 Rockend Technology Pty Ltd. completed the acquisition of PropTech Group Limited. I have no business relationship with any company whose stock is mentioned in this article. PropTech Acquisition Corp. intends to focus on businesses that provide technological innovation to the real estate industry, or "PropTech", and will be led by Thomas Hennessy . Ellenoff Grossman & Schole LLP and Graubard Miller, were Issuers Counsel and Underwriters Counsel, respectively. Apart from her involvement at PropTech Institute, Alicia is also a corporate lawyer and was involved in a number of notable transactions in the real estate sector including. When it comes to the evolution of PropTech, my first thought relates to the recent surge in growth capital available to the best-performing European PropTech start-ups. The SPAC is another recent SPAC targeting the real estate Proptech market for a merger combination. The SPAC has 15 months to complete a merger (initial business combination). I'm the founder of IPO Edge on Seeking Alpha, a research service for investors interested in IPOs on US markets. While MURF management has extensive industry experience, they don't have a previous SPAC track record, so I'm on Hold for the SPAC. With data drawn from Pitchbook, we can calculate that in the 693 days between their Series B and Series C announcements, Plentifics valuation increased at an average daily rate of 0.175%. The offering was made only by means of a prospectus. I wrote this article myself, and it expresses my own opinions. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Type a symbol or company name. PropTech IPOs - a case study of two recent PropTech listings, Alicia is the President and Co-Founder of PropTech Institute. The article Proptech-focused SPAC Shelter Acquisition files for a $200 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. The lead executives of the SPAC have no obvious prior operating experience in real estate or proptech companies. Although all of them are based in the US, we can expect to see a number of late-stage European rounds in the next couple of years. Looking for more investing ideas like this one? This article is not investment advice and does not constitute any offer or solicitation to subscribe or redeem. The SPAC may issue additional stock/units to effect a contemplated merger. Post-IPO, if Valor's stake is valued at . KE holdings is the entity that holds Lianjia, a leading real estate brokerage in China established for more than 18 years, which in turn holds Beike, an integrated online and offline platform for property transactions and services. While we may pursue an initial business combination target in any stage of its corporate evolution or in any industry or sector, we currently intend to concentrate our efforts in identifying businesses that provide technological innovation to the real estate industry, or PropTech. According to its 2020 Interim Report, 81 of Top 100 property developers in China are its customers in respect of ERP solutions for the six months ended June 30, 2020 and 95 of Top 100 property developers in China are its customers in respect of SaaS products for the six months ended June 30, 2020. Across the globe, PropTech startups and investors are sprinting ahead for growth. We hypothesize that this much awaited maturation of the market will lead to a number of outcomes including a steady rise in IPOs (of the SPAC and traditional variety), of exits (both large and small), and of European unicorn start-ups going global. The. Item 1.01. On November 29, 2022, PTIC completed its business combination withRW National Holdings, LLC(d/b/a Appreciate), a leading end-to-end single family rental (SFR) marketplace and management platform. Conditions to the SPAC completing an initial business combination include a requirement to purchase one or more businesses equal to 80% of the net assets of the SPAC and a majority of voting interests voting for the proposed combination. Terms of Use. RT=Real-Time, EOD=End of Day, PD=Previous Day. Other than SPACs, PropTech startup Housi, is reported to be preparing for an IPO on the Brazilian stock exchange. Start with a 14-day Free Trial. PropTech Investment Corporation II and Appreciate Announce Closing of Business Combination, PropTech Investment Corporation II Stockholders Approve Business Combination with Appreciate, PropTech Investment Corporation II Announces Filing and Mailing of Definitive Proxy Statement and Special Meeting Date in Connection with Proposed Business Combination with Appreciate. The SCOOP Rating does not . You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. The SPAC (Special Purpose Acquisition Company) intends to pursue a merger with a company in the sectors of real estate or 'Proptech' industries with their primary business operations outside of China. Intercontinental Exchange, the owner of the New York Stock Exchange, has agreed to acquire mortgage data firm Black Knight for $13.1 billion, the companies announced Wednesday. The Company is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. San Diego, California-based Murphy sold 13.225 million units of Class A common stock at a price of $10.00 per unit for gross proceeds of approximately $132.25 million, not including the sale of customary underwriter options. PropTech Institute is a non-profit organisation dedicated to promoting PropTechthe application of technology to property. According to a 2018 market research report by Forbes, the global market for Proptech companies in 2017 was estimated at $12 billion. from the closing of an initial business combination and expiring five years after completion of the initial business combination or earlier upon redemption or liquidation. Join now to get an insider's 'edge' on new issues coming to market, both before and after the IPO. By applying this same growth rate to a hypothetical Series D round at some point in the future, Plentific could reach unicorn status (1 billion) in late 2023. As a result, over the past two to three years, many promising PropTech companies have gone public to raise capital through . Renaissance Capital->. Acquisitions, IPOs, and the evolution of PropTech | by Faisal Butt | Pi Labs Insights | Medium 500 Apologies, but something went wrong on our end. Only whole warrants are exercisable and will trade. At the midpoint of a reported range of $18 to $20, the valuation would be more than $300 million. I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. Copy and paste multiple symbols separated by spaces. Transaction Overview Capitalworks has Viveon Health Acquisition Corp.(NYSE American: VHAQ)announced that it has signed a letter of intent (LOI) to combine with a platform focusing on cognitive care for the elderly and those withspecial needs. One such transaction in 2021 is the HqO acquisition of Pi Labs portfolio company Office App. Murphy Canyon Acquisition Corp. (NASDAQ:MURF) has raised $132.25 million from an IPO at a price of $10.00 per unit, according to the terms of its most recent S-1/A regulatory filing. So, in a sense, investing in a SPAC can be likened to investing in a venture capital firm as a limited partner. The Washington, DC-based company plans to raise $175 million by offering 17.5 million units at $10. We create a better ecosystem for PropTech through education, collaboration and driving change. On February 23, 2023, the company notified Sagaliam that since the SPAC did not receive subscription agreement commitments before December 15, 2022, it has chosen to terminate the merger. PropTech Acquisition Corp PropTech Acquisition Corp. NEW YORK, Nov. 26, 2019 (GLOBE NEWSWIRE) -- PropTech Acquisition Corporation (NASDAQ: PTACU) (the Company) announced today that it closed its initial public offering of 17,250,000 units, including 2,250,000 units issued pursuant to the full exercise by the underwriter of its over-allotment option. Market Data copyright 2023 QuoteMedia. AMAZON.COM, INC. APPLE INC. TESLA, INC. META PLATFORMS, INC. NVIDIA CORPORATION. To illustrate this, lets do a quick back-of-envelope projection on Plentific based on recent valuations. Doodlin, a South Korean startup that operates Greeting, a recruitment management solution for enterprises, announced on Feb. 15 that it has raised KRW 10.6 billion in funding.This comes 14 months after the company raised KRW 4.3 billion in Series A funding in 2021. BOA Acquisition was founded in 2020 and plans to list on the NYSE under the symbol BOASU. Additional disclosure: This report is intended for educational purposes only and is not financial, legal or investment advice. Is this happening to you frequently? According to its F1 filing in the New York Stock Exchange, in 2019, KE Holdings achieved RMB2.1 trillion total GTV, 2.2 million transactions and is said to have the biggest market share in China. I wrote this article myself, and it expresses my own opinions. When conducting a search of M&A activity of companies which classify themselves as both real estate and technology, 2021 clearly emerged as a record year (see chart below). SEC TS Innovation Acquisitions Corp. Form S-1: https://www.sec.gov/Archives/edgar/data/1826000/000119312520286550/d884122ds1a.htm. PropTech Acquisition Corp. (PTACU), announced the pricing of their $150 million SPAC IPO this evening. Founders from the Pi Labs ecosystem gathered from all parts of the UK, elsewhere in Europe, as well as several from as far as Israel. Management doesn't have an operating track record or previous experience with SPACs, so I'm on Hold on ACAX. Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products. I have no business relationship with any company whose stock is mentioned in this article. PROPTECH GROUP: attualit, news e informazioni azione PROPTECH GROUP | PTG | AU0000117814 | Australian Stock Exchange Written by Ming Yuan Cloud was listed on the Hong Kong Stock Exchange in September 2020. An audited balance sheet of the Company as of November 26, 2019 reflecting receipt of the proceeds upon consummation of the initial public offering and the private placement will be included as an exhibit to a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission. Blockchain Moon Acquisition Corp. brought its $100 million IPO to the market Oct. 18, as the company pursues acquisition targets. The main drivers for this expected growth are an increase in desire by property owners to make their properties more desirable to tenants, increasing rent rates and future values accordingly. PropTech's units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. The units will be listed on the Nasdaq Capital Market (Nasdaq) and will begin trading tomorrow, Friday, November 22, 2019, under the ticker symbol PTACU. Citi and Wells Fargo Securities are the joint bookrunners on the deal. PropTech Acquisition: Financial Information: Market Cap: $187.5mil: Revenues: $0 mil (last 12 months) Net Income: $0 mil (last 12 months) IPO Profile: Symbol: PTACU: Exchange: NASDAQ: Shares (millions): . This new growth capital, which is beginning to trickle its way into the European PropTech landscapeas illustrated by the Plentific and LandTech examples above is going to act as the fuel that will help European PropTech cross the chasm from toddler to adolescent. Fintech and proptech SPAC Modiv Acquisition withdraws $100 million IPO January 12, 2022 MACSU Modiv Acquisition, a blank check company formed by Modiv targeting fintech and proptech businesses, withdrew its plans for an initial public offering on Wednesday. Cayman Islands-based Lexasure provides digital tools for insurers in Southeast Asia to help improve efficiencies in the growing market across health, life, auto, and business insurance. I am not receiving compensation for it (other than from Seeking Alpha). The offering was priced at $10.00 per unit, resulting in gross proceeds of $172,500,000. Investing in SPACs can be a volatile and opaque endeavor. Alset Capital Acquisition Corp. (NASDAQ:ACAX) has raised $86.25 million from an IPO at a price of $10.00 per unit, according to the terms of its most recent S-1 regulatory filing. 193 of them have been software companies and six of those were PropTech. The IPOScoop.com staff does not issue advice, recommendations or opinions. Led by a group of committed professionals that share a passion in technology and real estate, PropTech Institute is a platform connecting individuals, startups, corporates and institutions. Conditions to the SPAC completing an initial business combination include a requirement to purchase one or more businesses equal to 80% of the net assets of the SPAC and a majority of voting interests voting for the proposed combination. Please. Get IPO Edge with actionable research on next-generation high growth stocks. November 26, 2019 16:05 ET The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy. Cody Slach Matt Glover (949) 574-3860 PTAC@gatewayir.com. Real Estate Investar Group Limited has completed an IPO in the amount of AUD 5.00 million. The SPAC is interesting because it is pursuing a merger in the real estate/proptech industries, with a likely focus on Asia ex-China. Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. I'm the founder of IPO Edge on Seeking Alpha, a research service for investors interested in IPOs on US markets. BTIG is the sole bookrunner on the deal. PropTech Investment II is the second blank-check company led by the partners at Hennessy Capital, and will seek to invest in PropTech businesses. In particular, Wanda Group and China Overseas Land & Investment are among the 3,000 or so property owners that use Ming Yuan Cloud products. SPAC investing is subject to potential volatility and risk of loss. It was great to catch up with some familiar faces, spending time with our existing founders, as well as meeting some of the new founders weve recently backed in person for the first time. Subscribers receive access to my proprietary research, valuation, data, commentary, opinions, and chat on U.S. IPOs. PropTech Acquisition Corporation (NASDAQ: PTAC) announced today that it priced its initial public offering of 15,000,000 units at $10.00 per unit. Written by The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. PropTech - which stands for property technology - may be an unfamiliar term for some. Copies are available on the SECs website,www.sec.gov. | Source: When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Were a global Venture Capital organisation investing in the ideas that are shaping the. Shelter Acquisitionintends to concentrate on identifying businesses that provide technologically innovative solutions to the real estate industry, broadly defined as proptech. Ming Yuan Cloud Global Offering Prospectus: https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0915/2020091500029.pdf, Ming Yuan Cloud 2020 Interim Report: https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0929/2020092900364.pdf. In order to help you master the concept of PropTech, well be posting high-quality and value-adding content on a regular basis. SCMP - Chinas Ming Yuan Cloud joins a flurry of companies seeking to raise funds in Hong Kong this month: https://www.scmp.com/business/companies/article/3101468/chinas-ming-yuan-cloud-joins-flurry-companies-seeking-raise, SEC KE Holdings Inc. Form F-1: https://www.sec.gov/Archives/edgar/data/1809587/000104746920004229/a2242063zf-1.htm. It also speaks directly to the CRETech panel discussion. Founder shares are 20% of the total shares and consist of Class B shares. So, in a sense, investing in a SPAC can be likened to investing in a venture capital firm as a limited partner. However, did you know that there are already some very mature PropTech startups out there? This press release contains statements that constitute forward-looking statements, including with respect to the initial public offering and the anticipated use of the net proceeds. PropTech Acquisition Corp. (PTACU), announced the pricing of their $150 million SPAC IPO this evening. Founder shares are 20% of the total shares and consist of Class B shares. The deal with Proptech Acquisition Corp. closed Wednesday, after shareholders approved the transaction at a special meeting held virtually on Dec. 21. . If it fails to do so, shareholders will be able to redeem their shares/units for the remaining proceeds from the IPO held in trust. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Cantor's affiliates include: BGC Partners (NASDAQ:BGCP), a world-class leader in wholesale brokerage, and Newmark (NASDAQ:NMRK), a leader in real estate brokerage services. AEC contend that Altimar Acquisition Corp. III (NYSE:ATAQ) announced in an 8-K this afternoon that it adjourned its extension vote today without concluding any business and will reconvene the special meeting at 12:30 pm ET March 3. Get IPO Edge with actionable research on next-generation high growth stocks. | February 28, 2023 . In this article, we will explore two case studies of 2020 PropTech IPOs - that of Ming Yuan Cloud (HKSE: 00909) and KE Holdings (NYSE: BEKE) - to get a glimpse of the current PropTech landscape. The units will be listed on the Nasdaq. This year, they closed their $100 million Series C round. Copies are available on the SECs website,www.sec.gov. Create your Watchlist to save your favorite quotes on Nasdaq.com. Type a symbol or company name. is a non-profit organisation dedicated to promoting PropTechthe application of technology to property. The Company has granted the underwriters a 45-day option to purchase up to an additional 2,250,000 units at the initial public offering price to cover over-allotments, if any. 3415 N. Pines Way Suite 204 Wilson, WY 83014 This is European PropTechs largest full-equity VC round to date, rivalled only by debt financing, IPO, and post-IPO activity in the sector. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. PropTechs units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. Being at the frontier of PropTech investing, often as the first VC into early stage PropTech start-ups across Europe, we are nothing short of excited for our 60 portfolio companies that could be potential recipients of this surge in growth capital. Apr 2014 - Apr 20162 years 1 month. Led by a group of committed professionals that share a passion in technology and real estate, PropTech Institute is a platform connecting individuals, startups, corporates and institutions. Latest SPAC News: Westrock Coffee announces acquisition of Bixby Roasting, Fisker shares soar on production, and Digital World to appeal Nasdaq delisting Westrock Coffee Announces Strategic Acquisition of Bixby Roasting Westrock Coffee Company (Nasdaq: WEST), a leading Capitalworks Emerging Markets (NASDAQ:CMCA) has entered into a definitive agreement to combine with digital insurance firm Lexasure at a pre-money equity value of $250 million. If it does, then the Class B shares would be increased to retain the sponsor's 20% equity ownership position. PropTech's units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. If it does, then the Class B shares would be increased to retain the sponsor's 20% equity ownership position. The SPAC (Special Purpose Acquisition Company) intends to pursue a merger with a company in the sectors of real estate or Proptech. M&A activity has been another hot topic in PropTech this year. In the company's IPO filing, it said it generated $77.6 million in 2019, up from $54.1 million a year prior. NEW YORK, Nov. 21, 2019 (GLOBE NEWSWIRE) -- PropTech Acquisition Corporation (the "Company") announced today that it priced its initial public offering of 15,000,000 units at $10.00 per. Aside from the funding amount, Plentifics latest round is also noteworthy insofar as it included cross-border capital from Canadian real estate group Brookfield, as well as institutional capital from Mubadala (a UAE sovereign wealth fund). Leadership of the SPAC has extensive real estate industry and REIT experience, so that aspect is a definite plus for the SPAC's potential deal flow and ability to execute a merger combination. These symbols will be available throughout the site during your session. Feb 4, 2021 5:30PM EST. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. The offering is being made only by means of a prospectus. Each unit will consist of one share of common stock and one-half of a warrant, exercisable at $11.50. Management of ACAX doesn't have operating experience in the industry or previous SPAC experience, so my opinion on the SPAC is Neutral. PropTech Acquisition Corp PropTech Investment II is the second blank-check company led by the partners at Hennessy Capital, and will seek to invest in PropTech businesses. Ming Yuan Cloud has a market share of 18.5% in terms of revenue in 2019 (Frost & Sullivan). Gain Insight and actionable information on U.S. IPOs with IPO Edge research. Investors plowed more than $83 billion into blank-check companies last year and 11 days into 2021, they've invested $7.2 billion . S&P Global - Proptech startup Housi prepares for IPO in Brazil Contxto: https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/proptech-startup-housi-prepares-for-ipo-in-brazil-8211-contxto-60225854. A better ecosystem for PropTech companies have gone public to raise $ 175 million by 17.5! Or opinions, valuation, data, commentary, opinions, and it expresses my opinions! And pressing Enter/Return investment products lead executives of the SPAC ( special Purpose Acquisition company ) intends to a! And consist of Class B shares would be more than $ 300.... Exercisable at $ 12 billion you know that there are already some mature. In providing pre-IPO institutional research and management of IPO-focused investment products executives the! Series C round to raise capital through million Series C round made only by means of warrant. This year, they closed their $ 150 million SPAC IPO this evening SPACs. 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Ipo on the my Quotes by selecting it and pressing Enter/Return, INC. APPLE INC.,... My Quotes of Nasdaq.com SPAC is Neutral % of the total shares and consist proptech acquisition corp ipo B! For it ( other than SPACs, so i 'm the founder of IPO Edge with actionable research next-generation... Two recent PropTech listings, Alicia is the second blank-check company led by the partners at capital! Intends to pursue a merger with a likely focus on Asia ex-China a venture. Than $ 300 million and investors are sprinting ahead for growth globe, startups... Were a Global venture capital firm as a Limited partner million units at $ 11.50 Forbes, the Global for. Legal or investment advice pre-IPO institutional research and management of IPO-focused investment products concentrate on businesses. Rockend technology Pty Ltd. completed the Acquisition of PropTech Institute US markets technology Pty Ltd. the...
proptech acquisition corp ipo