The SPAC may issue additional stock/units to effect a contemplated merger. I have no business relationship with any company whose stock is mentioned in this article. Copy and paste multiple symbols separated by spaces. 3415 N. Pines Way Suite 204 Wilson, WY 83014 According to Pitchbook data, there have been 511 Series D rounds globally so far in 2021. The offering is being made only by means of a prospectus. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. NEW YORK, Nov. 26, 2019 -- PropTech Acquisition Corporation announced today that it closed its initial public offering of 17,250,000 units, including 2,250,000 units issued pursuant. Market Data powered by QuoteMedia. The offering was priced at $10.00 per unit, resulting in gross proceeds of $172,500,000. 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. So, in a sense, investing in a SPAC can be likened to investing in a venture capital firm as a limited partner. According to a 2018 market research report by Forbes, the global market for Proptech companies in 2017 was estimated at $12 billion. 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. My outlook on MURF is a Hold as I believe investors in SPACs need to be extra-choosy and focus on those SPACs with great management teams and a history of positive returns to investors. 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. 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. 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. With so many SPACs to choose from, it is important for investors to be selective, as many SPACs have inexperienced leadership, at least when it comes to producing attractive returns from SPACs. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned. 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. MICROSOFT CORPORATION. PropTech Investment Corporation II (NASDAQ:PTICU) has completed an initial public offering (IPO) of 23,000,000 units at $10.00 per unit, including 3,000,000 PROPTECH GROUP : News, Nachrichten und Informationen Aktie PROPTECH GROUP | A3DRPC | AU0000117814 | Australian Stock Exchange SPAC investing is subject to potential volatility and risk of loss. - Chief Financial Officer, Adam Sragovicz, who has been the Chief Financial Officer of Presidio Property Trust and has extensive capital markets, finance and treasury management experience. Join now to get an insider's 'edge' on new issues coming to market, both before and after the IPO. B OA Acquisition, a blank check company targeting real estate technology, filed on Thursday with the SEC to raise up to $175 million in an initial public offering. The case in point worth citing here is Plentific, a portfolio company from our second fund. Apr 2014 - Apr 20162 years 1 month. I wrote this article myself, and it expresses my own opinions. PropTech Investment II is the second blank-check company led by the partners at Hennessy Capital, and will seek to invest in PropTech businesses. The deal with Proptech Acquisition Corp. closed Wednesday, after shareholders approved the transaction at a special meeting held virtually on Dec. 21. . In any event, while management may find an interesting merger target, the chances of success are difficult to determine. Ellenoff Grossman & Schole LLP and Graubard Miller, were Issuers Counsel and Underwriters Counsel, respectively. 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. In particular, it sells virtual reality tour software, increased use of which, according to the company, has helped offset a loss of revenues from other sources brought on by the coronavirus pandemic this year. Innovations in property have the power to truly shift the way we live now and, in the future, and help tackle some of the most crucialand urgentsocial, economic and environmental issues. This article is not investment advice and does not constitute any offer or solicitation to subscribe or redeem. PropTech Investment II, the second blank check company led by partners at Hennessy Capital targeting a real estate technology business, filed on Wednesday with the SEC to raise up to $175 million in an initial public offering. | Source: 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. In order to help you master the concept of PropTech, well be posting high-quality and value-adding content on a regular basis. 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. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned. 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. More information on Appreciate can be found atAppreciate.rent. However, the team does not have prior SPAC experience, so has not demonstrated a track record of attractive returns via a SPAC vehicle. 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 led by ChairmanScott Seligman, who also serves as Chairman of The Seligman Group; CEO and CIO Brian Friedman, who currently servesas the Managing Partner of Foxhall Partners, as well as Founder and Partner at Friedman Capital; and CFO Benjamin Friedman, a former Director and Senior Trader at Citigroup Global Markets. This is European PropTechs largest full-equity VC round to date, rivalled only by debt financing, IPO, and post-IPO activity in the sector. It is headquartered in Beijing and was listed on the New York Stock Exchange in August 2020. JLL, for example, have made two noteworthy PropTech acquisitions this year (Building Engines for $300 million and Skyline AI for an undisclosed figure). contact@proptechinvestmentcorp.com, Gateway IR Cody Slach T: 949-574-3860 PTIC@gatewayir.com. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be traded on Nasdaq under the symbols PTAC and PTACW, respectively. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Being Europes earliest investor in PropTech, our portfolio companies have experienced various forms of capital raising and M&A events over the past 6 years. The units. Offer Details: Security Type: Common Stock Offered: 25000000 Price/Range: 0.20. Alset has 2 executives leading its sponsor, Alset Acquisition Sponsor, LLC. He is joined by CEO and DirectorChristopher Keber, who recently founded Three Oaks Capital serves as its CEO. PropTech Acquisition Corp. (PTACU), announced the pricing of their $150 million SPAC IPO this evening. Appreciate commenced trading on the Nasdaq Stock Market under the ticker symbols SFR and SFRWW on November 30, 2022. Feb 4, 2021 5:30PM EST. PropTech Investment II, a SPAC, has filed with the SEC in September 2020 to raise up to US$175 million in an IPO. SEC TS Innovation Acquisitions Corp. Form S-1: https://www.sec.gov/Archives/edgar/data/1826000/000119312520286550/d884122ds1a.htm. 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. BOA Acquisition, a blank check company targeting real estate technology, filed on Thursday with the SEC to raise up to $175 million in an initial public offering. As highlighted in this article, there are a number of front runners chartering ahead. The SPAC is the first vehicle by this executive group. My research is focused on identifying quality companies at a reasonable price, but Im wrong sometimes. The article PropTech-focused SPAC BOA Acquisition files for a $175 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. 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. If it does, then the Class B shares would be increased to retain the sponsor's 20% equity ownership position. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. We create a better ecosystem for PropTech through education, collaboration and driving change. Northland Securities, Inc. acted as co-manager for the offering. Type a symbol or company name. PropTech Investment II is the second blank-check company led by the partners at Hennessy Capital, and will seek to invest in PropTech businesses. Disclosure: 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. Of the proceeds received from the consummation of the initial public offering and a simultaneous private placement of warrants, $172,500,000 (or $10.00 per unit sold in the public offering) was placed in trust. We at PropTech Institute believe there is immense potential with the PropTech sector. The company is led by CIO and ChairmanJack Chandler, who founded Majesteka Investments in 2017 and previously served as Global Head and Chairman of Real Estate at BlackRock from 2011 to 2017. More recently, TS Innovation Acquisitions Corp., closed a US$300 million IPO in November 2020. - Chief Financial Officer Rongguo Wei, who is co-Chief CFO of Alset EHome International and has more than 15 years of experience with private and public companies in the United States. Cody Slach Matt Glover (949) 574-3860 PTAC@gatewayir.com. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Companys registration statement and prospectus for the offering filed with the Securities and Exchange Commission (SEC). Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. - Chairman, CEO and President, Jack K. Heilbron, who has previously been President and CEO of Presidio Property Trust and NetREIT Dubose and NTR Property Management, which are all company affiliated entities. Copies of the prospectus may be obtained from Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 5th Floor New York, New York 10022; Email:prospectus@cantor.com. Create your Watchlist to save your favorite quotes on Nasdaq.com. 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. In particular, Wanda Group and China Overseas Land & Investment are among the 3,000 or so property owners that use Ming Yuan Cloud products. The lead executives of the SPAC have no obvious prior operating experience in real estate or proptech companies. 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. 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. Ming Yuan Cloud has a market share of 18.5% in terms of revenue in 2019 (Frost & Sullivan). Get IPO Edge with actionable research on next-generation high growth stocks. Founder shares are 20% of the total shares and consist of Class B shares. 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. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Looking for more investing ideas like this one? Copy and paste multiple symbols separated by spaces. Past performance is not indicative of future performance. Is this happening to you frequently? And, with a capital tailwind behind them, this is the time for European start-ups to think big and be bold. I have no business relationship with any company whose stock is mentioned in this article. Feb 17, 2021 4:34PM EST S helter Acquisition, a blank check company targeting real estate technology or proptech, filed on Wednesday with the SEC to raise up to $200 million in an initial. For more updates from the team and for a look into life at Pi Labs, follow us on Instagram and subscribe to our monthly newsletter. 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. Separately, Paycor HCM, which offers a software-as-a-service human capital management platform . It also allowed our team to meet with potential future portfolio company founders, as well as others in the wider world of PropTech. 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). The units will be listed on the Nasdaq. PR Newswire: TS Innovation Acquisitions Corp. AMAZON.COM, INC. APPLE INC. TESLA, INC. META PLATFORMS, INC. NVIDIA CORPORATION. So, in a sense, investing in a SPAC can be likened to investing in a venture capital firm as a limited partner. Other than Ming Yuan Cloud and KE Holdings, another interesting development is in SPAC (Special Purpose Acquisition Companies) listings. Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. Item 1.01. Entry into a Material Definitive Agreement. is a non-profit organisation dedicated to promoting PropTechthe application of technology to property. 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. Investing in SPACs can be a volatile and opaque endeavor. 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. SPAC investing is subject to potential volatility and risk of loss. Cantor Fitzgerald & Co. is acting as the sole book running manager for the offering. In order to help you master the concept of PropTech, well be posting high-quality and value-adding content on a regular basis. The Quogue, NY-based company plans to raise $200 million by offering 20 million units at $10. 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