Each unit will consist of one share of common stock and one-half of a warrant, exercisable at $11.50. Copies are available on the SECs website,www.sec.gov. PropTech Investment Corporation II (PTIC) was a $230 million special purpose acquisition company (SPAC) with a proven value creation model focused on real estate technology (PropTech). Please. PropTech - which stands for property technology - may be an unfamiliar term for some. This year, they closed their $100 million Series C round. PropTech-focused SPAC BOA Acquisition files for a $175 million IPO, Renaissance International ETF (symbol: IPOS), Do Not Sell My Personal Information (CA Residents Only). JLL, for example, have made two noteworthy PropTech acquisitions this year (Building Engines for $300 million and Skyline AI for an undisclosed figure). PropTech Acquisition Corp. (PTACU), announced the pricing of their $150 million SPAC IPO this evening. These symbols will be available throughout the site during your session. Offer Details: Security Type: Common Stock Offered: 25000000 Price/Range: 0.20. November 21, 2019 16:55 ET The offering is being made only by means of a prospectus. Please. The SPAC is interesting because it is pursuing a merger in the real estate/proptech industries, with a likely focus on Asia ex-China. 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. Ming Yuan Cloud was listed on the Hong Kong Stock Exchange in September 2020. PropTech Acquisition Corp. 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 unit. Gateway IRCody Slach Matt Glover (949) 574-3860 PTAC@gatewayir.com. - 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. So, in a sense, investing in a SPAC can be likened to investing in a venture capital firm as a limited partner. | Source: About 81.4% of the companys outstanding shares participated in the meeting, so turnout was not an issue, but it appears that Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Investing in SPACs can be a volatile and opaque endeavor. Type a symbol or company name. SPAC investing is subject to potential volatility and risk of loss. The SPAC has 15 months to complete a merger (initial business combination). It also speaks directly to the CRETech panel discussion. Investing in SPACs can be a volatile and opaque endeavor. Cantor Fitzgerald & Co. is acting as the sole book running manager for the offering. And, with a capital tailwind behind them, this is the time for European start-ups to think big and be bold. My research is focused on identifying quality companies at a reasonable price, but Im wrong sometimes. He is joined by CEO and DirectorChristopher Keber, who recently founded Three Oaks Capital serves as its CEO. Renaissance Capital->. To illustrate this, lets do a quick back-of-envelope projection on Plentific based on recent valuations. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. 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. Create your Watchlist to save your favorite quotes on Nasdaq.com. Feb 4, 2021 5:30PM EST. 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. PropTech Acquisition Corporation (NASDAQ: PTAC) announced today that it priced its initial public offering of 15,000,000 units at $10.00 per unit. The SPAC is the first vehicle by this executive group. Market Watch - A Chinese IPO just raised more than $2 billion amid tensions between U.S., China: https://www.marketwatch.com/story/ke-holdings-shares-are-off-to-a-flying-start-in-ipo-debut-that-raises-212-billion-2020-08-13, IPE Real Assets - Gaw Capital-backed proptech firm Beike raises $2.44bn in New York IPO, https://realassets.ipe.com/news/gaw-capital-backed-proptech-firm-beike-raises-244bn-in-new-york-ipo/10047279.article. Ming Yuan Cloud has a market share of 18.5% in terms of revenue in 2019 (Frost & Sullivan). It has been a pleasure to work closely with Jonny Britton and the amazing LandTech team since our seed round investment back in 2015. So, in a sense, investing in a SPAC can be likened to investing in a venture capital firm as a limited partner. Cody Slach Matt Glover (949) 574-3860 PTAC@gatewayir.com. 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). Market Data powered by QuoteMedia. In particular, Wanda Group and China Overseas Land & Investment are among the 3,000 or so property owners that use Ming Yuan Cloud products. MICROSOFT CORPORATION. This story involves the dominant US-based workplace experience platform acquiring the dominant Europe-based platform to create a truly intercontinental product. 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. Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products. Entry into a Material Definitive Agreement. 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. 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. Renaissance Capital for The information referenced or contained herein may change, be in error, become outdated and irrelevant, or removed at any time without notice. 3415 N. Pines Way Suite 204 Wilson, WY 83014 The deal with Proptech Acquisition Corp. closed Wednesday, after shareholders approved the transaction at a special meeting held virtually on Dec. 21. . follow-on investment in their 2017 Series A, they closed their $100 million Series C round, HqO acquisition of Pi Labs portfolio company Office App. 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. BOA Acquisition was founded in 2020 and plans to list on the NYSE under the symbol BOASU. However, did you know that there are already some very mature PropTech startups out there? Investor Presentation Investor Day Webcast, PropTech Investment Corporation II Retail investors are really just 'along for the ride,' with little influence on the ultimate outcome of a proposed merger. 2023227 Nuvini S.A.Nuvini Holdings Limited Mercato Partners Acquisition Corporation(Nasdaq: MPRA) "Nuvini""NVNI" " . 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. Since the transaction is still non-binding, the parties have kept the details to a minimum. 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. Subscribers receive access to my proprietary research, valuation, data, commentary, opinions, and chat on U.S. IPOs. Item 1.01. 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. Murphy has 2 executives leading its sponsor, Murphy Canyon Acquisition Sponsor, LLC. 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. You should perform your own research for your particular financial situation before making any decisions. Members of IPO Edge get the latest IPO research, news, and industry analysis. The information referenced or contained herein may change, be in error, become outdated and irrelevant, or removed at any time without notice. Investors plowed more than $83 billion into blank-check companies last year and 11 days into 2021, they've invested $7.2 billion . Real Estate Investar Group Limited has completed an IPO in the amount of AUD 5.00 million. PropTech Acquisition Corp The well-placed Pi Labs booth served as a hub for founders to connect with one another, with members of our team, and with several of our LPs. But its losses also widened, to $103 million in 2019 from $49.9 million in 2018. 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. 3485 N. Pines Way, Suite 110 Wilson, WY 83014, US. Post-IPO, if Valor's stake is valued at . It was formed, like other special purpose acquisitions companies this year, to raise money in an IPO and . 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. 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. Also, in 2021, the real estate services firm estimated there were more than 6,000 Proptech or other real estate technology-related businesses worldwide. 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. I have no business relationship with any company whose stock is mentioned in this article. Investment involves risk. A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission on November 21, 2019. SEC TS Innovation Acquisitions Corp. Form S-1: https://www.sec.gov/Archives/edgar/data/1826000/000119312520286550/d884122ds1a.htm. I am not receiving compensation for it (other than from Seeking Alpha). PR Newswire: TS Innovation Acquisitions Corp. Copy and paste multiple symbols separated by spaces. Type a symbol or company name. One such transaction in 2021 is the HqO acquisition of Pi Labs portfolio company Office App. Looking for more investing ideas like this one? Across the globe, PropTech startups and investors are sprinting ahead for growth. November 26, 2019 16:05 ET 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. In the near-term future, we expect more and more companies to undergo later-stage funding rounds and M&A activity to join the likes of AirBNB, Zoopla, Causeway, and Purple Bricks as PropTech unicorns and/or listed companies. BTIG is the sole bookrunner on the deal. Like PropTech Investment II, TS Innovation Acquisitions Corp. is also a SPAC focusing on investments in PropTech. | Source: 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. Ming Yuan Cloud provides enterprise-grade ERP solutions and SaaS products to property developers and other participants along the real estate value chain in China. Management doesn't have an operating track record or previous experience with SPACs, so I'm on Hold on ACAX. Cantor Fitzgerald & Co. acted as the sole book running manager for the offering. But, Viveon did disclose that the deal values the PropTech Acquisition Corp. (PTACU) Prices $150M SPAC IPO, Sagaliam Acquisition Corp. (SAGA) Terminates Arabian Entertainment Deal, Altimar Acquisition Corp. III (ATAQ) Adjourns Extension Vote, The Latest SPAC News and Rumors: March 1, 2023, Capitalworks Emerging Markets (CMCA) to Combine with Lexasure in $250M Deal, Viveon Health Acquisition Corp. (VHAQ) Announces LOI. The SPAC may issue additional stock/units to effect a contemplated merger. 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. On November 26, 2019, PropTech Acquisition Corporation consummated its initial public offering of 17,250,000 units , including. - 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. In order to help you master the concept of PropTech, well be posting high-quality and value-adding content on a regular basis. 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. 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. Last week the Pi Labs team had the privilege of attending the UKs first face-to-face CRETech event since the pandemic. You should perform your own research for your particular financial situation before making any decisions. While the Company may pursue an initial business combination target in any stage of its corporate evolution or in any industry or sector, it intends to focus its search on companies that provide technological innovation to the real estate industry, or PropTech. PropTech Institute is a non-profit organisation dedicated to promoting PropTechthe application of technology to property. Alicia is the President and Co-Founder of PropTech Institute. The SPAC is another recent SPAC targeting the real estate Proptech market for a merger combination. In the case of this particular management group, there is potential upside from prior operating experience but the lack of SPAC vehicle track record gives me pause. Join now to get an insider's 'edge' on new issues coming to market, both before and after the IPO. If it does, then the Class B shares would be increased to retain the sponsor's 20% equity ownership position. PropTechs units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. - Chairman and CEO Heng Fai Ambrose Chan, who has extensive experience restructuring companies as CEO of Alset International Limited, an investment holding company. Bloomberg - Tencent-Backed Beike Files U.S. IPO, Said to Aim for $2 Billion: https://www.bloomberg.com/news/articles/2020-07-24/tencent-backed-beike-files-u-s-ipo-said-to-aim-for-2-billion#:~:text=Beike%20filed%20with%20the%20U.S.,to%20data%20compiled%20by%20Bloomberg. So, my outlook on MURF is a Hold as I believe investors in SPACs need to be ultra-choosy and focus on those SPACs with great management teams and a history of positive returns to investors. As the Latin saying goes, audentes fortuna iuvat. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Market Data copyright 2023 QuoteMedia. 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. However, the team does not have prior SPAC experience, so has not demonstrated a track record of attractive returns via a SPAC vehicle. The surge in growth capital in European PropTech. We at PropTech Institute believe there is immense potential with the PropTech sector. 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. The cost of that investment is roughly the same, 20% of the upside to the SPAC sponsor, but the time frame for realizing a significant gain can be far faster, a 1- to 3-year time period for a SPAC versus 10 or more years for a typical venture capital fund. 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. If it does, then the Class B shares would be increased to retain the sponsor's 20% equity ownership position. The offering is expected to close on Tuesday, November 26, 2019. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy. Type a symbol or company name. PropTech is not as nascent as some may think. Also, in 2021, the real estate services firm estimated there were more than 6,000 Proptech or other real estate technology-related businesses worldwide. 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. 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. The Washington, DC-based company plans to raise $175 million by offering 17.5 million units at $10. According to a 2018 market research report in Forbes, the global market for Proptech companies in 2017 was estimated at $12 billion. 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. 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. 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. Citi and Wells Fargo Securities are the joint bookrunners on the deal. Total SPAC deal count for 2019 year-to-date is now 54 with $12.38 billion in gross proceeds raised. Renaissance Capital->. According to a 2018 market research report by Forbes, the global market for Proptech companies in 2017 was estimated at $12 billion. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. While management may have experience in investing in private markets which has enabled them to obtain institutional funding, such investment by institutions is really an option, as they may vote against any proposed merger with which they disagree, so they effectively have veto power as a group of entities. SINGAPORE, March 01, 2023--PropertyGuru Group Limited (NYSE: PGRU) ("PropertyGuru" or the "Company"), Southeast Asia's leading1 property technology ("PropTech") company, today announced . 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. 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. This is European PropTechs largest full-equity VC round to date, rivalled only by debt financing, IPO, and post-IPO activity in the sector. Blockchain Moon is a blank check company with no business operations and only a small Jacksonville office. 193 of them have been software companies and six of those were PropTech. Were a global Venture Capital organisation investing in the ideas that are shaping the. Get IPO Edge with actionable research on next-generation high growth stocks. PropTech Acquisition Corp. (PTACU), announced the pricing of their $150 million SPAC IPO this evening. 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. Three are linked to the real estate legal process, two would be classified as real estate FinTech and the sixth is property management software for short-term holiday rentals. 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. The topics covered are very close to Pi Labs and our ecosystem. 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. PropTech's units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. In 2016, Pi Labs invested in Plentifics 2 million seed round, followed by a follow-on investment in their 2017 Series A. As highlighted in this article, there are a number of front runners chartering ahead. Northland Securities, Inc. acted as co-manager for the offering. Is this happening to you frequently? At the midpoint of a reported range of $18 to $20, the valuation would be more than $300 million.
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