We create a better ecosystem for PropTech through education, collaboration and driving change. PropTech Acquisition, a blank check company led by partners at Hennessy Capital targeting a real estate technology business, raised $150 million by offering 15 million units at $10, as. 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. 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. Other than SPACs, PropTech startup Housi, is reported to be preparing for an IPO on the Brazilian stock exchange. The company filed confidentially on January 8, 2021. 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. Looking for more investing ideas like this one? 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 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. 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. 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. He is joined by CEO and DirectorChristopher Keber, who recently founded Three Oaks Capital serves as its CEO. - 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. 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. 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. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy. Refresh the page, check Medium 's site status,. Get IPO Edge with actionable research on next-generation high growth stocks. 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. We at PropTech Institute believe there is immense potential with the PropTech sector. 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. 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. The lead executives of the SPAC have no obvious prior operating experience in real estate or proptech companies. M&A activity has been another hot topic in PropTech this year. Each unit consists of one share of the Companys Class A common stock and one-half of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Murphy Canyon Acquisition Corp. went public recently, raising $132 million in an IPO. 193 of them have been software companies and six of those were PropTech. It was formed, like other special purpose acquisitions companies this year, to raise money in an IPO and . 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. - 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. It also speaks directly to the CRETech panel discussion. Gain Insight and actionable information on U.S. IPOs with IPO Edge research. Stay tuned and watch this space! Start with a 14-day Free Trial. Also, unlike a venture capital fund, a SPAC is liquid, providing public investors with an added liquidity benefit should they need to sell. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. I am not receiving compensation for it (other than from Seeking Alpha). - Chairman and CEO Heng Fai Ambrose Chan, who has extensive experience restructuring companies as CEO of Alset International Limited, an investment holding company. Like PropTech Investment II, TS Innovation Acquisitions Corp. is also a SPAC focusing on investments in PropTech. 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. The deal with Proptech Acquisition Corp. closed Wednesday, after shareholders approved the transaction at a special meeting held virtually on Dec. 21. . PropTech Investment II, a SPAC, has filed with the SEC in September 2020 to raise up to US$175 million in an IPO. The. Also, they have no prior SPAC experience, so their lack of a successful track record in these regards is notable. Create your Watchlist to save your favorite quotes on Nasdaq.com. | February 28, 2023 . 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). On the second day of CRETech, Idriss Goossens, Ben Lerner, Jonathan Willen and I, as co-panellists on the main stage, had a very timely and robust discussion on The Growing Consolidation of PropTech. PropTechs units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. 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 SPAC seeks to merge with a company in the real estate Proptech industry. Currently, Alicia is the Senior Legal Counsel at a real estate private equity fund focusing on Greater China investments. 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. 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. Murphy has 2 executives leading its sponsor, Murphy Canyon Acquisition Sponsor, LLC. 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 preliminary prospectus for the offering filed with the Securities and Exchange Commission (SEC). 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. Copy and paste multiple symbols separated by spaces. I have no business relationship with any company whose stock is mentioned in this article. 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. SPAC investing is subject to potential volatility and risk of loss. Sagaliam (NASDAQ:SAGA) announced this afternoon that Arabian Entertainment Company (AEC) intends toterminate their proposed merger, just a few months after their deal announcement. 3485 N. Pines Way, Suite 110 Wilson, WY 83014, US. Get IPO Edge with actionable research on next-generation high growth stocks. And, with a capital tailwind behind them, this is the time for European start-ups to think big and be bold. 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. Type a symbol or company name. PropTech is not as nascent as some may think. The SPAC sponsor also purchased 440,000 units at $10.00 per unit in a private placement. PROPTECH GROUP: attualit, news e informazioni azione PROPTECH GROUP | PTG | AU0000117814 | Australian Stock Exchange 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. Notably, if management sells additional Class A shares to effect a transaction and the sale price of those shares is less than $9.20 per Class A share, 'then the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the greater of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger price described below under "Redemption of warrants" will be adjusted (to the nearest cent) to be equal to 180% of the greater of the Market Value and the Newly Issued Price.' PropTech - which stands for property technology - may be an unfamiliar term for some. Blockchain Moon Acquisition Corp. brought its $100 million IPO to the market Oct. 18, as the company pursues acquisition targets. PropTech Institute is a non-profit organisation dedicated to promoting PropTechthe application of technology to property. Subscribers receive access to my proprietary research, valuation, data, commentary, opinions, and chat on U.S. IPOs. 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. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Item 1.01. 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. Cantor Fitzgerald & Co. is acting as the sole book running manager for the offering. The SPAC has 15 months to complete a merger (initial business combination). Pi Labs is proud to have invested follow-on capital during this round. The Companys units are listed on the Nasdaq Capital Market (Nasdaq) and commenced trading under the ticker symbol PTACU on November 22, 2019. Get them exclusively at IPO Edge. Please disable your ad-blocker and refresh. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. This story involves the dominant US-based workplace experience platform acquiring the dominant Europe-based platform to create a truly intercontinental product. PropTech Acquisition Corp. (PTACU), announced the pricing of their $150 million SPAC IPO this evening. 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. Renaissance Capital->. Ex-Freddie Mac CEO Charles Haldeman and other top housing executives launched an IPO to raise some $258.8 million for 1Sharpe Acquisition Corp. (Nasdaq:UNOOU), a SPAC focused on 'PropTech.' 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 I'm the founder of IPO Edge on Seeking Alpha, a research service for investors interested in IPOs on US markets. 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. The case in point worth citing here is Plentific, a portfolio company from our second fund. Each unit consists of one share of the Companys Class A common stock and one-half of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. 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. Retail investors are really just 'along for the ride,' with little influence on the ultimate outcome of a proposed merger. This year, they closed their $100 million Series C round. Please. I'm the founder of IPO Edge on Seeking Alpha, a research service for investors interested in IPOs on US markets. 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. PropTech IPOs - a case study of two recent PropTech listings, Alicia is the President and Co-Founder of PropTech Institute. More recently, TS Innovation Acquisitions Corp., closed a US$300 million IPO in November 2020. I have no business relationship with any company whose stock is mentioned in this article. | Source: 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. To illustrate this, lets do a quick back-of-envelope projection on Plentific based on recent valuations. Ellenoff Grossman & Schole LLP and Graubard Miller, were Issuers Counsel and Underwriters Counsel, respectively. 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. November 21, 2019 16:55 ET 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%. Please disable your ad-blocker and refresh. In 2018, another $4 billion was invested in real estate technology companies. PropTech Investment Corporation II Completes Business Combination with Appreciate Press Release PropTech Investment Corporation II 3415 N. Pines Way Suite 204 Wilson, WY 83014 T: 310-954-9665 contact@proptechinvestmentcorp.com Gateway IR Cody Slach T: 949-574-3860 In the company's IPO filing, it said it generated $77.6 million in 2019, up from $54.1 million a year prior. Written by At the same time, it digitised scattered offline data to bring the entire process of housing transactions online, which transforms not only the transaction process but also the post-transaction phase, such as mortgage and title clearance. According to Pitchbook data, there have been 511 Series D rounds globally so far in 2021. The units will be listed on the Nasdaq. 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. Start with a 14-day Free Trial. 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. More information on Appreciate can be found atAppreciate.rent. 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. Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products. PROPTECH GROUP : News, Nachrichten und Informationen Aktie PROPTECH GROUP | A3DRPC | AU0000117814 | Australian Stock Exchange 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. BOA Acquisitionintends to focus on businesses that provide technological solutions and innovation to the broader real estate industry, which management also refers to as "PropTech." 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. Only whole warrants will trade and are exercisable. 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. | January 4, 2023 I wrote this article myself, and it expresses my own opinions. The surge in growth capital in European PropTech. 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. 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. 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.