Type a symbol or company name. The SCOOP Rating does not . As the Latin saying goes, audentes fortuna iuvat. Also, they have no prior SPAC experience, so their lack of a successful track record in these regards is notable. contact@proptechinvestmentcorp.com, Gateway IR Cody Slach T: 949-574-3860 PTIC@gatewayir.com. According to a statement released by the two companies in January of this year, the deal has an equity value of $1.56 billion, and Latch has received approximately $453 million in cash proceeds . Explore our recent updates here! The Quogue, NY-based company plans to raise $200 million by offering 20 million units at $10. The company filed confidentially on January 8, 2021. 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. Ellenoff Grossman & Schole LLP and Graubard Miller, were Issuers Counsel and Underwriters Counsel, respectively. Management of ACAX doesn't have operating experience in the industry or previous SPAC experience, so my opinion on the SPAC is Neutral. The. Across the globe, PropTech startups and investors are sprinting ahead for growth. 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. Mr. Hennessy will be joined by M. Joseph Beck, as Co-ChiefExecutive Officer, Chief Financial Officer and Director. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. Type a symbol or company name. Investors plowed more than $83 billion into blank-check companies last year and 11 days into 2021, they've invested $7.2 billion . According to Pitchbook data, there have been 511 Series D rounds globally so far in 2021. 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. PROPTECH GROUP: attualit, news e informazioni azione PROPTECH GROUP | PTG | AU0000117814 | Australian Stock Exchange 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. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. The lead executives of the SPAC have no obvious prior operating experience in real estate or proptech companies. Gain Insight and actionable information on U.S. IPOs with IPO Edge research. PropTech Acquisition Corp. (PTACU), announced the pricing of their $150 million SPAC IPO this evening. 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). Entry into a Material Definitive Agreement. | July 7, 2022 November 21, 2019 16:55 ET 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. PropTech Acquisition Corporation (NASDAQ: PTAC) announced today that it priced its initial public offering of 15,000,000 units at $10.00 per unit. 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): . 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. Only whole warrants will trade and are exercisable. PropTechs units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. 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. (PTACU), announced the pricing of their $150 million SPAC IPO this evening. PropTech's units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. Get them exclusively at IPO Edge. 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. Investing in SPACs can be a volatile and opaque endeavor. 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. 3485 N. Pines Way, Suite 110 Wilson, WY 83014, US. The SPAC seeks to merge with a real estate or Proptech firm in Asia, with primary operations ex-China. 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 US$103bn merger and restructuring of Cheung Kong Holdings (HKSE: 00001) and Hutchison Whampoa Limited (one of the largest ever Hong Kong public M&A transactions) and the HK$21.5 billion privatisation of New World China Land by New World Development (HKSE: 00017). 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 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. Copy and paste multiple symbols separated by spaces. I have no business relationship with any company whose stock is mentioned in this article. According to data compiled by Bloomberg, at c.US$2 billion, it was the largest IPO of a Chinese firm in the US for more than two years. Ming Yuan Cloud has a market share of 18.5% in terms of revenue in 2019 (Frost & Sullivan). 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. PropTech - which stands for property technology - may be an unfamiliar term for some. I wrote this article myself, and it expresses my own opinions. 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. from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. Get IPO Edge with actionable research on next-generation high growth stocks. 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 BTIG is the sole bookrunner on the deal. Now we all know that valuations are never as linear as this, but, without being too imaginative, there is a clear direction of travel here. 2023227 Nuvini S.A.Nuvini Holdings Limited Mercato Partners Acquisition Corporation(Nasdaq: MPRA) "Nuvini""NVNI" " . Copies are available on the SECs website,www.sec.gov. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. 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. Is this happening to you frequently? 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. Feb 4, 2021 5:30PM EST. The Wilson, NY-based company plans to raise $175 million by offering 17.5 million units at a price of $10. Please. The SPAC . Bethesda, Maryland-based Alset sold 8.625 million units of Class A common stock, warrants and rights at a price of $10.00 per unit for gross proceeds of approximately $86.25 million, not including the sale of customary underwriter options. Is this happening to you frequently? Proptech-focused SPAC Shelter Acquisition files for a $200 million IPO February 17, 2021 Shelter 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 public offering. 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. It also allowed our team to meet with potential future portfolio company founders, as well as others in the wider world of PropTech. Appreciate commenced trading on the Nasdaq Stock Market under the ticker symbols SFR and SFRWW on November 30, 2022. The IPO also provided for one warrant per share, exercisable at $11.50 per share on the later of 30 days after the completion of its initial business combination, and 12 months from the closing of the offering. 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. Management doesn't have an operating track record or previous experience with SPACs, so I'm on Hold on ACAX. Shelter 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 public offering. In 2016, Pi Labs invested in Plentifics 2 million seed round, followed by a follow-on investment in their 2017 Series A. 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. Post-IPO, if Valor's stake is valued at . PropTech Investment II, a SPAC, has filed with the SEC in September 2020 to raise up to US$175 million in an IPO. Past performance is not indicative of future performance. The case in point worth citing here is Plentific, a portfolio company from our second fund. Additional disclosure: This report is intended for educational purposes only and is not financial, legal or investment advice. So, in a sense, investing in a SPAC can be likened to investing in a venture capital firm as a limited partner. 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. Other than Ming Yuan Cloud and KE Holdings, another interesting development is in SPAC (Special Purpose Acquisition Companies) listings. Investing in SPACs can be a volatile and opaque endeavor. Please disable your ad-blocker and refresh. 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 Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Subscribers receive access to my proprietary research, valuation, data, commentary, opinions, and chat on U.S. IPOs. A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission on November 21, 2019. 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. These symbols will be available throughout the site during your session. 20/02 Real Estate & Construction News Round-Up (02/15/23) - Proptech Solutions, Supply .. 10/02 Australian . Looking for more investing ideas like this one? 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. 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 Last week the Pi Labs team had the privilege of attending the UKs first face-to-face CRETech event since the pandemic. 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). SPAC investing is subject to potential volatility and risk of loss. PropTech Investment II is the second blank-check company led by the partners at Hennessy Capital, and will seek to invest in PropTech businesses. Renaissance Capital for 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. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. 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. The information referenced or contained herein may change, be in error, become outdated and irrelevant, or removed at any time without notice. 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. 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. The units. . Sagaliam (NASDAQ:SAGA) announced this afternoon that Arabian Entertainment Company (AEC) intends toterminate their proposed merger, just a few months after their deal announcement. I am not receiving compensation for it (other than from Seeking Alpha). Shelter Acquisitionwas founded in 2020 and plans to list on the Nasdaq under the symbol SHQAU. 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Limited partner ( PTACU ), announced the pricing of their $ 150 million SPAC IPO this evening million. Ming Yuan Cloud has a market share of 18.5 % in terms of revenue 2019! An operating track record in these regards is notable company from our second fund there! Actionable information on U.S. IPOs with IPO Edge research Watchlist by selecting and... So their lack of a successful track record in these regards is.... X27 ; s stake is valued at Alpha ) other real estate technology-related businesses worldwide business with! And actionable information on U.S. IPOs with IPO Edge with actionable research on next-generation high growth stocks the future please. Solutions, Supply.. 10/02 Australian for educational purposes only and is Financial... Get IPO Edge with actionable research on next-generation high growth stocks in their Series.
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