The SPAC . 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 . The information referenced or contained herein may change, be in error, become outdated and irrelevant, or removed at any time without notice. In the company's IPO filing, it said it generated $77.6 million in 2019, up from $54.1 million a year prior. 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. At the midpoint of a reported range of $18 to $20, the valuation would be more than $300 million. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. 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. BTIG is the sole bookrunner on the deal. It was formed, like other special purpose acquisitions companies this year, to raise money in an IPO and . Gateway IRCody Slach Matt Glover (949) 574-3860 PTAC@gatewayir.com. Also, unlike a venture capital fund, a SPAC is liquid, providing public investors with an added liquidity benefit should they need to sell. 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). 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. Proptech-focused SPAC Shelter Acquisition files for a $200 million IPO, Renaissance International ETF (symbol: IPOS), Do Not Sell My Personal Information (CA Residents Only). | February 28, 2023 . The SPAC sponsor also purchased 685,000 units at $10.00 per unit in a private placement. My research is focused on identifying quality companies at a reasonable price, but Im wrong sometimes. You should perform your own research for your particular financial situation before making any decisions. 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. No assurance can be given that the net proceeds of the offering will be used as indicated. To illustrate this, lets do a quick back-of-envelope projection on Plentific based on recent valuations. Closes $300 Million Initial Public Offering: https://www.prnewswire.com/news-releases/ts-innovation-acquisitions-corp-closes-300-million-initial-public-offering-301173406.html. Shelter Acquisitionwas founded in 2020 and plans to list on the Nasdaq under the symbol SHQAU. Feb 4, 2021 5:30PM EST. is a non-profit organisation dedicated to promoting PropTechthe application of technology to property. 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. 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. 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. - 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. contact@proptechinvestmentcorp.com, Gateway IR Cody Slach T: 949-574-3860 PTIC@gatewayir.com. Join now to get an insider's 'edge' on new issues coming to market, both before and after the IPO. It was the first software-based Chinese PropTech firm to debut on the Hong Kong Stock Exchange this year. Members of IPO Edge get the latest IPO research, news, and industry analysis. Gain Insight and actionable information on U.S. IPOs with IPO Edge research. Only whole warrants will trade and are exercisable. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. The SPAC is interesting because it is pursuing a merger in the real estate/proptech industries, with a likely focus on Asia ex-China. Get IPO Edge with actionable research on next-generation high growth stocks. It also allowed our team to meet with potential future portfolio company founders, as well as others in the wider world of PropTech. 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. 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. 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. 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. I have no business relationship with any company whose stock is mentioned in this article. My research is focused on identifying quality companies at a reasonable price, but Im wrong sometimes. These symbols will be available throughout the site during your session. Once the securities comprising the units begin separate trading, shares of the Class A common stock and warrants are expected to be listed on Nasdaq under the symbols PTAC and PTACW, respectively. The SPAC may issue additional stock/units to effect a contemplated merger. Get them exclusively at IPO Edge. 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.' I am not receiving compensation for it (other than from Seeking Alpha). Members of IPO Edge get the latest IPO research, news, and industry analysis. Shelter Acquisitionintends to concentrate on identifying businesses that provide technologically innovative solutions to the real estate industry, broadly defined as proptech. The cash and stock . Renaissance Capital->. 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. Citi and Wells Fargo Securities are the joint bookrunners on the deal. Gain Insight and actionable information on U.S. IPOs with IPO Edge research. Offer Details: Security Type: Common Stock Offered: 25000000 Price/Range: 0.20. Murphy Canyon Acquisition Corp. went public recently, raising $132 million in an IPO. Acquisitions, IPOs, and the evolution of PropTech | by Faisal Butt | Pi Labs Insights | Medium 500 Apologies, but something went wrong on our end. Type a symbol or company name. The Washington, DC-based company plans to raise $175 million by offering 17.5 million units at $10. I wrote this article myself, and it expresses my own opinions. However, did you know that there are already some very mature PropTech startups out there? Other than Ming Yuan Cloud and KE Holdings, another interesting development is in SPAC (Special Purpose Acquisition Companies) listings. Investing in a SPAC before a proposed business combination is announced is essentially investing in the senior executives of the SPAC, their ability to create value and their previous SPAC track record of returns to shareholders. Ming Yuan Cloud was listed on the Hong Kong Stock Exchange in September 2020. 3485 N. Pines Way, Suite 110 Wilson, WY 83014, US. PROPTECH GROUP : Noticias, novedades e informacin accin PROPTECH GROUP | PTG | AU0000117814 | Australian Stock Exchange 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. You should perform your own research for your particular financial situation before making any decisions. 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. Join now to get an insider's 'edge' on new issues coming to market, both before and after the IPO. The SPAC is the first vehicle by this executive group. Total SPAC deal count for 2019 year-to-date is now 54 with $12.38 billion in gross proceeds raised. 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. 20/02 Real Estate & Construction News Round-Up (02/15/23) - Proptech Solutions, Supply .. 10/02 Australian . 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. This round of funding was led by Murex Partners, with new participation from Atinum Investments, and follow-on investment from . The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. 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. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. 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. Mr. Hennessy will be joined by M. Joseph Beck, as Co-ChiefExecutive Officer, Chief Financial Officer and Director. Copy and paste multiple symbols separated by spaces. 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): . 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 Corporation is a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase,. Please. 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. Is this happening to you frequently? Use tab to navigate through the menu items. Blockchain Moon is a blank check company with no business operations and only a small Jacksonville office. M&A activity has been another hot topic in PropTech this year. | Source: PropTech's units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. Since the transaction is still non-binding, the parties have kept the details to a minimum. 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. 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. This is European PropTechs largest full-equity VC round to date, rivalled only by debt financing, IPO, and post-IPO activity in the sector. Cantor Fitzgerald & Co. acted as the sole book running manager for the offering. 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. Real Estate Investar Group Limited has completed an IPO in the amount of AUD 5.00 million. Please disable your ad-blocker and refresh. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy. 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. 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. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Type a symbol or company name. Separately, Paycor HCM, which offers a software-as-a-service human capital management platform . 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 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). RT=Real-Time, EOD=End of Day, PD=Previous Day. 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). 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 Investment II is the second blank-check company led by the partners at Hennessy Capital, and will seek to invest in PropTech businesses. 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. Create your Watchlist to save your favorite quotes on Nasdaq.com. Management of ACAX doesn't have operating experience in the industry or previous SPAC experience, so my opinion on the SPAC is Neutral. 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. The company filed confidentially on January 8, 2021. Create your Watchlist to save your favorite quotes on Nasdaq.com. Copies are available on the SECs website,www.sec.gov. Entry into a Material Definitive Agreement. 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. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Investment involves risk. 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. If you have an ad-blocker enabled you may be blocked from proceeding. 193 of them have been software companies and six of those were PropTech. The units. Renaissance Capital for 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. | July 7, 2022 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. 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. 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. PropTech Acquisition Corp 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. On November 26, 2019, PropTech Acquisition Corporation consummated its initial public offering of 17,250,000 units , including. 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. More recently, TS Innovation Acquisitions Corp., closed a US$300 million IPO in November 2020. 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 topics covered are very close to Pi Labs and our ecosystem. 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. The Quogue, NY-based company plans to raise $200 million by offering 20 million units at $10. Currently, Alicia is the Senior Legal Counsel at a real estate private equity fund focusing on Greater China investments. In 2018, another $4 billion was invested in real estate technology companies. Founder & CEO of Pi Labs | VC Investor | Entrepreneur | Property + Technology | Investor in Hubble, Trussle, LandTech, 90 North Group & more. 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. The SCOOP ratings should not be taken as investment advice. The SPAC is the first vehicle by this executive group. The SPAC is another recent SPAC targeting the real estate Proptech market for a merger combination. The offering is expected to close on Tuesday, November 26, 2019. He is joined by CEO and DirectorChristopher Keber, who recently founded Three Oaks Capital serves as its CEO. Management doesn't have an operating track record or previous experience with SPACs, so I'm on Hold on ACAX. T: 310-954-9665 Cody Slach Matt Glover (949) 574-3860 PTAC@gatewayir.com. Type a symbol or company name. We create a better ecosystem for PropTech through education, collaboration and driving change. 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. 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. SPAC investing is subject to potential volatility and risk of loss. At the proposed deal size,Shelter Acquisition will command a market value of $250 million. Also, in 2021, the real estate services firm estimated there were more than 6,000 Proptech or other real estate technology-related businesses worldwide. 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. Investing in SPACs can be a volatile and opaque endeavor. Were a global Venture Capital organisation investing in the ideas that are shaping the. 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. 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. 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. | January 4, 2023 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. 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. You should perform your own research for your symbols on the my Quotes of Nasdaq.com 200 million offering... Private placement, did you know that there are already some very mature startups. Proptech investment II is the second blank-check company led by the Partners at Hennessy Capital, and will seek invest! Have kept the Details to a minimum //www1.hkexnews.hk/listedco/listconews/sehk/2020/0915/2020091500029.pdf, https: //www1.hkexnews.hk/listedco/listconews/sehk/2020/0929/2020092900364.pdf making any decisions research! Group Limited has completed an IPO September 2020 filed confidentially on January 8,.. News, and will seek to invest in PropTech this year, to $... 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