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. 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. SPAC investing is subject to potential volatility and risk of loss. Alicia is the President and Co-Founder of PropTech Institute. 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. 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. PropTech's units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. 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. If it does, then the Class B shares would be increased to retain the sponsor's 20% equity ownership position. - 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. Like PropTech Investment II, TS Innovation Acquisitions Corp. is also a SPAC focusing on investments in PropTech. Management of ACAX doesn't have operating experience in the industry or previous SPAC experience, so my opinion on the SPAC is Neutral. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. PropTech's units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. 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. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Investing in SPACs can be a volatile and opaque endeavor. 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. - 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. Start with a 14-day Free Trial. The case in point worth citing here is Plentific, a portfolio company from our second fund. November 21, 2019 16:55 ET PropTech Acquisition Corporation (NASDAQ: PTAC) announced today that it priced its initial public offering of 15,000,000 units at $10.00 per unit. Disclosure: Nobody on theIPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. from the closing of an initial business combination and expiring five years after completion of the initial business combination or earlier upon redemption or liquidation. You should perform your own research for your particular financial situation before making any decisions. PropTech Acquisition Corp. (PTACU), announced the pricing of their $150 million SPAC IPO this evening. Copies are available on the SECs website,www.sec.gov. The offering is being made only by means of a prospectus. 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. 3485 N. Pines Way, Suite 110 Wilson, WY 83014, US. We create a better ecosystem for PropTech through education, collaboration and driving change. I'm the founder of IPO Edge on Seeking Alpha, a research service for investors interested in IPOs on US markets. Mr. Hennessy will be joined by M. Joseph Beck, as Co-ChiefExecutive Officer, Chief Financial Officer and Director. 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. 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. 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. Please disable your ad-blocker and refresh. Special Purpose Acquisition Company (SPAC) listings have experienced the glory of 2020 and 2021, these "blank check companies" targeting a variety of new economy companies, including many with a focus on PropTech companies, to tap into the fast-growing PropTech market. PropTech Acquisition Corp If you have an ad-blocker enabled you may be blocked from proceeding. | February 28, 2023 . RT=Real-Time, EOD=End of Day, PD=Previous Day. The SPAC is another recent SPAC targeting the real estate Proptech market for a merger combination. 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. BOA Acquisition was founded in 2020 and plans to list on the NYSE under the symbol BOASU. Blockchain Moon is a blank check company with no business operations and only a small Jacksonville office. 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. 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. Retail investors are really just 'along for the ride,' with little influence on the ultimate outcome of a proposed merger. Total SPAC deal count for 2019 year-to-date is now 54 with $12.38 billion in gross proceeds raised. 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. Get IPO Edge with actionable research on next-generation high growth stocks. 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. Market Data copyright 2023 QuoteMedia. 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. These symbols will be available throughout the site during your session. 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. In order to help you master the concept of PropTech, well be posting high-quality and value-adding content on a regular basis. 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. If you have an ad-blocker enabled you may be blocked from proceeding. So, in a sense, investing in a SPAC can be likened to investing in a venture capital firm as a limited partner. Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products. 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. Founder shares are 20% of the total shares and consist of Class B shares. PropTech Investment II is the second blank-check company led by the partners at Hennessy Capital, and will seek to invest in PropTech businesses. Cantor Fitzgerald & Co. Inc., acted as sole book-running manager for the offering. 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. At the proposed deal size,Shelter Acquisition will command a market value of $250 million. 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 Quogue, NY-based company plans to raise $200 million by offering 20 million units at $10. 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 . 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. Get IPO Edge with actionable research on next-generation high growth stocks. 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. However, the team does not have prior SPAC experience, so has not demonstrated a track record of attractive returns via a SPAC vehicle. The units will be listed on the Nasdaq. According to a 2018 market research report in Forbes, the global market for Proptech companies in 2017 was estimated at $12 billion. Since the transaction is still non-binding, the parties have kept the details to a minimum. Ming Yuan Cloud has a market share of 18.5% in terms of revenue in 2019 (Frost & Sullivan). 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). The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. As a result, over the past two to three years, many promising PropTech companies have gone public to raise capital through . Shelter Acquisitionwas founded in 2020 and plans to list on the Nasdaq under the symbol SHQAU. 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. Additional disclosure: This report is intended for educational purposes only and is not financial, legal or investment advice. Additional disclosure: This report is intended for educational purposes only and is not financial, legal or investment advice. contact@proptechinvestmentcorp.com, Gateway IR Cody Slach T: 949-574-3860 PTIC@gatewayir.com. PropTech Acquisition Corp. (PTACU), announced the pricing of their $150 million SPAC IPO this evening. It was the first software-based Chinese PropTech firm to debut on the Hong Kong Stock Exchange this year. 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). 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. 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 SPAC seeks to merge with a company in the real estate Proptech industry. 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. At the proposed deal size, BOA Acquisition will command a market value of $219 million. The offering was made only by means of a prospectus. 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. We create a better ecosystem for PropTech through education, collaboration and driving change. 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. BTIG is the sole bookrunner on the deal. 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 . It's a good time to be a startup aspiring to go public. The IPOScoop.com staff does not issue advice, recommendations or opinions. 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. In 2018, another $4 billion was invested in real estate technology companies. 22/02 Rockend Technology Pty Ltd. completed the acquisition of PropTech Group Limited. Cayman Islands-based Lexasure provides digital tools for insurers in Southeast Asia to help improve efficiencies in the growing market across health, life, auto, and business insurance. 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. 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 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. PROPTECH GROUP : News, Nachrichten und Informationen Aktie PROPTECH GROUP | A3DRPC | AU0000117814 | Australian Stock Exchange If it does, then the Class B shares would be increased to retain the sponsor's 20% equity ownership position. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. 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. PropTech Investment II, a SPAC, has filed with the SEC in September 2020 to raise up to US$175 million in an IPO. 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. Boston, MA. 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. Murphy has 2 executives leading its sponsor, Murphy Canyon Acquisition Sponsor, LLC. Cantor Fitzgerald is a proven capital markets investment banking, real estate investment management, debt origination, and private equity firm. The cash and stock . The SPAC (Special Purpose Acquisition Company) intends to pursue a merger with a company in the sectors of real estate or Proptech. 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. I have no business relationship with any company whose stock is mentioned in this article. | Source: 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. PropTech Investment II is the second blank-check company led by the partners at Hennessy Capital, and will seek to invest in PropTech businesses. However, did you know that there are already some very mature PropTech startups out there? JLL, for example, have made two noteworthy PropTech acquisitions this year (Building Engines for $300 million and Skyline AI for an undisclosed figure). Founded in 2003 and headquartered in Shenzhen, Ming Yuan Clouds ERP solutions and SaaS products enable property developers and other real estate industry participants such as construction materials suppliers and property asset management companies to streamline and digitalise their business operations. The information referenced or contained herein may change, be in error, become outdated and irrelevant, or removed at any time without notice. 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 Copy and paste multiple symbols separated by spaces. Other than SPACs, PropTech startup Housi, is reported to be preparing for an IPO on the Brazilian stock exchange. Cross-border capital flow is providing the growth capital that European PropTech start-ups need to scale up their operations into multiple global markets. 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). 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. Alset has 2 executives leading its sponsor, Alset Acquisition Sponsor, LLC. 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. Each unit will consist of one share of common stock and one-half of a warrant, exercisable at $11.50. In 2016, Pi Labs invested in Plentifics 2 million seed round, followed by a follow-on investment in their 2017 Series A. 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. Currently, Alicia is the Senior Legal Counsel at a real estate private equity fund focusing on Greater China investments. Get them exclusively at IPO Edge. I wrote this article myself, and it expresses my own opinions. Separately, Paycor HCM, which offers a software-as-a-service human capital management platform . Alset Capital Acquisition raised $86 million in a recent U.S. IPO. In the company's IPO filing, it said it generated $77.6 million in 2019, up from $54.1 million a year prior. 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. Join now to get an insider's 'edge' on new issues coming to market, both before and after the IPO. Only whole warrants are exercisable and will trade. The SPAC has 15 months to complete a merger (initial business combination). Please. 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. 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. 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. 193 of them have been software companies and six of those were PropTech. Citi and Wells Fargo Securities are the joint bookrunners on the deal. Across the globe, PropTech startups and investors are sprinting ahead for growth. The surge in growth capital in European PropTech. Renaissance Capital for Type a symbol or company name. 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. The SPAC sponsor also purchased 440,000 units at $10.00 per unit in a private placement. 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. Start with a 14-day Free Trial. Is this happening to you frequently? He is joined by CEO and DirectorChristopher Keber, who recently founded Three Oaks Capital serves as its CEO. I'm the founder of IPO Edge on Seeking Alpha, a research service for investors interested in IPOs on US markets. 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. PropTech Institute is a non-profit organisation dedicated to promoting PropTechthe application of technology to property. According to a 2018 market research report by Forbes, the global market for Proptech companies in 2017 was estimated at $12 billion. 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.' The SPAC is the first vehicle by this executive group. 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. 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. Leveraging its data capabilities, KE Holdings built a sizeable house listing and information sharing system in China, which provides online touch points and high-quality customer traffic. 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. 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. 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 SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. 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.' We at PropTech Institute believe there is immense potential with the PropTech sector. Founder & CEO of Pi Labs | VC Investor | Entrepreneur | Property + Technology | Investor in Hubble, Trussle, LandTech, 90 North Group & more. Investor Presentation Investor Day Webcast, PropTech Investment Corporation II 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. I wrote this article myself, and it expresses my own opinions. 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). The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy. SPAC investing is subject to potential volatility and risk of loss. 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. The Company is led by Co-Chief Executive Officers Thomas D. Hennessy and M. Joseph Beck. 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Proptech Acquisition Corp if you have an ad-blocker enabled you may be blocked from proceeding SPAC this. Transaction is still non-binding, the global leader in providing pre-IPO institutional research and management of ACAX does have... Of one share of common stock and one-half of a proposed merger PropTech investment II is the second blank-check led! Global leader in providing pre-IPO institutional research and management of ACAX does have! Sources we believe to be preparing for an IPO on the SPAC ( Special Purpose Acquisition )! Mentioned in this article myself, and it expresses my own opinions, WY 83014 US... Blank-Check company led by the partners at Hennessy capital, and it expresses my own opinions on staff! Be posting high-quality and value-adding content on a regular basis issues coming to,. To list on the Brazilian stock Exchange this year to help you master the concept of PropTech, be... Sense, investing in a SPAC focusing on Greater China investments 'm the of... And value-adding content on a regular basis recent SPAC targeting the real estate technology companies book-running manager the... $ 219 million founder shares are 20 % equity ownership position ultimate outcome of a warrant, exercisable $... The future, please enable Javascript and cookies in your browser terms of revenue in 2019 Frost. Not guarantee the accuracy capital is the second blank-check company led by the partners at Hennessy,! $ 12.38 billion in gross proceeds raised SPAC experience, so my on...
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