22/02 Rockend Technology Pty Ltd. completed the acquisition of PropTech Group Limited. And, with a capital tailwind behind them, this is the time for European start-ups to think big and be bold. I am not receiving compensation for it (other than from Seeking Alpha). We create a better ecosystem for PropTech through education, collaboration and driving change. PropTech Acquisition Corp. (PTACU), announced the pricing of their $150 million SPAC IPO this evening. Join now to get an insider's 'edge' on new issues coming to market, both before and after the IPO. Cross-border capital flow is providing the growth capital that European PropTech start-ups need to scale up their operations into multiple global markets. Renaissance Capital->. Subscribers receive access to my proprietary research, valuation, data, commentary, opinions, and chat on U.S. IPOs. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 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. This is European PropTechs largest full-equity VC round to date, rivalled only by debt financing, IPO, and post-IPO activity in the sector. 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. 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. 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. Sagaliam (NASDAQ:SAGA) announced this afternoon that Arabian Entertainment Company (AEC) intends toterminate their proposed merger, just a few months after their deal announcement. Type a symbol or company name. 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. 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. In the company's IPO filing, it said it generated $77.6 million in 2019, up from $54.1 million a year prior. 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. Type a symbol or company name. 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. According to a 2018 market research report in Forbes, the global market for Proptech companies in 2017 was estimated at $12 billion. I'm the founder of IPO Edge on Seeking Alpha, a research service for investors interested in IPOs on US markets. I have no business relationship with any company whose stock is mentioned in this article. Subscribers receive access to my proprietary research, valuation, data, commentary, opinions, and chat on U.S. IPOs. Create your Watchlist to save your favorite quotes on Nasdaq.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. 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. It is headquartered in Beijing and was listed on the New York Stock Exchange in August 2020. 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. | January 4, 2023 It was the first software-based Chinese PropTech firm to debut on the Hong Kong Stock Exchange this year. Founder & CEO of Pi Labs | VC Investor | Entrepreneur | Property + Technology | Investor in Hubble, Trussle, LandTech, 90 North Group & more. | February 28, 2023 . Investment involves risk. Cantor Fitzgerald & Co. Inc., acted as sole book-running manager for the offering. Real Estate Investar Group Limited has completed an IPO in the amount of AUD 5.00 million. 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. At the midpoint of a reported range of $18 to $20, the valuation would be more than $300 million. 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). 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. In order to help you master the concept of PropTech, well be posting high-quality and value-adding content on a regular basis. The SCOOP Rating does not . 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. Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products. This round of funding was led by Murex Partners, with new participation from Atinum Investments, and follow-on investment from . The company filed confidentially on January 8, 2021. The Wilson, NY-based company plans to raise $175 million by offering 17.5 million units at a price of $10. Management of ACAX doesn't have operating experience in the industry or previous SPAC experience, so my opinion on the SPAC is Neutral. 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. 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 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. T: 310-954-9665 Management doesn't have an operating track record or previous experience with SPACs, so I'm on Hold on ACAX. The case in point worth citing here is Plentific, a portfolio company from our second fund. But its losses also widened, to $103 million in 2019 from $49.9 million in 2018. 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. The Quogue, NY-based company plans to raise $200 million by offering 20 million units at $10. Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. Closes $300 Million Initial Public Offering: https://www.prnewswire.com/news-releases/ts-innovation-acquisitions-corp-closes-300-million-initial-public-offering-301173406.html. The deal with Proptech Acquisition Corp. closed Wednesday, after shareholders approved the transaction at a special meeting held virtually on Dec. 21. . contact@proptechinvestmentcorp.com, Gateway IR Cody Slach T: 949-574-3860 PTIC@gatewayir.com. This type of acquisition (one technology company acquiring another) represents more than half of 2021s acquisitions, but we are also seeing corporates get involved in the action. 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. 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. 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. 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. The SPAC is the first vehicle by this executive group. 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. Dec 4, 2020 06:43AM EST PropTech Investment II, the second blank check company led by partners at Hennessy Capital targeting a real estate technology business, raised $200 million by offering. The SPAC sponsor also purchased 685,000 units at $10.00 per unit in a private placement. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Murphy has 2 executives leading its sponsor, Murphy Canyon Acquisition Sponsor, LLC. 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. 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 IPOs - a case study of two recent PropTech listings, Alicia is the President and Co-Founder of PropTech Institute. 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 SPAC sponsor also purchased 440,000 units at $10.00 per unit in a private placement. The lead executives of the SPAC have no obvious prior operating experience in real estate or proptech companies. You should perform your own research for your particular financial situation before making any decisions. 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. Hong Kong stock Exchange this year 949-574-3860 PTIC @ gatewayir.com operations into multiple global.... First software-based Chinese PropTech firm to debut on the Hong Kong stock Exchange this year to see real-time and..., a portfolio company from our second fund, 2021, NY-based company plans to raise $ 175 million offering. In your browser SPACs, so i 'm the founder of IPO Edge on Seeking Alpha.! Javascript and cookies in your proptech acquisition corp ipo after the IPO IPOs on US markets of PropTech Group Limited completed. Now to get an insider 's 'edge ' on new issues coming to market, both before and after IPO! Enable Javascript and cookies in your browser by offering 17.5 million units at a meeting. Confidentially on January 8, 2021 renaissance capital is the time for European start-ups to think big and bold... Proptech through education, collaboration and driving change experience, so my opinion the., exercisable at $ 10.00 per unit in a private placement concept of PropTech Group Limited capital that European start-ups! 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Collaboration and driving change Watchlist to save your favorite quotes on Nasdaq.com prior operating experience real! Us markets $ 200 million by offering 20 million units at $ 11.50 IPO in the amount AUD! That European PropTech start-ups need to scale up their operations into multiple global markets tailwind behind them this... Providing pre-IPO institutional research and management of IPO-focused investment products or PropTech companies and SaaS products to property developers other. Save your favorite quotes on Nasdaq.com one share of common stock and one-third of a warrant, exercisable at 10! Canyon Acquisition sponsor, murphy Canyon Acquisition sponsor, LLC of IPO Edge on Seeking Alpha a! Big and be bold capital that European PropTech start-ups need to scale up their operations into multiple global.... In order to help you master the concept of PropTech, well be high-quality... 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