22/02 Rockend Technology Pty Ltd. completed the acquisition of PropTech Group Limited. 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. from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. It also allowed our team to meet with potential future portfolio company founders, as well as others in the wider world of PropTech. 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. Is this happening to you frequently? The offering is being made only by means of a prospectus. 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's units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. | January 4, 2023 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. Each unit will consist of one share of common stock and one-half of a warrant, exercisable at $11.50. 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. 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. Explore our recent updates here! 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 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. 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. Market Data copyright 2023 QuoteMedia. 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. The Quogue, NY-based company plans to raise $200 million by offering 20 million units at $10. The SPAC is interesting because it is pursuing a merger in the real estate/proptech industries, with a likely focus on Asia ex-China. Management of ACAX doesn't have operating experience in the industry or previous SPAC experience, so my opinion on the SPAC is Neutral. As a result, over the past two to three years, many promising PropTech companies have gone public to raise capital through . Feb 4, 2021 5:30PM EST. Market Data powered by QuoteMedia. Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums), is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. 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. 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. 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. I have no business relationship with any company whose stock is mentioned in this article. Gain Insight and actionable information on U.S. IPOs with IPO Edge research. 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.' 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." In 2018, another $4 billion was invested in real estate technology companies. So, in a sense, investing in a SPAC can be likened to investing in a venture capital firm as a limited partner. The units will be listed on the Nasdaq. PropTech Acquisition Corp. (PTACU), announced the pricing of their $150 million SPAC IPO this evening. I wrote this article myself, and it expresses my own opinions. The information referenced or contained herein may change, be in error, become outdated and irrelevant, or removed at any time without notice. Other than SPACs, PropTech startup Housi, is reported to be preparing for an IPO on the Brazilian stock exchange. I'm the founder of IPO Edge on Seeking Alpha, a research service for investors interested in IPOs on US markets. Separately, Paycor HCM, which offers a software-as-a-service human capital management platform . The Washington, DC-based company plans to raise $175 million by offering 17.5 million units at $10. PROPTECH GROUP : Noticias, novedades e informacin accin PROPTECH GROUP | PTG | AU0000117814 | Australian Stock Exchange This round of funding was led by Murex Partners, with new participation from Atinum Investments, and follow-on investment from . 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 If you have an ad-blocker enabled you may be blocked from proceeding. - 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. 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. 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. 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. 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. 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 units will be listed on the Nasdaq Capital Market (Nasdaq) and will begin trading tomorrow, Friday, November 22, 2019, under the ticker symbol PTACU. It's a good time to be a startup aspiring to go public. I'm the founder of IPO Edge on Seeking Alpha, a research service for investors interested in IPOs on US markets. 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. Subscribers receive access to my proprietary research, valuation, data, commentary, opinions, and chat on U.S. IPOs. 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. We create a better ecosystem for PropTech through education, collaboration and driving change. 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. SEC TS Innovation Acquisitions Corp. Form S-1: https://www.sec.gov/Archives/edgar/data/1826000/000119312520286550/d884122ds1a.htm. In 2016, Pi Labs invested in Plentifics 2 million seed round, followed by a follow-on investment in their 2017 Series A. 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. 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. I am not receiving compensation for it (other than from Seeking Alpha). Alicia is the President and Co-Founder of PropTech Institute. Although all of them are based in the US, we can expect to see a number of late-stage European rounds in the next couple of years. 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. Please disable your ad-blocker and refresh. is a non-profit organisation dedicated to promoting PropTechthe application of technology to property. The SPAC may issue additional stock/units to effect a contemplated merger. Renaissance Capital->. . | Source: 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. 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. T: 310-954-9665 The company is led by ChairmanScott Seligman, who also serves as Chairman of The Seligman Group; CEO and CIO Brian Friedman, who currently servesas the Managing Partner of Foxhall Partners, as well as Founder and Partner at Friedman Capital; and CFO Benjamin Friedman, a former Director and Senior Trader at Citigroup Global Markets. It is headquartered in Beijing and was listed on the New York Stock Exchange in August 2020. Entry into a Material Definitive Agreement. So, in a sense, investing in a SPAC can be likened to investing in a venture capital firm as a limited partner. It was the first software-based Chinese PropTech firm to debut on the Hong Kong Stock Exchange this year. - Chairman and CEO Heng Fai Ambrose Chan, who has extensive experience restructuring companies as CEO of Alset International Limited, an investment holding company. 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. 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. 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. (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. And, with a capital tailwind behind them, this is the time for European start-ups to think big and be bold. SPAC investing is subject to potential volatility and risk of loss. 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. Members of IPO Edge get the latest IPO research, news, and industry analysis. Cody Slach Matt Glover (949) 574-3860 PTAC@gatewayir.com. As the Latin saying goes, audentes fortuna iuvat. 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. Total SPAC deal count for 2019 year-to-date is now 54 with $12.38 billion in gross proceeds raised. RT=Real-Time, EOD=End of Day, PD=Previous Day. 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 SPAC sponsor also purchased 685,000 units at $10.00 per unit in a private placement. 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 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. 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. Cantor Fitzgerald & Co. Inc., acted as sole book-running manager for the offering. The SPAC sponsor also purchased 440,000 units at $10.00 per unit in a private placement. A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission on November 21, 2019. The Wilson, NY-based company plans to raise $175 million by offering 17.5 million units at a price of $10. 20/02 Real Estate & Construction News Round-Up (02/15/23) - Proptech Solutions, Supply .. 10/02 Australian . I have no business relationship with any company whose stock is mentioned in this article. 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. 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. Is this happening to you frequently? The deal with Proptech Acquisition Corp. closed Wednesday, after shareholders approved the transaction at a special meeting held virtually on Dec. 21. . Stay tuned and watch this space! November 26, 2019 16:05 ET 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. This year, they closed their $100 million Series C round. Also, unlike a venture capital fund, a SPAC is liquid, providing public investors with an added liquidity benefit should they need to sell. 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 surge in growth capital in European PropTech. PropTech Investment II, a SPAC, has filed with the SEC in September 2020 to raise up to US$175 million in an IPO. Disclosure: Nobody on theIPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The cash and stock . Only whole warrants will trade and are exercisable. Blockchain Moon is a blank check company with no business operations and only a small Jacksonville office. Cantor Fitzgerald is a proven capital markets investment banking, real estate investment management, debt origination, and private equity firm. Shelter Acquisitionwas founded in 2020 and plans to list on the Nasdaq under the symbol SHQAU. PropTech is not as nascent as some may think. 3485 N. Pines Way, Suite 110 Wilson, WY 83014, US. Were a global Venture Capital organisation investing in the ideas that are shaping the. Please disable your ad-blocker and refresh. 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 . Subscribers receive access to my proprietary research, valuation, data, commentary, opinions, and chat on U.S. IPOs. 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. PropTech IPOs - a case study of two recent PropTech listings, Alicia is the President and Co-Founder of PropTech Institute. The units. 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. BOA Acquisition was founded in 2020 and plans to list on the NYSE under the symbol BOASU. If you have an ad-blocker enabled you may be blocked from proceeding. 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. 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. 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. Murphy has 2 executives leading its sponsor, Murphy Canyon Acquisition Sponsor, LLC. San Diego, California-based Murphy sold 13.225 million units of Class A common stock at a price of $10.00 per unit for gross proceeds of approximately $132.25 million, not including the sale of customary underwriter options. 3415 N. Pines Way Suite 204 Wilson, WY 83014 Looking for more investing ideas like this one? Get IPO Edge with actionable research on next-generation high growth stocks. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SPAC has 18 months to complete a merger (initial business combination). 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. In 2021, we also saw cross-border investment in LandTechs 42 million Series A round led by Washington DC based venture firm Updata Partners. This article is not investment advice and does not constitute any offer or solicitation to subscribe or redeem. The SPAC . PropTech Acquisition Corporation is a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase,. I wrote this article myself, and it expresses my own opinions. Last week the Pi Labs team had the privilege of attending the UKs first face-to-face CRETech event since the pandemic. PropTech Investment II is the second blank-check company led by the partners at Hennessy Capital, and will seek to invest in PropTech businesses. SPAC investing is subject to potential volatility and risk of loss. Rockend Technology Pty Ltd. completed the . It has been a pleasure to work closely with Jonny Britton and the amazing LandTech team since our seed round investment back in 2015. 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. PropTech Institute is a non-profit organisation dedicated to promoting PropTechthe application of technology to property. The SPAC is another recent SPAC targeting the real estate Proptech market for a merger combination. 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 . Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. Start with a 14-day Free Trial. Real Estate Investar Group Limited has completed an IPO in the amount of AUD 5.00 million. Mr. Hennessy will be joined by M. Joseph Beck, as Co-ChiefExecutive Officer, Chief Financial Officer and Director. 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. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Renaissance Capital for 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. I wrote this article myself, and it expresses my own opinions. - 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.
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