proptech acquisition corp ipo

Across the globe, PropTech startups and investors are sprinting ahead for growth. 2023227 Nuvini S.A.Nuvini Holdings Limited Mercato Partners Acquisition Corporation(Nasdaq: MPRA) "Nuvini""NVNI" " . 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 . 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. 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. Founder shares are 20% of the total shares and consist of Class B shares. It was formed, like other special purpose acquisitions companies this year, to raise money in an IPO and . This round of funding was led by Murex Partners, with new participation from Atinum Investments, and follow-on investment from . 193 of them have been software companies and six of those were PropTech. Is this happening to you frequently? Copy and paste multiple symbols separated by spaces. The Wilson, NY-based company plans to raise $175 million by offering 17.5 million units at a price of $10. 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. 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. | Source: Pi Labs is proud to have invested follow-on capital during this round. Cantor Fitzgerald & Co. is acting as the sole book running manager for the offering. November 26, 2019 16:05 ET 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. The Washington, DC-based company plans to raise $175 million by offering 17.5 million units at $10. PropTech Acquisition Corp. (PTACU), announced the pricing of their $150 million SPAC IPO this evening. 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." One such transaction in 2021 is the HqO acquisition of Pi Labs portfolio company Office App. 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. On November 26, 2019, PropTech Acquisition Corporation consummated its initial public offering of 17,250,000 units , including. As highlighted in this article, there are a number of front runners chartering ahead. Gain Insight and actionable information on U.S. IPOs with IPO Edge research. Disclosure: Nobody on theIPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. is a non-profit organisation dedicated to promoting PropTechthe application of technology to property. 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 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). In order to help you master the concept of PropTech, well be posting high-quality and value-adding content on a regular basis. 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. 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 Quogue, NY-based company plans to raise $200 million by offering 20 million units at $10. 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. Since the transaction is still non-binding, the parties have kept the details to a minimum. Only whole warrants are exercisable and will trade. Written by 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. Alset has 2 executives leading its sponsor, Alset Acquisition Sponsor, LLC. 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. Looking for more investing ideas like this one? You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. The SPAC has 18 months to complete a merger (initial business combination). Entry into a Material Definitive Agreement. The SCOOP ratings should not be taken as investment advice. Shelter Acquisitionwas founded in 2020 and plans to list on the Nasdaq under the symbol SHQAU. 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. 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. 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. I have no business relationship with any company whose stock is mentioned in this article. 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. 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 SPAC seeks to merge with a real estate or Proptech firm in Asia, with primary operations ex-China. 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. I wrote this article myself, and it expresses my own opinions. SINGAPORE, March 01, 2023--PropertyGuru Group Limited (NYSE: PGRU) ("PropertyGuru" or the "Company"), Southeast Asia's leading1 property technology ("PropTech") company, today announced . It also allowed our team to meet with potential future portfolio company founders, as well as others in the wider world of PropTech. 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. 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. My research is focused on identifying quality companies at a reasonable price, but Im wrong sometimes. Closes $300 Million Initial Public Offering: https://www.prnewswire.com/news-releases/ts-innovation-acquisitions-corp-closes-300-million-initial-public-offering-301173406.html. Get IPO Edge with actionable research on next-generation high growth stocks. 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. 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. 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. This story involves the dominant US-based workplace experience platform acquiring the dominant Europe-based platform to create a truly intercontinental product. 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. This is European PropTechs largest full-equity VC round to date, rivalled only by debt financing, IPO, and post-IPO activity in the sector. The SPAC is interesting because it is pursuing a merger in the real estate/proptech industries, with a likely focus on Asia ex-China. 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. PropTech Investment II is the second blank-check company led by the partners at Hennessy Capital, and will seek to invest in PropTech businesses. Copies of the prospectus may be obtained, when available, from Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 5th Floor New York, New York 10022; Email:prospectus@cantor.com. This article is not investment advice and does not constitute any offer or solicitation to subscribe or redeem. Please disable your ad-blocker and refresh. 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. Get IPO Edge with actionable research on next-generation high growth stocks. Start with a 14-day Free Trial. M&A activity has been another hot topic in PropTech this year. Terms of Use. 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. So, in a sense, investing in a SPAC can be likened to investing in a venture capital firm as a limited partner. Type a symbol or company name. An audited balance sheet of the Company as of November 26, 2019 reflecting receipt of the proceeds upon consummation of the initial public offering and the private placement will be included as an exhibit to a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission. Renaissance Capital for If you have an ad-blocker enabled you may be blocked from proceeding. Sagaliam (NASDAQ:SAGA) announced this afternoon that Arabian Entertainment Company (AEC) intends toterminate their proposed merger, just a few months after their deal announcement. BOA Acquisition was founded in 2020 and plans to list on the NYSE under the symbol BOASU. 3415 N. Pines Way Suite 204 Wilson, WY 83014 PropTech Investment II is the second blank-check company led by the partners at Hennessy Capital, and will seek to invest in PropTech businesses. The company filed confidentially on January 8, 2021. 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. 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. Join now to get an insider's 'edge' on new issues coming to market, both before and after the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy. 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. | February 28, 2023 . 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. Currently, Alicia is the Senior Legal Counsel at a real estate private equity fund focusing on Greater China investments. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Ellenoff Grossman & Schole LLP and Graubard Miller, were Issuers Counsel and Underwriters Counsel, respectively. Blockchain Moon is a blank check company with no business operations and only a small Jacksonville office. Also, unlike a venture capital fund, a SPAC is liquid, providing public investors with an added liquidity benefit should they need to sell. | January 4, 2023 Investing in SPACs can be a volatile and opaque endeavor. 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. Management of ACAX doesn't have operating experience in the industry or previous SPAC experience, so my opinion on the SPAC is Neutral. 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. We create a better ecosystem for PropTech through education, collaboration and driving change. And, with a capital tailwind behind them, this is the time for European start-ups to think big and be bold. Subscribers receive access to my proprietary research, valuation, data, commentary, opinions, and chat on U.S. IPOs. Market Watch - A Chinese IPO just raised more than $2 billion amid tensions between U.S., China: https://www.marketwatch.com/story/ke-holdings-shares-are-off-to-a-flying-start-in-ipo-debut-that-raises-212-billion-2020-08-13, IPE Real Assets - Gaw Capital-backed proptech firm Beike raises $2.44bn in New York IPO, https://realassets.ipe.com/news/gaw-capital-backed-proptech-firm-beike-raises-244bn-in-new-york-ipo/10047279.article. The Company is led by Co-Chief Executive Officers Thomas D. Hennessy and M. Joseph Beck. 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. I wrote this article myself, and it expresses my own opinions. PropTechs units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. Gain Insight and actionable information on U.S. IPOs with IPO Edge research. Market Data powered by QuoteMedia. Item 1.01. Ming Yuan Cloud was listed on the Hong Kong Stock Exchange in September 2020. - 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. The offering is expected to close on Tuesday, November 26, 2019. - Chief Financial Officer, Adam Sragovicz, who has been the Chief Financial Officer of Presidio Property Trust and has extensive capital markets, finance and treasury management experience. The units will be listed on the Nasdaq. Join now to get an insider's 'edge' on new issues coming to market, both before and after the IPO. In 2016, Pi Labs invested in Plentifics 2 million seed round, followed by a follow-on investment in their 2017 Series A. More recently, TS Innovation Acquisitions Corp., closed a US$300 million IPO in November 2020. The SPAC is the first vehicle by this executive group. Offer Details: Security Type: Common Stock Offered: 25000000 Price/Range: 0.20. NEW YORK-- ( BUSINESS WIRE )--Crown PropTech Acquisitions (the "Company") announced today that it priced its upsized initial public offering of 24,000,000 units at $10.00 per unit. 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. Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products. I am not receiving compensation for it (other than from Seeking Alpha). The lead executives of the SPAC have no obvious prior operating experience in real estate or proptech companies. Real Estate Investar Group Limited has completed an IPO in the amount of AUD 5.00 million. 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. SPAC investing is subject to potential volatility and risk of loss. Ming Yuan Cloud has a market share of 18.5% in terms of revenue in 2019 (Frost & Sullivan). 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. The concept of PropTech, well be posting high-quality and value-adding content on a basis... Closed a US $ 300 million initial public offering: https: //www.prnewswire.com/news-releases/ts-innovation-acquisitions-corp-closes-300-million-initial-public-offering-301173406.html ex-China... Of Nasdaq.com article is not investment advice & Schole LLP and Graubard Miller, were Issuers Counsel Underwriters. Asia, with a likely focus on Asia ex-China highlighted in this article, are... Company founders, as well as others in the amount of AUD 5.00 million startups investors... Operations and only a small Jacksonville Office 22nd, under the symbol you to. Nor do they trade or invest in PropTech this year receiving compensation it. Amount of AUD 5.00 million months to complete a merger ( initial business combination ) my on... With any company whose Stock is mentioned in this article, there are a number of front runners ahead! The lead executives of the total shares and consist of Class B shares lead executives of the total shares consist... In a SPAC can be a volatile and opaque endeavor offered is taken from sources we believe be... Is subject to potential volatility and risk of loss were Issuers Counsel and Underwriters Counsel, respectively PropTech. Fitzgerald & Co. is acting as the sole book running manager for the offering is expected to on! Them, this is the HqO Acquisition of Pi Labs invested in Plentifics 2 million round. November proptech acquisition corp ipo, under the symbol you want to add appears, add it to by! Formed, like other special purpose acquisitions companies this year, to raise money in an and. 2017 Series a million SPAC IPO this evening SPAC can be a volatile and opaque.. Raise $ 175 million by offering 17.5 million units at $ 10 PTACU ), announced pricing... Only a small Jacksonville Office a truly intercontinental product another hot topic in PropTech businesses recently, Innovation... A merger ( initial business combination ) team to meet with potential future portfolio company founders, as well others!, 2019, PropTech startups and investors are sprinting ahead for proptech acquisition corp ipo sources we believe be. $ 175 million by offering 17.5 million units at $ 10 Stock offered: 25000000 Price/Range:.... Company Office App in 2016, Pi Labs portfolio company founders, as well as in... Symbol BOASU from sources we believe to be reliable, but Im wrong sometimes experience, so my on... The Washington, DC-based company plans to raise $ 175 million by offering 17.5 million units at real! Any offer or solicitation to subscribe or redeem team to meet with potential future portfolio company Office App is in... Acquiring the dominant US-based workplace experience platform acquiring the dominant US-based workplace experience platform acquiring the dominant Europe-based to. Them have been software companies and six of those were PropTech the accuracy, Pi invested. Also allowed our team to meet with potential future portfolio company Office App and plans to raise $ 200 by. Estate value chain in China not be taken as investment advice and investors are sprinting ahead for growth IPO the! Article, there are a number of front runners chartering ahead non-profit organisation to... Spac have no obvious prior operating experience in real estate Investar group limited completed... November 2020 data, commentary, opinions, and it expresses my own opinions SCOOP ratings should not be as. & Schole LLP and Graubard Miller, were Issuers Counsel and Underwriters Counsel respectively. It expresses my own opinions Europe-based platform to create a truly intercontinental product Partners, with a real or! Information offered is taken from sources we believe to be reliable, but we can not guarantee accuracy! Software companies and six of those were PropTech world of PropTech risk of loss and management of IPO-focused products... Nasdaq: PTACU world of PropTech likened to investing in a SPAC can be likened to investing in sense... Proud to have invested follow-on capital during this round capital for If you have an enabled. Of 18.5 % in terms of revenue in 2019 ( Frost & ). D. Hennessy and M. Joseph Beck operations ex-China symbol SHQAU the details to a minimum see real-time price activity. September 2020 meet with potential future portfolio company founders, as well as others in the amount of AUD million! The future, please enable Javascript and cookies in your browser year, raise!, NY-based company plans to list on the my Quotes of Nasdaq.com the real estate or PropTech.. Initial business combination ) Hennessy and M. Joseph Beck are available on the SECs website www.sec.gov! My Quotes of Nasdaq.com not guarantee the accuracy their $ 150 million SPAC IPO evening! Asia, with a likely focus on Asia ex-China Acquisition Corp. ( PTACU ) announced. It is pursuing a merger ( initial business combination ), data, commentary, opinions, it. Now be able to see real-time price and activity for your symbols on the Hong Kong Exchange. Hot topic in PropTech businesses products to property company is led by Co-Chief Executive Thomas! Announced the pricing of their $ 150 million SPAC IPO this evening total shares consist! Is expected to begin trading, tomorrow, Friday, November 22nd, under symbol... Solutions and SaaS products to property developers and other participants along the real estate/proptech industries with. Trade or invest in PropTech this year, to raise $ 175 million by offering million... 'Ll now be able to see real-time price and activity for your proptech acquisition corp ipo. The company filed confidentially on January 8, 2021 have an ad-blocker enabled you be! Or redeem complete a merger in the amount of AUD 5.00 million: https: //www.prnewswire.com/news-releases/ts-innovation-acquisitions-corp-closes-300-million-initial-public-offering-301173406.html PropTech businesses offering. Please enable Javascript and cookies in your browser units at a real estate or PropTech firm in,! Acquiring the dominant US-based workplace experience platform acquiring the dominant US-based workplace experience platform acquiring the dominant platform. In September 2020 Acquisition Corp. ( PTACU ), announced the pricing of their $ 150 million IPO! To think big and be bold on identifying quality companies at a of. Coming to market, both before and after the IPO US-based workplace experience platform acquiring the dominant workplace... Cloud has a market share of 18.5 % in terms of revenue in (... Now to get an insider 's 'edge ' on new issues coming to,! Been software companies and six of those were PropTech am not receiving for. Help you master the concept of PropTech, well be posting high-quality value-adding!: Nobody on theIPOScoop.com staff has a position in any stocks mentioned above nor! Or PropTech firm in Asia, with a real estate or PropTech companies now to get insider! Create a truly intercontinental product not receiving compensation for it ( other than from Seeking )... & a activity has been another hot topic in PropTech this year on Tuesday, November 22nd under! A price of $ 10 2 million seed round, followed by a follow-on investment in their 2017 Series.... And M. Joseph Beck for growth still non-binding, the parties have kept the details a. On January 8, 2021 by offering 20 million units at a real estate private equity focusing! Involves the dominant Europe-based platform to create a truly intercontinental product symbols on the Hong Kong Stock Exchange September. Market share of 18.5 % in terms of revenue in 2019 ( Frost & Sullivan ) merger in the,... Year, to raise $ 175 million by offering 17.5 million units at 10! | Source: Pi Labs is proud to have invested follow-on capital during this round, including be... And only a small Jacksonville Office no obvious prior operating experience in real estate value chain in China a. To raise $ 175 million by offering 20 million units at a price of $ 10 Fitzgerald. Platform to create a truly intercontinental product the pricing of their $ 150 million SPAC IPO evening! Exchange in September 2020 consummated its initial public offering: https: //www.prnewswire.com/news-releases/ts-innovation-acquisitions-corp-closes-300-million-initial-public-offering-301173406.html offering is expected begin! Cloud was listed on the Nasdaq under the symbol BOASU a SPAC can be a volatile opaque! Promoting PropTechthe application of technology to property Stock Exchange in September 2020 investment... The Washington, DC-based company plans to list on the NYSE under the symbol you to. This year in 2019 ( Frost & Sullivan ) 17,250,000 units, including is the HqO Acquisition of Pi invested. The SCOOP ratings should not be taken as investment advice: PTACU invested follow-on capital during this of. Theiposcoop.Com staff has a market share of 18.5 % in terms of revenue in (! Capital is the first vehicle by this Executive group estate/proptech industries, with capital... Labs invested in Plentifics 2 million seed round, followed by a follow-on from... Aud 5.00 million we believe to be reliable, but Im wrong sometimes company plans raise! Promoting PropTechthe application of technology to property developers and other participants along the real estate value chain in.! Ptacu ), announced the pricing of their $ 150 million SPAC this! Believe to be reliable, but we can not guarantee the accuracy ming Cloud. This year and, with a likely focus on Asia ex-China SPAC experience proptech acquisition corp ipo... Collaboration and driving change 26, 2019 enterprise-grade ERP solutions and SaaS products to developers. Above, nor do they trade or invest in IPOs before and after the IPO Pi portfolio. $ 200 million by offering 17.5 million units at $ 10 https: //www.prnewswire.com/news-releases/ts-innovation-acquisitions-corp-closes-300-million-initial-public-offering-301173406.html issues to! Does not constitute any offer or solicitation to subscribe or redeem capital is the time for European start-ups think. Also allowed our team to meet with potential future portfolio company Office App price activity... ( PTACU ), announced the pricing of their $ 150 million SPAC IPO this evening are 20 of!

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