In order to help you master the concept of PropTech, well be posting high-quality and value-adding content on a regular basis. The surge in growth capital in European PropTech. Shelter Acquisitionintends to concentrate on identifying businesses that provide technologically innovative solutions to the real estate industry, broadly defined as proptech. As highlighted in this article, there are a number of front runners chartering ahead. Type a symbol or company name. Founder shares are 20% of the total shares and consist of Class B shares. | July 7, 2022 Ming Yuan Cloud was listed on the Hong Kong Stock Exchange in September 2020. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Companys registration statement and preliminary prospectus for the offering filed with the Securities and Exchange Commission (SEC). Renaissance Capital for Once the securities comprising the units begin separate trading, shares of the Class A common stock and warrants are expected to be listed on Nasdaq under the symbols PTAC and PTACW, respectively. The SPAC is interesting because it is pursuing a merger in the real estate/proptech industries, with a likely focus on Asia ex-China. 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. Brought in to develop products that would simplify offerings and reduce the cost of deposits - researched/analyzed, scoped, socialized, built, and . The offering is being made only by means of a prospectus. 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. Looking for more investing ideas like this one? 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. Rockend Technology Pty Ltd. completed the . 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. The SPAC sponsor also purchased 685,000 units at $10.00 per unit in a private placement. 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. We create a better ecosystem for PropTech through education, collaboration and driving change. PropTech Investment II is the second blank-check company led by the partners at Hennessy Capital, and will seek to invest in PropTech businesses. 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. As a result, over the past two to three years, many promising PropTech companies have gone public to raise capital through . Subscribers receive access to my proprietary research, valuation, data, commentary, opinions, and chat on U.S. IPOs. 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. Appreciate commenced trading on the Nasdaq Stock Market under the ticker symbols SFR and SFRWW on November 30, 2022. 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. Copy and paste multiple symbols separated by spaces. 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 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. Currently, Alicia is the Senior Legal Counsel at a real estate private equity fund focusing on Greater China investments. Please. The SPAC may issue additional stock/units to effect a contemplated merger. Founder shares are 20% of the total shares and consist of Class B shares. B OA Acquisition, a blank check company targeting real estate technology, filed on Thursday with the SEC to raise up to $175 million in an initial public offering. SINGAPORE, March 01, 2023--PropertyGuru Group Limited (NYSE: PGRU) ("PropertyGuru" or the "Company"), Southeast Asia's leading1 property technology ("PropTech") company, today announced . And, with a capital tailwind behind them, this is the time for European start-ups to think big and be bold. 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. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Get them exclusively at IPO Edge. 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. Total SPAC deal count for 2019 year-to-date is now 54 with $12.38 billion in gross proceeds raised. SCMP - Tencent-backed real estate platform Beike aims to raise US$2 billion in New York IPO even as US tightens noose around WeChat: https://www.scmp.com/business/companies/article/3096604/tencent-backed-real-estate-platform-beike-aims-raise-us2-billion. If you have an ad-blocker enabled you may be blocked from proceeding. Innovations in property have the power to truly shift the way we live now and, in the future, and help tackle some of the most crucialand urgentsocial, economic and environmental issues. Each unit will consist of one share of common stock and one-half of a warrant, exercisable at $11.50. PROPTECH GROUP: attualit, news e informazioni azione PROPTECH GROUP | PTG | AU0000117814 | Australian Stock Exchange 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. Explore our recent updates here! Members of IPO Edge get the latest IPO research, news, and industry analysis. Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products. I'm the founder of IPO Edge on Seeking Alpha, a research service for investors interested in IPOs on US markets. 20/02 Real Estate & Construction News Round-Up (02/15/23) - Proptech Solutions, Supply .. 10/02 Australian . Cantor Fitzgerald & Co. Inc., acted as sole book-running manager for the offering. Join now to get an insider's 'edge' on new issues coming to market, both before and after the IPO. PropTech Acquisition Corporation (NASDAQ: PTAC) announced today that it priced its initial public offering of 15,000,000 units at $10.00 per unit. Investing in SPACs can be a volatile and opaque endeavor. Founder & CEO of Pi Labs | VC Investor | Entrepreneur | Property + Technology | Investor in Hubble, Trussle, LandTech, 90 North Group & more. 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 SPAC has 18 months to complete a merger (initial business combination). The units will be listed on the Nasdaq. I have no business relationship with any company whose stock is mentioned in this article. The offering is expected to close on Tuesday, November 26, 2019. Create your Watchlist to save your favorite quotes on Nasdaq.com. 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. 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. . Other than SPACs, PropTech startup Housi, is reported to be preparing for an IPO on the Brazilian stock exchange. Subscribers receive access to my proprietary research, valuation, data, commentary, opinions, and chat on U.S. IPOs. Cantor Fitzgerald & Co. acted as the sole book running manager for the offering. 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. co-Chief CFO of Alset EHome International and has more than 15 years of experience with private and public companies in the United States. 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. This round of funding was led by Murex Partners, with new participation from Atinum Investments, and follow-on investment from . He is joined by CEO and DirectorChristopher Keber, who recently founded Three Oaks Capital serves as its CEO. PropTech Investment II, the second blank check company led by partners at Hennessy Capital targeting a real estate technology business, filed on Wednesday with the SEC to raise up to $175 million in an initial public offering. This is European PropTechs largest full-equity VC round to date, rivalled only by debt financing, IPO, and post-IPO activity in the sector. Disclosure: Nobody on theIPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. 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. PropTech Investment II, a SPAC, has filed with the SEC in September 2020 to raise up to US$175 million in an IPO. The. The offering was priced at $10.00 per unit, resulting in gross proceeds of $172,500,000. 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. The SPAC (Special Purpose Acquisition Company) intends to pursue a merger with a company in the sectors of real estate or 'Proptech' industries with their primary business operations outside of China. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. RT=Real-Time, EOD=End of Day, PD=Previous Day. Ming Yuan Cloud has a market share of 18.5% in terms of revenue in 2019 (Frost & Sullivan). The SPAC is another recent SPAC targeting the real estate Proptech market for a merger combination. At the proposed deal size, BOA Acquisition will command a market value of $219 million. 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. Written by 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. Feb 4, 2021 5:30PM EST. 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. 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. 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-focused SPAC Shelter Acquisition files for a $200 million IPO February 17, 2021 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. 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. 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 2018, another $4 billion was invested in real estate technology companies. I am not receiving compensation for it (other than from Seeking Alpha). PropTech IPOs - a case study of two recent PropTech listings, Alicia is the President and Co-Founder of PropTech Institute. It was formed, like other special purpose acquisitions companies this year, to raise money in an IPO and . Shelter Acquisitionwas founded in 2020 and plans to list on the Nasdaq under the symbol SHQAU. Is this happening to you frequently? 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. November 21, 2019 16:55 ET The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. 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. Past performance is not indicative of future performance. Management doesn't have an operating track record or previous experience with SPACs, so I'm on Hold on ACAX. Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. 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. Ellenoff Grossman & Schole LLP and Graubard Miller, were Issuers Counsel and Underwriters Counsel, respectively. Item 1.01. 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. Please disable your ad-blocker and refresh. BOA Acquisition, a blank check company targeting real estate technology, filed on Thursday with the SEC to raise up to $175 million in an initial public offering. To illustrate this, lets do a quick back-of-envelope projection on Plentific based on recent valuations. I am not receiving compensation for it (other than from Seeking Alpha). This year, they closed their $100 million Series C round. Refresh the page, check Medium 's site status,. 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 . While MURF management has extensive industry experience, they don't have a previous SPAC track record, so I'm on Hold for the SPAC. Looking for more investing ideas like this one? 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). Cantor Fitzgerald is a proven capital markets investment banking, real estate investment management, debt origination, and private equity firm. 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. 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. 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 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. This story involves the dominant US-based workplace experience platform acquiring the dominant Europe-based platform to create a truly intercontinental product. It has been a pleasure to work closely with Jonny Britton and the amazing LandTech team since our seed round investment back in 2015. Company whose stock is mentioned in this article education, collaboration and driving change PropTech IPOs a. Subscribers receive access to my proprietary research, valuation, data, commentary,,. Article, there are a number of front runners chartering ahead page, Medium! Offering was priced at $ 10.00 per unit, resulting in gross of. A quick back-of-envelope projection on Plentific based on recent valuations number of runners! Shelter Acquisitionintends to concentrate on identifying businesses that provide technologically innovative solutions the! Unit, resulting in gross proceeds of $ 172,500,000 and private equity firm and be bold command... 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