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). The SPAC seeks to merge with a company in the real estate Proptech industry. 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. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. If you have an ad-blocker enabled you may be blocked from proceeding. 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/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. Copies are available on the SECs website,www.sec.gov. 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. is a non-profit organisation dedicated to promoting PropTechthe application of technology to property. 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. Ming Yuan Cloud Global Offering Prospectus: https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0915/2020091500029.pdf, https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0929/2020092900364.pdf, https://www.sec.gov/Archives/edgar/data/1809587/000104746920004229/a2242063zf-1.htm. Alset Capital Acquisition Corp. ( NASDAQ: ACAX) has raised $86.25 million from an IPO at a price of $10.00 per unit, according to the terms of its most recent S-1 regulatory filing. Real Estate Investar Group Limited has completed an IPO in the amount of AUD 5.00 million. Founder & CEO of Pi Labs | VC Investor | Entrepreneur | Property + Technology | Investor in Hubble, Trussle, LandTech, 90 North Group & more. 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. The Company is led by Co-Chief Executive Officers Thomas D. Hennessy and M. Joseph Beck. 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. 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. Northland Securities, Inc. acted as co-manager for the offering. 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. 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. Disclosure: Nobody on theIPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in 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. 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. Management of ACAX doesn't have operating experience in the industry or previous SPAC experience, so my opinion on the SPAC is Neutral. 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. 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. But its losses also widened, to $103 million in 2019 from $49.9 million in 2018. If it does, then the Class B shares would be increased to retain the sponsor's 20% equity ownership position. 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. 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 the US$103bn merger and restructuring of Cheung Kong Holdings (HKSE: 00001) and Hutchison Whampoa Limited (one of the largest ever Hong Kong public M&A transactions) and the HK$21.5 billion privatisation of New World China Land by New World Development (HKSE: 00017). Blockchain Moon is a blank check company with no business operations and only a small Jacksonville office. In 2021, we also saw cross-border investment in LandTechs 42 million Series A round led by Washington DC based venture firm Updata Partners. Proptech-focused SPAC Shelter Acquisition files for a $200 million IPO, Renaissance International ETF (symbol: IPOS), Do Not Sell My Personal Information (CA Residents Only). The SPAC is interesting because it is pursuing a merger in the real estate/proptech industries, with a likely focus on Asia ex-China. November 21, 2019 16:55 ET Copy and paste multiple symbols separated by spaces. Refresh the page, check Medium 's site status,. 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. Investing in SPACs can be a volatile and opaque endeavor. PropTech Acquisition: Financial Information: Market Cap: $187.5mil: Revenues: $0 mil (last 12 months) Net Income: $0 mil (last 12 months) IPO Profile: Symbol: PTACU: Exchange: NASDAQ: Shares (millions): . The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The Company is led by Co-Chief Executive Officers Thomas D. Hennessy and M. Joseph Beck. PropTech Acquisition Corp 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 . 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. These symbols will be available throughout the site during your session. So, in a sense, investing in a SPAC can be likened to investing in a venture capital firm as a limited partner. In 2016, Pi Labs invested in Plentifics 2 million seed round, followed by a follow-on investment in their 2017 Series A. I am not receiving compensation for it (other than from Seeking Alpha). PropTech Investment II, a SPAC, has filed with the SEC in September 2020 to raise up to US$175 million in an IPO. Please disable your ad-blocker and refresh. The SPAC (Special Purpose Acquisition Company) intends to pursue a merger with a company in the sectors of real estate or Proptech. 3485 N. Pines Way, Suite 110 Wilson, WY 83014, US. 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. 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. PropTechs units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. 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. RT=Real-Time, EOD=End of Day, PD=Previous Day. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Rockend Technology Pty Ltd. completed the . To illustrate this, lets do a quick back-of-envelope projection on Plentific based on recent valuations. 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. Retail investors are really just 'along for the ride,' with little influence on the ultimate outcome of a proposed merger. The Wilson, NY-based company plans to raise $175 million by offering 17.5 million units at a price of $10. Get IPO Edge with actionable research on next-generation high growth stocks. Murphy has 2 executives leading its sponsor, Murphy Canyon Acquisition Sponsor, LLC. 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. I have no business relationship with any company whose stock is mentioned in this article. 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. Alset Capital Acquisition raised $86 million in a recent U.S. IPO. Also, they have no prior SPAC experience, so their lack of a successful track record in these regards is notable. 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. Or Proptech My Quotes by selecting it and pressing Enter/Return saw cross-border in!, WY 83014, US Plentific based on recent valuations offering 17.5 million units a! 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