Written by Copy and paste multiple symbols separated by spaces. - 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. 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. PropTech's units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. Create your Watchlist to save your favorite quotes on Nasdaq.com. Founder shares are 20% of the total shares and consist of Class B shares. | January 4, 2023 You should perform your own research for your particular financial situation before making any decisions. Other than Ming Yuan Cloud and KE Holdings, another interesting development is in SPAC (Special Purpose Acquisition Companies) listings. Copies are available on the SECs website,www.sec.gov. Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products. Cross-border capital flow is providing the growth capital that European PropTech start-ups need to scale up their operations into multiple global markets. Members of IPO Edge get the latest IPO research, news, and industry analysis. It was formed, like other special purpose acquisitions companies this year, to raise money in an IPO and . M&A activity has been another hot topic in PropTech this year. Founders from the Pi Labs ecosystem gathered from all parts of the UK, elsewhere in Europe, as well as several from as far as Israel. 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. Renaissance Capital for PropTech IPOs - a case study of two recent PropTech listings, Alicia is the President and Co-Founder of PropTech Institute. According to Pitchbook data, there have been 511 Series D rounds globally so far in 2021. 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 is headquartered in Beijing and was listed on the New York Stock Exchange in August 2020. Also, in 2021, the real estate services firm estimated there were more than 6,000 Proptech or other real estate technology-related businesses worldwide. 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. With data drawn from Pitchbook, we can calculate that in the 693 days between their Series B and Series C announcements, Plentifics valuation increased at an average daily rate of 0.175%. Rockend Technology Pty Ltd. completed the . Total SPAC deal count for 2019 year-to-date is now 54 with $12.38 billion in gross proceeds raised. | July 7, 2022 Stay tuned and watch this space! PropTech Acquisition Corp Gateway IRCody Slach Matt Glover (949) 574-3860 PTAC@gatewayir.com. As the Latin saying goes, audentes fortuna iuvat. 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. Cody Slach Matt Glover (949) 574-3860 PTAC@gatewayir.com. The SPAC seeks to merge with a real estate or Proptech firm in Asia, with primary operations ex-China. Get IPO Edge with actionable research on next-generation high growth stocks. 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. 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. The SCOOP ratings should not be taken as investment advice. | February 28, 2023 . Copies of the prospectus may be obtained from Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 5th Floor New York, New York 10022; Email:prospectus@cantor.com. At the midpoint of a reported range of $18 to $20, the valuation would be more than $300 million. 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. 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. BTIG is the sole bookrunner on the deal. Pi Labs is proud to have invested follow-on capital during this round. Cantor Fitzgerald & Co. Inc., acted as sole book-running manager for the offering. 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 units. The Companys units are listed on the Nasdaq Capital Market (Nasdaq) and commenced trading under the ticker symbol PTACU on November 22, 2019. 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. 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. PropTech Acquisition Corp 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. Start with a 14-day Free Trial. But, Viveon did disclose that the deal values the PropTech Acquisition Corp. (PTACU) Prices $150M SPAC IPO, Sagaliam Acquisition Corp. (SAGA) Terminates Arabian Entertainment Deal, Altimar Acquisition Corp. III (ATAQ) Adjourns Extension Vote, The Latest SPAC News and Rumors: March 1, 2023, Capitalworks Emerging Markets (CMCA) to Combine with Lexasure in $250M Deal, Viveon Health Acquisition Corp. (VHAQ) Announces LOI. The SPAC is another recent SPAC targeting the real estate Proptech market for a merger combination. 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 is led by Co-Chief Executive Officers Thomas D. Hennessy and M. Joseph Beck. He is joined by CEO and DirectorChristopher Keber, who recently founded Three Oaks Capital serves as its CEO. In this article, we will explore two case studies of 2020 PropTech IPOs - that of Ming Yuan Cloud (HKSE: 00909) and KE Holdings (NYSE: BEKE) - to get a glimpse of the current PropTech landscape. 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 information referenced or contained herein may change, be in error, become outdated and irrelevant, or removed at any time without notice. The cash and stock . 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. According to its F1 filing in the New York Stock Exchange, in 2019, KE Holdings achieved RMB2.1 trillion total GTV, 2.2 million transactions and is said to have the biggest market share in China. 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. Founder shares are 20% of the total shares and consist of Class B shares. 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.' Management doesn't have an operating track record or previous experience with SPACs, so I'm on Hold on ACAX. This story involves the dominant US-based workplace experience platform acquiring the dominant Europe-based platform to create a truly intercontinental product. Ming Yuan Cloud has a market share of 18.5% in terms of revenue in 2019 (Frost & Sullivan). The information referenced or contained herein may change, be in error, become outdated and irrelevant, or removed at any time without notice. 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. | Source: The. In order to help you master the concept of PropTech, well be posting high-quality and value-adding content on a regular basis. from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. . 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. This round of funding was led by Murex Partners, with new participation from Atinum Investments, and follow-on investment from . 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. 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. Use tab to navigate through the menu items. Subscribers receive access to my proprietary research, valuation, data, commentary, opinions, and chat on U.S. IPOs. 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. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. I have no business relationship with any company whose stock is mentioned in this article. The SPAC sponsor also purchased 685,000 units at $10.00 per unit in a private placement. 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. Gain Insight and actionable information on U.S. IPOs with IPO Edge research. 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