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. 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 Acquisition Corporation (NASDAQ: PTAC) announced today that it priced its initial public offering of 15,000,000 units at $10.00 per unit. According to a 2018 market research report in Forbes, the global market for Proptech companies in 2017 was estimated at $12 billion. 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. The SPAC . 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. Start with a 14-day Free Trial. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. More information on Appreciate can be found atAppreciate.rent. Also, in 2021, the real estate services firm estimated there were more than 6,000 Proptech or other real estate technology-related businesses worldwide. 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. 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. PropTechs units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. Other than SPACs, PropTech startup Housi, is reported to be preparing for an IPO on the Brazilian stock exchange. Get IPO Edge with actionable research on next-generation high growth stocks. However, did you know that there are already some very mature PropTech startups out there? The SPAC (Special Purpose Acquisition Company) intends to pursue a merger with a company in the sectors of real estate or Proptech. Alicia is the President and Co-Founder of PropTech Institute. 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. AMAZON.COM, INC. APPLE INC. TESLA, INC. META PLATFORMS, INC. NVIDIA CORPORATION. Investment involves risk. However, the team does not have prior SPAC experience, so has not demonstrated a track record of attractive returns via a SPAC vehicle. Investing in SPACs can be a volatile and opaque endeavor. | Source: 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. It has been a pleasure to work closely with Jonny Britton and the amazing LandTech team since our seed round investment back in 2015. Is this happening to you frequently? 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. Boston, MA. PropTech's units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. The information referenced or contained herein may change, be in error, become outdated and irrelevant, or removed at any time without notice. A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission on November 21, 2019. Mr. Hennessy will be joined by M. Joseph Beck, as Co-ChiefExecutive Officer, Chief Financial Officer and Director. If you have an ad-blocker enabled you may be blocked from proceeding. 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. 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.' 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. Gateway IRCody Slach Matt Glover (949) 574-3860 PTAC@gatewayir.com. It's a good time to be a startup aspiring to go public. 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. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Create your Watchlist to save your favorite quotes on Nasdaq.com. 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. Northland Securities, Inc. acted as co-manager for the offering. So, in a sense, investing in a SPAC can be likened to investing in a venture capital firm as a limited partner. The Company is led by Co-Chief Executive Officers Thomas D. Hennessy and M. Joseph Beck. 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. Entry into a Material Definitive Agreement. 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. I wrote this article myself, and it expresses my own opinions. Founder & CEO of Pi Labs | VC Investor | Entrepreneur | Property + Technology | Investor in Hubble, Trussle, LandTech, 90 North Group & more. 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. PropTech - which stands for property technology - may be an unfamiliar term for some. The deal with Proptech Acquisition Corp. closed Wednesday, after shareholders approved the transaction at a special meeting held virtually on Dec. 21. . In 2021, we also saw cross-border investment in LandTechs 42 million Series A round led by Washington DC based venture firm Updata Partners. The units will be listed on the Nasdaq. The company filed confidentially on January 8, 2021. Copies are available on the SECs website,www.sec.gov. 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. The Companys units are listed on the Nasdaq Capital Market (Nasdaq) and commenced trading under the ticker symbol PTACU on November 22, 2019. 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. These symbols will be available throughout the site during your session. Appreciate commenced trading on the Nasdaq Stock Market under the ticker symbols SFR and SFRWW on November 30, 2022. Investor Presentation Investor Day Webcast, PropTech Investment Corporation II Members of IPO Edge get the latest IPO research, news, and industry analysis. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. This is European PropTechs largest full-equity VC round to date, rivalled only by debt financing, IPO, and post-IPO activity in the sector. 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." Also, in 2021, the real estate services firm estimated there were more than 6,000 Proptech or other real estate technology-related businesses worldwide. PropTech Acquisition Corporation is a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase,. 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. Post-IPO, if Valor's stake is valued at . Retail investors are really just 'along for the ride,' with little influence on the ultimate outcome of a proposed merger. Join now to get an insider's 'edge' on new issues coming to market, both before and after the IPO. Renaissance Capital for 3415 N. Pines Way Suite 204 Wilson, WY 83014 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.' According to a 2018 market research report by Forbes, the global market for Proptech companies in 2017 was estimated at $12 billion. 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. Cross-border capital flow is providing the growth capital that European PropTech start-ups need to scale up their operations into multiple global markets. This year, they closed their $100 million Series C round. The Washington, DC-based company plans to raise $175 million by offering 17.5 million units at $10. Founded in 2003 and headquartered in Shenzhen, Ming Yuan Clouds ERP solutions and SaaS products enable property developers and other real estate industry participants such as construction materials suppliers and property asset management companies to streamline and digitalise their business operations. 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. 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. . 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. 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. Type a symbol or company name. Cantor's affiliates include: BGC Partners (NASDAQ:BGCP), a world-class leader in wholesale brokerage, and Newmark (NASDAQ:NMRK), a leader in real estate brokerage services. 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. Explore our recent updates here! As a result, over the past two to three years, many promising PropTech companies have gone public to raise capital through . Market Data powered by QuoteMedia. I wrote this article myself, and it expresses my own opinions. The offering is being made only by means of a prospectus. 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