The offering is being made only by means of a prospectus. Investing in SPACs can be a volatile and opaque endeavor. PropTech Acquisition Corporation (NASDAQ: PTAC) announced today that it priced its initial public offering of 15,000,000 units at $10.00 per unit. So, my outlook on MURF is a Hold as I believe investors in SPACs need to be ultra-choosy and focus on those SPACs with great management teams and a history of positive returns to investors. No assurance can be given that the net proceeds of the offering will be used as indicated. It also speaks directly to the CRETech panel discussion. 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. Additional disclosure: This report is intended for educational purposes only and is not financial, legal or investment advice. Type a symbol or company name. follow-on investment in their 2017 Series A, they closed their $100 million Series C round, HqO acquisition of Pi Labs portfolio company Office App. 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. Subscribers receive access to my proprietary research, valuation, data, commentary, opinions, and chat on U.S. IPOs. If it does, then the Class B shares would be increased to retain the sponsor's 20% equity ownership position. This is European PropTechs largest full-equity VC round to date, rivalled only by debt financing, IPO, and post-IPO activity in the sector. Entry into a Material Definitive Agreement. PropTech Acquisition, a blank check company led by partners at Hennessy Capital targeting a real estate technology business, raised $150 million by offering 15 million units at $10, as. Looking for more investing ideas like this one? The SPAC sponsor also purchased 685,000 units at $10.00 per unit in a private placement. 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. Retail investors are really just 'along for the ride,' with little influence on the ultimate outcome of a proposed merger. Create your Watchlist to save your favorite quotes on Nasdaq.com. The SPAC is another recent SPAC targeting the real estate Proptech market for a merger combination. It also allowed our team to meet with potential future portfolio company founders, as well as others in the wider world of PropTech. 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. PropTech's units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. BOA Acquisition was founded in 2020 and plans to list on the NYSE under the symbol BOASU. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. These six companies have a few things in common. Copy and paste multiple symbols separated by spaces. PropTechs units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. November 26, 2019 16:05 ET So, in a sense, investing in a SPAC can be likened to investing in a venture capital firm as a limited partner. Other than Ming Yuan Cloud and KE Holdings, another interesting development is in SPAC (Special Purpose Acquisition Companies) listings. Blockchain Moon Acquisition Corp. brought its $100 million IPO to the market Oct. 18, as the company pursues acquisition targets. 2023227 Nuvini S.A.Nuvini Holdings Limited Mercato Partners Acquisition Corporation(Nasdaq: MPRA) "Nuvini""NVNI" " . The SPAC has 15 months to complete a merger (initial business combination). I wrote this article myself, and it expresses my own opinions. 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. Cody Slach Matt Glover (949) 574-3860 PTAC@gatewayir.com. At the midpoint of a reported range of $18 to $20, the valuation would be more than $300 million. 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. Join now to get an insider's 'edge' on new issues coming to market, both before and after the IPO. Renaissance Capital for - 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. 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. The units. The company is led by ChairmanScott Seligman, who also serves as Chairman of The Seligman Group; CEO and CIO Brian Friedman, who currently servesas the Managing Partner of Foxhall Partners, as well as Founder and Partner at Friedman Capital; and CFO Benjamin Friedman, a former Director and Senior Trader at Citigroup Global Markets. Each unit consists of one share of the Companys Class A common stock and one-half of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. We hypothesize that this much awaited maturation of the market will lead to a number of outcomes including a steady rise in IPOs (of the SPAC and traditional variety), of exits (both large and small), and of European unicorn start-ups going global. 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. MICROSOFT CORPORATION. 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 Company is led by Co-Chief Executive Officers Thomas D. Hennessy and M. Joseph Beck. 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). 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. Gateway IRCody Slach Matt Glover (949) 574-3860 PTAC@gatewayir.com. 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. 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. 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Post-IPO, if Valor's stake is valued at . 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. So, in a sense, investing in a SPAC can be likened to investing in a venture capital firm as a limited partner. 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. Copy and paste multiple symbols separated by spaces. 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. PropTech Investment Corporation II Completes Business Combination with Appreciate Press Release PropTech Investment Corporation II 3415 N. Pines Way Suite 204 Wilson, WY 83014 T: 310-954-9665 contact@proptechinvestmentcorp.com Gateway IR Cody Slach T: 949-574-3860 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. Copies are available on the SECs website,www.sec.gov. 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. 20/02 Real Estate & Construction News Round-Up (02/15/23) - Proptech Solutions, Supply .. 10/02 Australian . 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. Appreciate commenced trading on the Nasdaq Stock Market under the ticker symbols SFR and SFRWW on November 30, 2022. 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. Investor Presentation Investor Day Webcast, PropTech Investment Corporation II In 2018, another $4 billion was invested in real estate technology companies. I have no business relationship with any company whose stock is mentioned in this article. The SPAC is the first vehicle by this executive group. 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. Type a symbol or company name. The deal with Proptech Acquisition Corp. closed Wednesday, after shareholders approved the transaction at a special meeting held virtually on Dec. 21. . If it does, then the Class B shares would be increased to retain the sponsor's 20% equity ownership position. Start with a 14-day Free Trial. The company is led by CIO and ChairmanJack Chandler, who founded Majesteka Investments in 2017 and previously served as Global Head and Chairman of Real Estate at BlackRock from 2011 to 2017. Total SPAC deal count for 2019 year-to-date is now 54 with $12.38 billion in gross proceeds raised. - Chairman and CEO Heng Fai Ambrose Chan, who has extensive experience restructuring companies as CEO of Alset International Limited, an investment holding company. 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