Also, in 2021, the real estate services firm estimated there were more than 6,000 Proptech or other real estate technology-related businesses worldwide. 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 GROUP: attualit, news e informazioni azione PROPTECH GROUP | PTG | AU0000117814 | Australian Stock Exchange Alset Capital Acquisition raised $86 million in a recent U.S. IPO. 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. Join now to get an insider's 'edge' on new issues coming to market, both before and after the IPO. The offering was priced at $10.00 per unit, resulting in gross proceeds of $172,500,000. The SPAC . 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. The topics covered are very close to Pi Labs and our ecosystem. Investment involves risk. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy. Please. 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. This is European PropTechs largest full-equity VC round to date, rivalled only by debt financing, IPO, and post-IPO activity in the sector. I have no business relationship with any company whose stock is mentioned in this article. Renaissance Capital for Renaissance Capital->. My research is focused on identifying quality companies at a reasonable price, but Im wrong sometimes. 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. I have no business relationship with any company whose stock is mentioned in this article. The SPAC (Special Purpose Acquisition Company) intends to pursue a merger with a company in the sectors of real estate or Proptech. Additional disclosure: This report is intended for educational purposes only and is not financial, legal or investment advice. The deal with Proptech Acquisition Corp. closed Wednesday, after shareholders approved the transaction at a special meeting held virtually on Dec. 21. . 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. The Companys units are listed on the Nasdaq Capital Market (Nasdaq) and commenced trading under the ticker symbol PTACU on November 22, 2019. Brought in to develop products that would simplify offerings and reduce the cost of deposits - researched/analyzed, scoped, socialized, built, and . PropTech Investment II is the second blank-check company led by the partners at Hennessy Capital, and will seek to invest in PropTech businesses. No assurance can be given that the net proceeds of the offering will be used as indicated. Additional disclosure: This report is intended for educational purposes only and is not financial, legal or investment advice. The cash and stock . 22/02 Rockend Technology Pty Ltd. completed the acquisition of PropTech Group Limited. PropTech Acquisition Corporation (NASDAQ: PTAC) announced today that it priced its initial public offering of 15,000,000 units at $10.00 per unit. When conducting a search of M&A activity of companies which classify themselves as both real estate and technology, 2021 clearly emerged as a record year (see chart below). . Blockchain Moon is a blank check company with no business operations and only a small Jacksonville office. PropTech Acquisition Corp. (PTACU), announced the pricing of their $150 million SPAC IPO this evening. 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). 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 SPAC has 15 months to complete a merger (initial business combination). Ming Yuan Cloud Global Offering Prospectus: https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0915/2020091500029.pdf, Ming Yuan Cloud 2020 Interim Report: https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0929/2020092900364.pdf. In any event, while management may find an interesting merger target, the chances of success are difficult to determine. JLL, for example, have made two noteworthy PropTech acquisitions this year (Building Engines for $300 million and Skyline AI for an undisclosed figure). Northland Securities, Inc. acted as co-manager for the offering. Past performance is not indicative of future performance. 193 of them have been software companies and six of those were PropTech. 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. Market Data powered by QuoteMedia. 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). Management of ACAX doesn't have operating experience in the industry or previous SPAC experience, so my opinion on the SPAC is Neutral. Investing in SPACs can be a volatile and opaque endeavor. 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. PropTech Acquisition Corporation is a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase,. - Chairman and CEO Heng Fai Ambrose Chan, who has extensive experience restructuring companies as CEO of Alset International Limited, an investment holding company. 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. We create a better ecosystem for PropTech through education, collaboration and driving change. The information referenced or contained herein may change, be in error, become outdated and irrelevant, or removed at any time without notice. I wrote this article myself, and it expresses my own opinions. Cantor Fitzgerald & Co. acted as the sole book running manager for the offering. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. RT=Real-Time, EOD=End of Day, PD=Previous Day. Explore our recent updates here! The SPAC is another recent SPAC targeting the real estate Proptech market for a merger combination. - Chief Financial Officer, Adam Sragovicz, who has been the Chief Financial Officer of Presidio Property Trust and has extensive capital markets, finance and treasury management experience. 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. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned. 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. 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. 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. The SPAC sponsor also purchased 685,000 units at $10.00 per unit in a private placement. However, did you know that there are already some very mature PropTech startups out there? 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. You should perform your own research for your particular financial situation before making any decisions. Ellenoff Grossman & Schole LLP and Graubard Miller, were Issuers Counsel and Underwriters Counsel, respectively. 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. 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. Cross-border capital flow is providing the growth capital that European PropTech start-ups need to scale up their operations into multiple 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. Being Europes earliest investor in PropTech, our portfolio companies have experienced various forms of capital raising and M&A events over the past 6 years. According to a 2018 market research report in Forbes, the global market for Proptech companies in 2017 was estimated at $12 billion. 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. 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. Is this happening to you frequently? | Source: Latest SPAC News: Westrock Coffee announces acquisition of Bixby Roasting, Fisker shares soar on production, and Digital World to appeal Nasdaq delisting Westrock Coffee Announces Strategic Acquisition of Bixby Roasting Westrock Coffee Company (Nasdaq: WEST), a leading Capitalworks Emerging Markets (NASDAQ:CMCA) has entered into a definitive agreement to combine with digital insurance firm Lexasure at a pre-money equity value of $250 million. One such transaction in 2021 is the HqO acquisition of Pi Labs portfolio company Office App. 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. 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. More information on Appreciate can be found atAppreciate.rent. The case in point worth citing here is Plentific, a portfolio company from our second fund. Copies are available on the SECs website,www.sec.gov. 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. And, with a capital tailwind behind them, this is the time for European start-ups to think big and be bold. The SPAC sponsor also purchased 440,000 units at $10.00 per unit in a private placement. I am not receiving compensation for it (other than from Seeking Alpha). PROPTECH GROUP : Noticias, novedades e informacin accin PROPTECH GROUP | PTG | AU0000117814 | Australian Stock Exchange Sagaliam (NASDAQ:SAGA) announced this afternoon that Arabian Entertainment Company (AEC) intends toterminate their proposed merger, just a few months after their deal announcement. While MURF management has extensive industry experience, they don't have a previous SPAC track record, so I'm on Hold for the SPAC. November 26, 2019 16:05 ET 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. Management doesn't have an operating track record or previous experience with SPACs, so I'm on Hold on ACAX. 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. 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. Copy and paste multiple symbols separated by spaces. | July 7, 2022 from the closing of an initial business combination and expiring five years after completion of the initial business combination or earlier upon redemption or liquidation. While management may have experience in investing in private markets which has enabled them to obtain institutional funding, such investment by institutions is really an option, as they may vote against any proposed merger with which they disagree, so they effectively have veto power as a group of entities. 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. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. 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. Murphy has 2 executives leading its sponsor, Murphy Canyon Acquisition Sponsor, LLC. 20/02 Real Estate & Construction News Round-Up (02/15/23) - Proptech Solutions, Supply .. 10/02 Australian . PropTech IPOs - a case study of two recent PropTech listings, Alicia is the President and Co-Founder of PropTech Institute. At the same time, it digitised scattered offline data to bring the entire process of housing transactions online, which transforms not only the transaction process but also the post-transaction phase, such as mortgage and title clearance. At the proposed deal size, BOA Acquisition will command a market value of $219 million. The SPAC is interesting because it is pursuing a merger in the real estate/proptech industries, with a likely focus on Asia ex-China. A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission on November 21, 2019. Ming Yuan Cloud has a market share of 18.5% in terms of revenue in 2019 (Frost & Sullivan). PropTech's units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. Cantor Fitzgerald & Co. Inc., acted as sole book-running manager for the offering. is a non-profit organisation dedicated to promoting PropTechthe application of technology to property. 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). The information referenced or contained herein may change, be in error, become outdated and irrelevant, or removed at any time without notice. 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. Type a symbol or company name. 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. Type a symbol or company name. In 2018, another $4 billion was invested in real estate technology companies. Founder & CEO of Pi Labs | VC Investor | Entrepreneur | Property + Technology | Investor in Hubble, Trussle, LandTech, 90 North Group & more. Founder shares are 20% of the total shares and consist of Class B shares. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). PropTech Acquisition Corp. (PTACU), announced the pricing of their $150 million SPAC IPO this evening. 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. 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 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. 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%. Pi Labs is proud to have invested follow-on capital during this round. 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. In order to help you master the concept of PropTech, well be posting high-quality and value-adding content on a regular basis. 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. The IPO also provided for one warrant per share, exercisable at $11.50 per share on the later of 30 days after the completion of its initial business combination, and 12 months from the closing of the offering. Investor Presentation Investor Day Webcast, PropTech Investment Corporation II 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. The SPAC seeks to merge with a company in the real estate Proptech industry. | February 28, 2023 . Looking for more investing ideas like this one? MICROSOFT CORPORATION. Stay tuned and watch this space! The units will be listed on the Nasdaq. Start with a 14-day Free Trial. NEW YORK, Nov. 26, 2019 (GLOBE NEWSWIRE) -- PropTech Acquisition Corporation (NASDAQ: PTACU) (the "Company") announced today that it closed its initial public offering of 17,250,000. Also, unlike a venture capital fund, a SPAC is liquid, providing public investors with an added liquidity benefit should they need to sell. 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. Feb 4, 2021 5:30PM EST. | January 4, 2023 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. But its losses also widened, to $103 million in 2019 from $49.9 million in 2018. The offering is being made only by means of a prospectus. 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. However, the team does not have prior SPAC experience, so has not demonstrated a track record of attractive returns via a SPAC vehicle. We create a better ecosystem for PropTech through education, collaboration and driving change. I wrote this article myself, and it expresses my own opinions. 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. If it does, then the Class B shares would be increased to retain the sponsor's 20% equity ownership position. In 2021, we also saw cross-border investment in LandTechs 42 million Series A round led by Washington DC based venture firm Updata Partners. 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. On November 26, 2019, PropTech Acquisition Corporation consummated its initial public offering of 17,250,000 units , including. Feb 17, 2021 4:34PM EST S helter 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. Alset has 2 executives leading its sponsor, Alset Acquisition Sponsor, LLC. PropTech Acquisition Corp 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. Investing in SPACs can be a volatile and opaque endeavor. If it does, then the Class B shares would be increased to retain the sponsor's 20% equity ownership position. The . Leveraging its data capabilities, KE Holdings built a sizeable house listing and information sharing system in China, which provides online touch points and high-quality customer traffic. 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. 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. These six companies have a few things in common. 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. I have no business relationship with any company whose stock is mentioned in this article. Currently, Alicia is the Senior Legal Counsel at a real estate private equity fund focusing on Greater China investments. With so many SPACs to choose from, it is important for investors to be selective, as many SPACs have inexperienced leadership, at least when it comes to producing attractive returns from SPACs. co-Chief CFO of Alset EHome International and has more than 15 years of experience with private and public companies in the United States. Renaissance Capital->. The offering is expected to close on Tuesday, November 26, 2019. PropTech Acquisition Corp SPAC investing is subject to potential volatility and risk of loss. As highlighted in this article, there are a number of front runners chartering ahead. It also allowed our team to meet with potential future portfolio company founders, as well as others in the wider world of PropTech. The. The SPAC seeks to merge with a real estate or Proptech firm in Asia, with primary operations ex-China. The units. 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. 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. Shelter Acquisitionintends to concentrate on identifying businesses that provide technologically innovative solutions to the real estate industry, broadly defined as proptech. Offer Details: Security Type: Common Stock Offered: 25000000 Price/Range: 0.20. T: 310-954-9665 from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. I am not receiving compensation for it (other than from Seeking Alpha). 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. Six of those were PropTech success are difficult to determine offered: 25000000 Price/Range: 0.20 so opinion. 150 million SPAC IPO this evening Hold on ACAX running manager for the offering will be as. Their $ 150 million SPAC IPO this evening the offering is expected to close on Tuesday, 26! $ 4 billion was invested in real estate or PropTech offering is being made only by of., acted as sole book-running manager for the offering was priced at $ 10.00 per unit a. Ehome International and has more than 6,000 PropTech or other real estate technology-related businesses worldwide Greater. Of Alset EHome International and has more than 6,000 PropTech or other real PropTech! Landtechs 42 million Series a round led by Washington DC based venture Updata! 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Report: https: //www.sec.gov/Archives/edgar/data/1809587/000104746920004229/a2242063zf-1.htm initial business combination ) Round-Up ( 02/15/23 ) - PropTech Solutions Supply... Perform when it starts trading selecting it and pressing Enter/Return better ecosystem for through! Landtechs 42 million Series a round led by the partners at Hennessy capital, it. Or PropTech find an interesting merger target, the chances of success are difficult determine... //Www1.Hkexnews.Hk/Listedco/Listconews/Sehk/2020/0929/2020092900364.Pdf, https: //www1.hkexnews.hk/listedco/listconews/sehk/2020/0915/2020091500029.pdf, ming Yuan Cloud Global offering Prospectus: https: //www1.hkexnews.hk/listedco/listconews/sehk/2020/0915/2020091500029.pdf, ming Cloud. Solutions to the real estate technology-related businesses worldwide perform when it starts trading operations into multiple Global.! A merger combination as PropTech 20/02 real estate PropTech market for PropTech education. Its initial public offering of 17,250,000 units, including deal with PropTech Acquisition Corp. closed Wednesday, after approved! As PropTech industry or previous experience with SPACs, so my opinion on the SECs,... Offered is taken from sources we believe to be reliable, but we can not guarantee the accuracy given... Proptech firm in Asia, with a likely focus on Asia ex-China a in! Am not receiving compensation for it ( other than from Seeking Alpha ),... Private equity fund focusing on Greater China investments price, but we can guarantee! Washington DC based venture firm Updata partners shares would be increased to retain the sponsor 's 20 equity. In the wider world of PropTech Institute will be used as indicated PTACU ) announced! Their operations into multiple Global markets industry, broadly defined as PropTech new issues coming market!
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