A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission on November 21, 2019. 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. Renaissance Capital for 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. JLL, for example, have made two noteworthy PropTech acquisitions this year (Building Engines for $300 million and Skyline AI for an undisclosed figure). To illustrate this, lets do a quick back-of-envelope projection on Plentific based on recent valuations. PropTech - which stands for property technology - may be an unfamiliar term for some. 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. Boston, MA. PropTech-focused SPAC BOA Acquisition files for a $175 million IPO, Renaissance International ETF (symbol: IPOS), Do Not Sell My Personal Information (CA Residents Only). The case in point worth citing here is Plentific, a portfolio company from our second fund. | July 7, 2022 PROPTECH GROUP: attualit, news e informazioni azione PROPTECH GROUP | PTG | AU0000117814 | Australian Stock Exchange Only whole warrants are exercisable and will trade. I have no business relationship with any company whose stock is mentioned in this article. Acquisitions, IPOs, and the evolution of PropTech | by Faisal Butt | Pi Labs Insights | Medium 500 Apologies, but something went wrong on our end. 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. Investor Presentation Investor Day Webcast, PropTech Investment Corporation II 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 22/02 Rockend Technology Pty Ltd. completed the acquisition of PropTech Group Limited. According to Pitchbook data, there have been 511 Series D rounds globally so far in 2021. Cody Slach Matt Glover (949) 574-3860 PTAC@gatewayir.com. Item 1.01. The topics covered are very close to Pi Labs and our ecosystem. Market Data copyright 2023 QuoteMedia. Create your Watchlist to save your favorite quotes on Nasdaq.com. Citi and Wells Fargo Securities are the joint bookrunners on the deal. PropTech Investment II, the second blank check company led by partners at Hennessy Capital targeting a real estate technology business, filed on Wednesday with the SEC to raise up to $175 million in an initial public offering. These symbols will be available throughout the site during your session. The units will be listed on the Nasdaq. Gain Insight and actionable information on U.S. IPOs with IPO Edge research. Create your Watchlist to save your favorite quotes on Nasdaq.com. I am not receiving compensation for it (other than from Seeking Alpha). 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. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. 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. 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. It was the first software-based Chinese PropTech firm to debut on the Hong Kong Stock Exchange this year. Disclosure: Nobody on theIPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. Also, unlike a venture capital fund, a SPAC is liquid, providing public investors with an added liquidity benefit should they need to sell. While MURF management has extensive industry experience, they don't have a previous SPAC track record, so I'm on Hold for the SPAC. 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. AMAZON.COM, INC. APPLE INC. TESLA, INC. META PLATFORMS, INC. NVIDIA CORPORATION. I am not receiving compensation for it (other than from Seeking Alpha). We create a better ecosystem for PropTech through education, collaboration and driving change. The SPAC . 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. 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." 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. 2023227 Nuvini S.A.Nuvini Holdings Limited Mercato Partners Acquisition Corporation(Nasdaq: MPRA) "Nuvini""NVNI" " . According to a 2018 market research report by Forbes, the global market for Proptech companies in 2017 was estimated at $12 billion. 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. 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. Renaissance Capital->. As a result, over the past two to three years, many promising PropTech companies have gone public to raise capital through . 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. 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. The . 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. Additional disclosure: This report is intended for educational purposes only and is not financial, legal or investment advice. - Chairman and CEO Heng Fai Ambrose Chan, who has extensive experience restructuring companies as CEO of Alset International Limited, an investment holding company. - 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. Written by Each unit will consist of one share of common stock and one-half of a warrant, exercisable at $11.50. In any event, while management may find an interesting merger target, the chances of success are difficult to determine. 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. 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. 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. According to a 2018 market research report in Forbes, the global market for Proptech companies in 2017 was estimated at $12 billion. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. NEW YORK-- ( BUSINESS WIRE )--Crown PropTech Acquisitions (the "Company") announced today that it priced its upsized initial public offering of 24,000,000 units at $10.00 per unit. Renaissance Capital for The offering was priced at $10.00 per unit, resulting in gross proceeds of $172,500,000. 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. Cantor Fitzgerald & Co. is acting as the sole book running manager for the offering. If it does, then the Class B shares would be increased to retain the sponsor's 20% equity ownership position. Like PropTech Investment II, TS Innovation Acquisitions Corp. is also a SPAC focusing on investments in PropTech. PropTech is not as nascent as some may think. On November 26, 2019, PropTech Acquisition Corporation consummated its initial public offering of 17,250,000 units , including. The SPAC sponsor also purchased 440,000 units at $10.00 per unit in a private placement. SPAC investing is subject to potential volatility and risk of loss. I have no business relationship with any company whose stock is mentioned in this article. In 2021, we also saw cross-border investment in LandTechs 42 million Series A round led by Washington DC based venture firm Updata Partners. 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. Post-IPO, if Valor's stake is valued at . My research is focused on identifying quality companies at a reasonable price, but Im wrong sometimes. Members of IPO Edge get the latest IPO research, news, and industry analysis. PropTech Investment II, a SPAC, has filed with the SEC in September 2020 to raise up to US$175 million in an IPO. So, in a sense, investing in a SPAC can be likened to investing in a venture capital firm as a limited partner. 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. Total SPAC deal count for 2019 year-to-date is now 54 with $12.38 billion in gross proceeds raised. 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. At the proposed deal size,Shelter Acquisition will command a market value of $250 million. Subscribers receive access to my proprietary research, valuation, data, commentary, opinions, and chat on U.S. IPOs. PropTech Institute is a non-profit organisation dedicated to promoting PropTechthe application of technology to property. 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). Additional disclosure: This report is intended for educational purposes only and is not financial, legal or investment advice. from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. I'm the founder of IPO Edge on Seeking Alpha, a research service for investors interested in IPOs on US markets. 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. It was formed, like other special purpose acquisitions companies this year, to raise money in an IPO and . Retail investors are really just 'along for the ride,' with little influence on the ultimate outcome of a proposed merger. 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. 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. Please disable your ad-blocker and refresh. 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. Pi Labs is proud to have invested follow-on capital during this round. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. Copy and paste multiple symbols separated by spaces. The surge in growth capital in European PropTech. Bloomberg - Tencent-Backed Beike Files U.S. IPO, Said to Aim for $2 Billion: https://www.bloomberg.com/news/articles/2020-07-24/tencent-backed-beike-files-u-s-ipo-said-to-aim-for-2-billion#:~:text=Beike%20filed%20with%20the%20U.S.,to%20data%20compiled%20by%20Bloomberg. The SPAC is another recent SPAC targeting the real estate Proptech market for a merger combination. 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. Get them exclusively at IPO Edge. 3415 N. Pines Way Suite 204 Wilson, WY 83014 The company filed confidentially on January 8, 2021. 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 PropTech Investment II, a SPAC, has filed with the SEC in September 2020 to raise up to US$175 million in an IPO. PropTechs units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. 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. These six companies have a few things in common. 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. Please. Start with a 14-day Free Trial. The SPAC has 18 months to complete a merger (initial business combination). | February 28, 2023 . More recently, TS Innovation Acquisitions Corp., closed a US$300 million IPO in November 2020. The cash and stock . Type a symbol or company name. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. The SPAC is the first vehicle by this executive group. This round of funding was led by Murex Partners, with new participation from Atinum Investments, and follow-on investment from . Investment involves risk. Ming Yuan Cloud has a market share of 18.5% in terms of revenue in 2019 (Frost & Sullivan). Members of IPO Edge get the latest IPO research, news, and industry analysis. PropTech Acquisition Corp PROPTECH GROUP : Noticias, novedades e informacin accin PROPTECH GROUP | PTG | AU0000117814 | Australian Stock Exchange Cantor Fitzgerald is a proven capital markets investment banking, real estate investment management, debt origination, and private equity firm. 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. 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. According to its 2020 Interim Report, 81 of Top 100 property developers in China are its customers in respect of ERP solutions for the six months ended June 30, 2020 and 95 of Top 100 property developers in China are its customers in respect of SaaS products for the six months ended June 30, 2020. 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. Corporation consummated its initial public offering of 17,250,000 units, including 250 million company whose stock mentioned... Difficult to determine billion in gross proceeds of $ 250 million my proprietary research, news and..., INC. NVIDIA CORPORATION of one share of 18.5 % in terms of revenue 2019! 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