To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. I have no business relationship with any company whose stock is mentioned in this article. Copies are available on the SECs website,www.sec.gov. Is this happening to you frequently? Cantor Fitzgerald & Co. is acting as the sole book running manager for the offering. Mr. Hennessy will be joined by M. Joseph Beck, as Co-ChiefExecutive Officer, Chief Financial Officer and Director. 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. Post-IPO, if Valor's stake is valued at . On November 26, 2019, PropTech Acquisition Corporation consummated its initial public offering of 17,250,000 units , including. Cantor Fitzgerald is a proven capital markets investment banking, real estate investment management, debt origination, and private equity firm. Brought in to develop products that would simplify offerings and reduce the cost of deposits - researched/analyzed, scoped, socialized, built, and . Members of IPO Edge get the latest IPO research, news, and industry analysis. PropTech Acquisition Corp 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. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be traded on Nasdaq under the symbols PTAC and PTACW, respectively. Other than Ming Yuan Cloud and KE Holdings, another interesting development is in SPAC (Special Purpose Acquisition Companies) listings. Alicia is the President and Co-Founder of PropTech Institute. In particular, it sells virtual reality tour software, increased use of which, according to the company, has helped offset a loss of revenues from other sources brought on by the coronavirus pandemic this year. While the Company may pursue an initial business combination target in any stage of its corporate evolution or in any industry or sector, it intends to focus its search on companies that provide technological innovation to the real estate industry, or PropTech. Aside from the funding amount, Plentifics latest round is also noteworthy insofar as it included cross-border capital from Canadian real estate group Brookfield, as well as institutional capital from Mubadala (a UAE sovereign wealth fund). The SPAC seeks to merge with a company in the real estate Proptech industry. Only whole warrants will trade and are exercisable. 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. Each unit will consist of one share of common stock and one-half of a warrant, exercisable at $11.50. The SPAC is the first vehicle by this executive group. Investor Presentation Investor Day Webcast, PropTech Investment Corporation II In the company's IPO filing, it said it generated $77.6 million in 2019, up from $54.1 million a year prior. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 3485 N. Pines Way, Suite 110 Wilson, WY 83014, US. 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. from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. Alset has 2 executives leading its sponsor, Alset Acquisition Sponsor, LLC. Create your Watchlist to save your favorite quotes on Nasdaq.com. 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). 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. Investment involves risk. 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. 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. Type a symbol or company name. Renaissance Capital->. These six companies have a few things in common. A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission on November 21, 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. While we may pursue an initial business combination target in any stage of its corporate evolution or in any industry or sector, we currently intend to concentrate our efforts in identifying businesses that provide technological innovation to the real estate industry, or PropTech. 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. The Wilson, NY-based company plans to raise $175 million by offering 17.5 million units at a price of $10. PropTech Investment II, a SPAC, has filed with the SEC in September 2020 to raise up to US$175 million in an IPO. 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. 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 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. S&P Global - Proptech startup Housi prepares for IPO in Brazil Contxto: https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/proptech-startup-housi-prepares-for-ipo-in-brazil-8211-contxto-60225854. I am not receiving compensation for it (other than from Seeking Alpha). PROPTECH GROUP : News, Nachrichten und Informationen Aktie PROPTECH GROUP | A3DRPC | AU0000117814 | Australian Stock Exchange Gain Insight and actionable information on U.S. IPOs with IPO Edge research. 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). It was the first software-based Chinese PropTech firm to debut on the Hong Kong Stock Exchange this year. November 21, 2019 16:55 ET Start with a 14-day Free Trial. Pi Labs is proud to have invested follow-on capital during this round. 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. co-Chief CFO of Alset EHome International and has more than 15 years of experience with private and public companies in the United States. 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. Closes $300 Million Initial Public Offering: https://www.prnewswire.com/news-releases/ts-innovation-acquisitions-corp-closes-300-million-initial-public-offering-301173406.html. 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. 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 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. Looking for more investing ideas like this one? 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. 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. No assurance can be given that the net proceeds of the offering will be used as indicated. SPAC investing is subject to potential volatility and risk of loss. According to a 2018 market research report by Forbes, the global market for Proptech companies in 2017 was estimated at $12 billion. It is headquartered in Beijing and was listed on the New York Stock Exchange in August 2020. | Source: The Company is led by Co-Chief Executive Officers Thomas D. Hennessy and M. Joseph Beck. So, in a sense, investing in a SPAC can be likened to investing in a venture capital firm as a limited partner. 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 the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. 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. Disclosure: Nobody on theIPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. 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. PropTech Acquisition Corp. (PTACU), announced the pricing of their $150 million SPAC IPO this evening. This article is not investment advice and does not constitute any offer or solicitation to subscribe or redeem. The. 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. Join now to get an insider's 'edge' on new issues coming to market, both before and after the IPO. 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. So, in a sense, investing in a SPAC can be likened to investing in a venture capital firm as a limited partner. However, the team does not have prior SPAC experience, so has not demonstrated a track record of attractive returns via a SPAC vehicle. 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).
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