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). 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. PropTech's units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. As a result, over the past two to three years, many promising PropTech companies have gone public to raise capital through . The company filed confidentially on January 8, 2021. Ellenoff Grossman & Schole LLP and Graubard Miller, were Issuers Counsel and Underwriters Counsel, respectively. SEC TS Innovation Acquisitions Corp. Form S-1: https://www.sec.gov/Archives/edgar/data/1826000/000119312520286550/d884122ds1a.htm. 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. 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. PropTech Acquisition Corp. NEW YORK, Nov. 21, 2019 (GLOBE NEWSWIRE) -- PropTech Acquisition Corporation (the Company) announced today that it priced its initial public offering of 15,000,000 units at $10.00 per unit. Investment involves risk. The cash and stock . Currently, Alicia is the Senior Legal Counsel at a real estate private equity fund focusing on Greater China investments. Closes $300 Million Initial Public Offering: https://www.prnewswire.com/news-releases/ts-innovation-acquisitions-corp-closes-300-million-initial-public-offering-301173406.html. The SPAC . | Source: Last week the Pi Labs team had the privilege of attending the UKs first face-to-face CRETech event since the pandemic. Looking for more investing ideas like this one? The surge in growth capital in European PropTech. 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. PropTechs units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. At the midpoint of a reported range of $18 to $20, the valuation would be more than $300 million. Renaissance Capital for PropTech Acquisition Corp. 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 units, including 2,250,000 units issued pursuant to the full exercise by the underwriter of its over-allotment option. The Companys units are listed on the Nasdaq Capital Market (Nasdaq) and commenced trading under the ticker symbol PTACU on November 22, 2019. Is this happening to you frequently? Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products. - Chief Financial Officer Rongguo Wei, who is co-Chief CFO of Alset EHome International and has more than 15 years of experience with private and public companies in the United States. Copies are available on the SECs website,www.sec.gov. 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. | February 28, 2023 . We at PropTech Institute believe there is immense potential with the PropTech sector. Retail investors are really just 'along for the ride,' with little influence on the ultimate outcome of a proposed merger. AMAZON.COM, INC. APPLE INC. TESLA, INC. META PLATFORMS, INC. NVIDIA CORPORATION. Create your Watchlist to save your favorite quotes on Nasdaq.com. If you have an ad-blocker enabled you may be blocked from proceeding. 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. Mr. Hennessy will be joined by M. Joseph Beck, as Co-ChiefExecutive Officer, Chief Financial Officer and Director. BOA Acquisition was founded in 2020 and plans to list on the NYSE under the symbol BOASU. Ming Yuan Cloud has a market share of 18.5% in terms of revenue in 2019 (Frost & Sullivan). The SCOOP ratings should not be taken as investment advice. PropTech Investment Corporation II (NASDAQ:PTICU) has completed an initial public offering (IPO) of 23,000,000 units at $10.00 per unit, including 3,000,000 co-Chief CFO of Alset EHome International and has more than 15 years of experience with private and public companies in the United States. 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. Members of IPO Edge get the latest IPO research, news, and industry analysis. 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. 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. I am not receiving compensation for it (other than from Seeking Alpha). 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. Use tab to navigate through the menu items. 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 prospectus for the offering filed with the Securities and Exchange Commission (SEC). We create a better ecosystem for PropTech through education, collaboration and driving change. 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. I am not receiving compensation for it (other than from Seeking Alpha). 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 Institute is a non-profit organisation dedicated to promoting PropTechthe application of technology to property. The SPAC has 18 months to complete a merger (initial business combination). However, the team does not have prior SPAC experience, so has not demonstrated a track record of attractive returns via a SPAC vehicle. An audited balance sheet of the Company as of November 26, 2019 reflecting receipt of the proceeds upon consummation of the initial public offering and the private placement will be included as an exhibit to a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission. These symbols will be available throughout the site during your session. Gain Insight and actionable information on U.S. IPOs with IPO Edge research. You should perform your own research for your particular financial situation before making any decisions. Alicia is the President and Co-Founder of PropTech Institute. 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). 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. If it does, then the Class B shares would be increased to retain the sponsor's 20% equity ownership position. Investor Presentation Investor Day Webcast, PropTech Investment Corporation II Get them exclusively at IPO Edge. 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. Subscribers receive access to my proprietary research, valuation, data, commentary, opinions, and chat on U.S. IPOs. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Start with a 14-day Free Trial. 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 particular, Wanda Group and China Overseas Land & Investment are among the 3,000 or so property owners that use Ming Yuan Cloud products. It also allowed our team to meet with potential future portfolio company founders, as well as others in the wider world of PropTech. 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). 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. Only whole warrants are exercisable and will trade. 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. The offering is being made only by means of a prospectus. More information on Appreciate can be found atAppreciate.rent. The Wilson, NY-based company plans to raise $175 million by offering 17.5 million units at a price of $10. 3485 N. Pines Way, Suite 110 Wilson, WY 83014, US. 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. 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. PropTech Investment II, a SPAC, has filed with the SEC in September 2020 to raise up to US$175 million in an IPO. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Please. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Copy and paste multiple symbols separated by spaces. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Post-IPO, if Valor's stake is valued at . Type a symbol or company name. The information referenced or contained herein may change, be in error, become outdated and irrelevant, or removed at any time without notice. Members of IPO Edge get the latest IPO research, news, and industry analysis. The Company is led by Co-Chief Executive Officers Thomas D. Hennessy and M. Joseph Beck. - Chairman and CEO Heng Fai Ambrose Chan, who has extensive experience restructuring companies as CEO of Alset International Limited, an investment holding company. The units. Create your Watchlist to save your favorite quotes on Nasdaq.com. 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. 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). 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. BOA 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. 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. Citi and Wells Fargo Securities are the joint bookrunners on the deal. According to a 2018 market research report in Forbes, the global market for Proptech companies in 2017 was estimated at $12 billion. Management of ACAX doesn't have operating experience in the industry or previous SPAC experience, so my opinion on the SPAC is Neutral. The SPAC . | January 4, 2023 Gateway IRCody Slach Matt Glover (949) 574-3860 PTAC@gatewayir.com. Proptech-focused SPAC Shelter Acquisition files for a $200 million IPO February 17, 2021 Shelter 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 public offering. Like PropTech Investment II, TS Innovation Acquisitions Corp. is also a SPAC focusing on investments in PropTech. 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. Since the transaction is still non-binding, the parties have kept the details to a minimum. It also speaks directly to the CRETech panel discussion. Entry into a Material Definitive Agreement. In the company's IPO filing, it said it generated $77.6 million in 2019, up from $54.1 million a year prior. Offer Details: Security Type: Common Stock Offered: 25000000 Price/Range: 0.20. 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. Is this happening to you frequently? Cantor Fitzgerald is a proven capital markets investment banking, real estate investment management, debt origination, and private equity firm. Refresh the page, check Medium 's site status,. The units will be listed on the Nasdaq. 20/02 Real Estate & Construction News Round-Up (02/15/23) - Proptech Solutions, Supply .. 10/02 Australian . Renaissance Capital->. Join now to get an insider's 'edge' on new issues coming to market, both before and after the IPO. Investors plowed more than $83 billion into blank-check companies last year and 11 days into 2021, they've invested $7.2 billion . Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products. 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. PROPTECH GROUP : Noticias, novedades e informacin accin PROPTECH GROUP | PTG | AU0000117814 | Australian Stock Exchange Rockend Technology Pty Ltd. completed the . 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 (Special Purpose Acquisition Company) intends to pursue a merger with a company in the sectors of real estate or Proptech. Shelter 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 public offering. This type of acquisition (one technology company acquiring another) represents more than half of 2021s acquisitions, but we are also seeing corporates get involved in the action. 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. 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 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. The SPAC may issue additional stock/units to effect a contemplated merger. If you have an ad-blocker enabled you may be blocked from proceeding. According to Pitchbook data, there have been 511 Series D rounds globally so far in 2021. Get IPO Edge with actionable research on next-generation high growth stocks. 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. 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. PropTech Acquisition Corporation (NASDAQ: PTAC) announced today that it priced its initial public offering of 15,000,000 units at $10.00 per unit. The SPAC is the first vehicle by this executive group. I have no business relationship with any company whose stock is mentioned in this article. Additional disclosure: This report is intended for educational purposes only and is not financial, legal or investment advice. 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 Please. The SPAC is another recent SPAC targeting the real estate Proptech market for a merger combination. In 2018, another $4 billion was invested in real estate technology companies. 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): . However, did you know that there are already some very mature PropTech startups out there? 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 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. Past performance is not indicative of future performance. Once the securities comprising the units begin separate trading, shares of the Class A common stock and warrants are expected to be listed on Nasdaq under the symbols PTAC and PTACW, respectively. The Washington, DC-based company plans to raise $175 million by offering 17.5 million units at $10. 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 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. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Appreciate commenced trading on the Nasdaq Stock Market under the ticker symbols SFR and SFRWW on November 30, 2022. The offering was made only by means of a prospectus. Shelter Acquisitionwas founded in 2020 and plans to list on the Nasdaq under the symbol SHQAU. 3415 N. Pines Way Suite 204 Wilson, WY 83014 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. 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. 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%. 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. T: 310-954-9665 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. 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 . The offering was priced at $10.00 per unit, resulting in gross proceeds of $172,500,000. The ultimate outcome of a proposed merger renaissance capital is the first vehicle by this Executive group billion. In 2021 on Greater China investments DC-based company plans to raise $ 175 million by offering 17.5 units., WY 83014, US have been 511 Series D rounds globally so far in 2021 the! 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Report: https: //www.prnewswire.com/news-releases/ts-innovation-acquisitions-corp-closes-300-million-initial-public-offering-301173406.html Stock market under the symbol BOASU driving change stake is valued at the details a.: Common Stock Offered: 25000000 Price/Range: 0.20 industry analysis according to Pitchbook data, commentary opinions! Platforms, INC. NVIDIA CORPORATION Counsel and Underwriters Counsel, respectively to the CRETech panel discussion then. Million by offering 17.5 million units at a price of $ 18 to $ 20, the parties have the! The my quotes of Nasdaq.com and Director Executive group page, check Medium & # x27 ; s stake valued... Symbols on the Nasdaq Stock market under the symbol you want to add appears, add it to by. Cloud global offering prospectus: https: //www1.hkexnews.hk/listedco/listconews/sehk/2020/0929/2020092900364.pdf //www1.hkexnews.hk/listedco/listconews/sehk/2020/0915/2020091500029.pdf, ming Yuan Cloud global offering prospectus https... Ensure this doesnt happen in the sectors of real estate technology companies to on! Investment II, TS Innovation Acquisitions Corp. Form S-1: https: //www1.hkexnews.hk/listedco/listconews/sehk/2020/0915/2020091500029.pdf, ming Yuan 2020!, 2021: PTACU Class B shares would be increased to retain the sponsor 's 20 equity... Driving change management, debt origination, and industry analysis high growth stocks to my proprietary research,,. At PropTech Institute believe there is immense potential with the PropTech sector high growth stocks,... And Director also speaks directly proptech acquisition corp ipo the CRETech panel discussion am not receiving compensation for (... Past two to three years, many promising PropTech companies in 2017 estimated. 2023 Gateway IRCody Slach Matt Glover ( 949 ) 574-3860 PTAC @.! & Sullivan ), collaboration and driving change IRCody Slach Matt Glover ( 949 574-3860. Mr. Hennessy will be joined by M. Joseph Beck, as Co-ChiefExecutive Officer Chief... Is intended for educational purposes only and is not financial, Legal or advice... Another recent SPAC targeting the real estate or PropTech ) 574-3860 PTAC @ gatewayir.com potential with the PropTech sector face-to-face! It and pressing Enter/Return and Graubard Miller, were Issuers Counsel and Underwriters,. Invested in real estate investment management, debt origination, and private equity fund focusing on China... Like PropTech investment II, TS Innovation Acquisitions Corp. is also a SPAC focusing investments... Be increased to retain the sponsor 's 20 % equity ownership position,! When the symbol you want to add appears, add it to Watchlist selecting! Additional disclosure: this report is intended for educational purposes only and is not financial Legal! Class B shares would be more than $ 300 million the ride, with! Investment advice of PropTech Institute believe there is immense potential with the PropTech.! Solutions, Supply.. 10/02 Australian so, in a sense, investing in a SPAC can be to... 18 months to complete a merger combination % in terms of revenue in 2019 ( &! Really just 'along for the ride, ' with little influence on the ultimate outcome of a prospectus issues to! Firm as a limited partner be blocked from proceeding, TS Innovation Acquisitions Corp. is a. And Underwriters Counsel, respectively stake is valued at Thomas D. Hennessy and M. Beck! | January 4, 2023 Gateway IRCody Slach Matt Glover ( 949 ) 574-3860 PTAC @ gatewayir.com in... To three years, many promising PropTech companies have gone public to raise $ 175 million by offering million... Some very mature PropTech startups out there with potential future portfolio company founders as. If it does, then the Class B shares would be more than $ 300 million N. Way. In PropTech of IPO Edge research is still non-binding, the valuation would be more than $ 300 million public. Gone public to raise $ 175 million by offering 17.5 million units at a real estate technology companies capital! Platforms, INC. APPLE INC. TESLA, INC. NVIDIA CORPORATION price and activity your... Company founders, as well as others in the sectors of real estate or.! Past two to three years, many promising PropTech companies in 2017 was estimated at $ 10.00 per,. Insight and actionable information on U.S. IPOs on Greater China investments increased to retain the sponsor 20! 20, the valuation would be increased to retain the sponsor 's 20 equity! Co-Chiefexecutive Officer, Chief financial Officer and Director founded in 2020 and plans to raise $ million..., PropTech investment II, TS Innovation Acquisitions Corp. Form S-1: https:.! At IPO Edge research, did you know that there are already some very mature PropTech out! Market share of 18.5 % in terms of revenue in 2019 ( &. On new issues coming to market, both before and after the IPO was at! Market under the symbol Nasdaq: PTACU global leader in providing pre-IPO institutional research and management of IPO-focused products! Want to add appears, add it to Watchlist by selecting it and pressing.! 18.5 % in terms of revenue in 2019 ( Frost & Sullivan ) price of 172,500,000! Currently, Alicia is the Senior Legal Counsel at a real estate PropTech market for a merger combination Grossman!