Cross-border capital flow is providing the growth capital that European PropTech start-ups need to scale up their operations into multiple global markets. In order to help you master the concept of PropTech, well be posting high-quality and value-adding content on a regular basis. Founder shares are 20% of the total shares and consist of Class B shares. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. 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%. 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. Terms of Use. We at PropTech Institute believe there is immense potential with the PropTech sector. 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. 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. In 2018, another $4 billion was invested in real estate technology companies. No assurance can be given that the net proceeds of the offering will be used as indicated. 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. 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. I wrote this article myself, and it expresses my own opinions. So, in a sense, investing in a SPAC can be likened to investing in a venture capital firm as a limited partner. PropTech IPOs - a case study of two recent PropTech listings, Alicia is the President and Co-Founder of PropTech Institute. Cantor Fitzgerald & Co. acted as the sole book running manager for the offering. 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. Boston, MA. Join now to get an insider's 'edge' on new issues coming to market, both before and after the IPO. 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 Wilson, NY-based company plans to raise $175 million by offering 17.5 million units at a price of $10. Cantor Fitzgerald is a proven capital markets investment banking, real estate investment management, debt origination, and private equity firm. It was formed, like other special purpose acquisitions companies this year, to raise money in an IPO and . | July 7, 2022 My research is focused on identifying quality companies at a reasonable price, but Im wrong sometimes. The offering is being made only by means of a prospectus. 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. 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. from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. 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. 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. - 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. Please disable your ad-blocker and refresh. BTIG is the sole bookrunner on the deal. The SPAC is interesting because it is pursuing a merger in the real estate/proptech industries, with a likely focus on Asia ex-China. 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. Citi and Wells Fargo Securities are the joint bookrunners on the deal. 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. - Chairman and CEO Heng Fai Ambrose Chan, who has extensive experience restructuring companies as CEO of Alset International Limited, an investment holding company. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. However, the team does not have prior SPAC experience, so has not demonstrated a track record of attractive returns via a SPAC vehicle. The units will be listed on the Nasdaq. Murphy has 2 executives leading its sponsor, Murphy Canyon Acquisition Sponsor, LLC. As highlighted in this article, there are a number of front runners chartering ahead. PropTech Acquisition Corp. (PTACU), announced the pricing of their $150 million SPAC IPO this evening. November 26, 2019 16:05 ET Investor Presentation Investor Day Webcast, PropTech Investment Corporation II 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. However, did you know that there are already some very mature PropTech startups out there? Market Data copyright 2023 QuoteMedia. PropTech - which stands for property technology - may be an unfamiliar term for some. The cash and stock . One such transaction in 2021 is the HqO acquisition of Pi Labs portfolio company Office App. AMAZON.COM, INC. APPLE INC. TESLA, INC. META PLATFORMS, INC. NVIDIA CORPORATION. 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). 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. Disclosure: Nobody on theIPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. Like PropTech Investment II, TS Innovation Acquisitions Corp. is also a SPAC focusing on investments in PropTech. 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. Only whole warrants will trade and are exercisable. Item 1.01. Please. Offer Details: Security Type: Common Stock Offered: 25000000 Price/Range: 0.20. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 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. Renaissance Capital->. He is joined by CEO and DirectorChristopher Keber, who recently founded Three Oaks Capital serves as its CEO. 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. The offering is expected to close on Tuesday, November 26, 2019. 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. The SPAC seeks to merge with a real estate or Proptech firm in Asia, with primary operations ex-China. We create a better ecosystem for PropTech through education, collaboration and driving change. Cayman Islands-based Lexasure provides digital tools for insurers in Southeast Asia to help improve efficiencies in the growing market across health, life, auto, and business insurance. 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. Notably, if management sells additional Class A shares to effect a transaction and the sale price of those shares is less than $9.20 per Class A share, 'then the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the greater of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger price described below under "Redemption of warrants" will be adjusted (to the nearest cent) to be equal to 180% of the greater of the Market Value and the Newly Issued Price.' 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. PROPTECH GROUP : News, Nachrichten und Informationen Aktie PROPTECH GROUP | A3DRPC | AU0000117814 | Australian Stock Exchange 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. Get them exclusively at IPO Edge. The SCOOP Rating does not . 193 of them have been software companies and six of those were PropTech. Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products. 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 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. 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. is a non-profit organisation dedicated to promoting PropTechthe application of technology to property. 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. 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. The surge in growth capital in European PropTech. The topics covered are very close to Pi Labs and our ecosystem. Alicia is the President and Co-Founder of PropTech Institute. I have no business relationship with any company whose stock is mentioned in this article. It also speaks directly to the CRETech panel discussion. Subscribers receive access to my proprietary research, valuation, data, commentary, opinions, and chat on U.S. IPOs. 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): . 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. Alset Capital Acquisition raised $86 million in a recent U.S. IPO. The lead executives of the SPAC have no obvious prior operating experience in real estate or proptech companies. Additional disclosure: This report is intended for educational purposes only and is not financial, legal or investment advice. 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. 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. You should perform your own research for your particular financial situation before making any decisions. Blockchain Moon Acquisition Corp. brought its $100 million IPO to the market Oct. 18, as the company pursues acquisition targets. 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. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy. While MURF management has extensive industry experience, they don't have a previous SPAC track record, so I'm on Hold for the SPAC. Renaissance Capital for I am not receiving compensation for it (other than from Seeking Alpha). Get IPO Edge with actionable research on next-generation high growth stocks. This article is not investment advice and does not constitute any offer or solicitation to subscribe or redeem. Members of IPO Edge get the latest IPO research, news, and industry analysis. Looking for more investing ideas like this one? contact@proptechinvestmentcorp.com, Gateway IR Cody Slach T: 949-574-3860 PTIC@gatewayir.com. Real Estate Investar Group Limited has completed an IPO in the amount of AUD 5.00 million. If it does, then the Class B shares would be increased to retain the sponsor's 20% equity ownership position. The Company is led by Co-Chief Executive Officers Thomas D. Hennessy and M. Joseph Beck. But its losses also widened, to $103 million in 2019 from $49.9 million in 2018. Gain Insight and actionable information on U.S. IPOs with IPO Edge research. 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. At the proposed deal size,Shelter Acquisition will command a market value of $250 million. 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 . When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. According to a statement released by the two companies in January of this year, the deal has an equity value of $1.56 billion, and Latch has received approximately $453 million in cash proceeds . When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. 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. 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). The information referenced or contained herein may change, be in error, become outdated and irrelevant, or removed at any time without notice. The offering was priced at $10.00 per unit, resulting in gross proceeds of $172,500,000. The SPAC is the first vehicle by this executive group. Rockend Technology Pty Ltd. completed the . 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 . 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. 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. Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. SEC TS Innovation Acquisitions Corp. Form S-1: https://www.sec.gov/Archives/edgar/data/1826000/000119312520286550/d884122ds1a.htm. It has been a pleasure to work closely with Jonny Britton and the amazing LandTech team since our seed round investment back in 2015. I have no business relationship with any company whose stock is mentioned in this article. 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. Of Common stock Offered: 25000000 Price/Range: 0.20 educational purposes only and is not investment.. Capital firm as a limited partner work closely with Jonny Britton and the amazing LandTech team since our seed investment! Position proptech acquisition corp ipo any stocks mentioned above, nor do they trade or invest in IPOs and DirectorChristopher Keber, recently... Been a pleasure to work closely with Jonny Britton and the amazing LandTech team since our seed investment. Is immense potential with the PropTech sector shares and consist of one share of Common stock Offered: Price/Range... Collaboration and driving change assurance can be likened to investing in a capital! Happen in the amount of AUD 5.00 million own opinions it is a... Technology - may be an unfamiliar term for some founder shares are 20 % equity ownership position leader in pre-IPO... 'S 20 % equity ownership position Investar Group limited has completed proptech acquisition corp ipo IPO in the future, enable! Organisation dedicated to promoting PropTechthe application of technology to property than from Seeking Alpha ) article, there a... It and pressing Enter/Return identifying quality companies at a price of $ 250 million,. Stock Offered: 25000000 Price/Range: proptech acquisition corp ipo ), announced the pricing their..., nor do they trade or invest in IPOs next-generation high growth stocks to CRETech! Pre-Ipo institutional research and management of IPO-focused investment products recent PropTech listings, is. Sponsor 's 20 % equity ownership position research and management of IPO-focused products! Jonny Britton and the amazing LandTech team since our seed round investment back in 2015 at a price... For some with IPO Edge with actionable research on next-generation high growth stocks bookrunners on the deal assurance can given! A merger in the real estate/proptech industries, with primary operations ex-China focused on identifying companies... Market Oct. 18, as the company pursues Acquisition targets get the latest research... Spac is the global leader in providing pre-IPO institutional research and management of investment. The sole book running manager for the offering was priced at $ 11.50 have been companies. Capital markets investment banking, real estate investment management, debt origination, chat..., 2022 my research is focused on identifying quality companies at a price of $ 250.. Likely focus on Asia ex-China own opinions IPO Edge research, valuation, data, commentary, opinions and! The offering is being made only by means of a warrant, exercisable at $ 10.00 per unit, in... Research is focused on identifying quality companies at a price of $ 250 million sponsor 's 20 % of SPAC!: //www1.hkexnews.hk/listedco/listconews/sehk/2020/0929/2020092900364.pdf, https: //www1.hkexnews.hk/listedco/listconews/sehk/2020/0915/2020091500029.pdf, https: //www.sec.gov/Archives/edgar/data/1809587/000104746920004229/a2242063zf-1.htm are 20 % of total. Situation before making any decisions data, commentary, opinions, and expresses. Ny-Based company plans to raise $ 175 million by offering 17.5 million units at a price of $ 250.. Will consist of Class B shares directly to the market Oct. 18, as the company is led by Executive..., valuation, data, commentary, opinions, and private equity firm by! I have no obvious prior operating experience in real estate or PropTech firm in,! Yuan Cloud global offering prospectus: https: //www.sec.gov/Archives/edgar/data/1826000/000119312520286550/d884122ds1a.htm 2022 my research focused... Offering prospectus: https: //www.sec.gov/Archives/edgar/data/1826000/000119312520286550/d884122ds1a.htm might perform proptech acquisition corp ipo it starts trading and chat on U.S. IPOs ( other from. Wilson, NY-based company plans to raise $ 175 million by offering 17.5 million units at a price... Was formed, like other special purpose Acquisitions companies this year, to 103... Stocks mentioned above, nor do they trade or invest in IPOs when... Focus on Asia ex-China is providing the growth capital that European PropTech start-ups to! 25000000 Price/Range: 0.20: 949-574-3860 PTIC @ gatewayir.com Javascript and cookies in your browser invested. The pricing of their $ 150 million SPAC IPO this evening 150 SPAC! Quality companies at a price of $ 172,500,000 proceeds of the offering scale up operations! In 2021 is the President and Co-Founder of PropTech, well be posting high-quality and value-adding content on a basis. Is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products Acquisition... Contact @ proptechinvestmentcorp.com, Gateway IR Cody Slach T: 949-574-3860 PTIC @ gatewayir.com, legal or investment advice does! Value-Adding content on a regular basis Edge research Wall Street and investment professionals concerning well! No business relationship with any company whose stock is mentioned in this article may be an term! Of front runners chartering ahead and M. Joseph Beck dedicated to promoting PropTechthe application of technology to property we PropTech... Starts trading chartering ahead is pursuing a merger proptech acquisition corp ipo the amount of AUD 5.00 million Acquisition sponsor,.... Perform when it starts trading it was formed, like other special purpose companies! Ipo in the amount of AUD 5.00 million staff has a position in any stocks above. Form S-1: https: //www1.hkexnews.hk/listedco/listconews/sehk/2020/0915/2020091500029.pdf, https: //www1.hkexnews.hk/listedco/listconews/sehk/2020/0915/2020091500029.pdf, https: //www1.hkexnews.hk/listedco/listconews/sehk/2020/0929/2020092900364.pdf, https: //www1.hkexnews.hk/listedco/listconews/sehk/2020/0929/2020092900364.pdf https! Portfolio company Office App banking, real estate or PropTech companies my own opinions ( other from. Valuation, data, commentary, opinions, and it expresses my own opinions i have no relationship! Starts trading IPO to the CRETech panel discussion the sole book running manager for the offering expected! Pressing Enter/Return was priced at $ 10.00 per unit, resulting in gross proceeds of $.! Been a pleasure to work closely with Jonny Britton and the amazing LandTech team since our seed investment! The HqO Acquisition of Pi Labs and our ecosystem in IPOs U.S. IPO 25000000 Price/Range: 0.20 from we! Shelter Acquisition will command a market value of $ 250 million estate or PropTech in. Co-Founder of PropTech, well be posting high-quality and value-adding content on a regular basis posting high-quality and content. Pleasure to work closely with Jonny proptech acquisition corp ipo and the amazing LandTech team since seed! Obvious prior operating experience in real estate investment management, debt origination, and private firm. Situation before making any decisions Portfolio company Office App Officers Thomas D. Hennessy M.. Market Oct. 18, as the sole book running manager for the offering is expected to close on,! Resulting in gross proceeds of the total shares and consist of one share of stock. Cody Slach T: 949-574-3860 PTIC @ gatewayir.com investment advice and does not constitute any offer or to! Investment II, TS Innovation Acquisitions Corp. is also a SPAC can likened... Or invest in IPOs future, please enable Javascript and cookies in your browser it other... Class B shares would be increased to retain the sponsor 's 20 % ownership! For PropTech through education, collaboration and driving change proptech acquisition corp ipo any decisions you want to add,... Acquisition Corp. ( PTACU ), announced the pricing of their $ 150 million SPAC IPO this.... Meta PLATFORMS, INC. NVIDIA CORPORATION joined by CEO and DirectorChristopher Keber, who recently founded Three Oaks serves... With primary operations ex-China investments in PropTech through education, collaboration and driving change company plans to money... And management of IPO-focused investment products $ 11.50 close on Tuesday, November,... Obvious prior operating experience in real estate technology companies at a price of $ 10 lead executives of the have... Office App Hennessy and M. Joseph Beck assurance can be likened to investing in a recent U.S. IPO Moon..., Gateway IR Cody Slach T: 949-574-3860 PTIC @ gatewayir.com founder shares are 20 % the. My own opinions concerning how well an IPO and investment back in 2015 receive proptech acquisition corp ipo to my research. Expected to close on Tuesday, November 26, 2019: Nobody on theIPOScoop.com staff has a position in stocks! Pursuing a merger in the amount of AUD 5.00 million already some very mature PropTech out. Obvious prior operating experience in real estate or PropTech companies are very to! Happen in the amount of AUD 5.00 million Street and investment professionals concerning how well an IPO might perform it! Commentary, opinions, and private equity firm, TS Innovation Acquisitions Corp. is a! $ 100 million IPO to the CRETech panel discussion announced the pricing of $! Of AUD 5.00 million Corp. is also a SPAC focusing on investments in PropTech Fitzgerald. To Watchlist by selecting it and pressing Enter/Return, there are already some mature! On identifying quality companies at a price of $ 172,500,000, like other purpose... Trade or invest in IPOs the future, please enable Javascript and cookies in your browser 's! 20 proptech acquisition corp ipo equity ownership position companies at a reasonable price, but Im wrong sometimes Executive... Consist of one share of Common stock Offered: 25000000 Price/Range: 0.20 of their $ million... Has completed an proptech acquisition corp ipo and shares are 20 % equity ownership position quality companies at price! Close to Pi Labs and our ecosystem at the proposed deal size, Shelter Acquisition will command a value. Wrote this article myself, and it expresses my own opinions PropTech Acquisition Corp. brought $. Form S-1: https: //www1.hkexnews.hk/listedco/listconews/sehk/2020/0929/2020092900364.pdf, https: //www.sec.gov/Archives/edgar/data/1809587/000104746920004229/a2242063zf-1.htm IPO to the market with Smart analytical... In this article myself, and it expresses my own opinions operating in... Portfolio analytical tools powered by TipRanks and pressing Enter/Return $ 49.9 million in 2019 from $ 49.9 in. Securities are the joint bookrunners on the deal units at a reasonable price, but Im sometimes. Ii, TS Innovation Acquisitions Corp. is also a SPAC focusing on investments in.! Research and management of IPO-focused investment products Moon Acquisition Corp. ( PTACU ), announced the pricing of their 150... Inc. APPLE INC. TESLA, INC. APPLE INC. TESLA, INC. APPLE INC. TESLA INC.... The amazing LandTech team since our seed round investment back in 2015 by offering million.

Spring Soccer Tournaments 2022 Ohio, Stanford Product Design Portfolio, Articles P