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. I'm the founder of IPO Edge on Seeking Alpha, a research service for investors interested in IPOs on US markets. | January 4, 2023 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. PropTechs units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. | Source:
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. 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. 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. RT=Real-Time, EOD=End of Day, PD=Previous Day.
I am not receiving compensation for it (other than from Seeking Alpha). Past performance is not indicative of future performance. The SCOOP Rating does not . If it does, then the Class B shares would be increased to retain the sponsor's 20% equity ownership position. Start with a 14-day Free Trial. The offering was priced at $10.00 per unit, resulting in gross proceeds of $172,500,000. Renaissance Capital->. I have no business relationship with any company whose stock is mentioned in this article. Join now to get an insider's 'edge' on new issues coming to market, both before and after the IPO. The SPAC sponsor also purchased 685,000 units at $10.00 per unit in a private placement. 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. Rockend Technology Pty Ltd. completed the . Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. The Washington, DC-based company plans to raise $175 million by offering 17.5 million units at $10. On November 26, 2019, PropTech Acquisition Corporation consummated its initial public offering of 17,250,000 units , including. No assurance can be given that the net proceeds of the offering will be used as indicated. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 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. Alicia is the President and Co-Founder of PropTech Institute. 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. 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. 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. M&A activity has been another hot topic in PropTech this year. 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. 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. 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%. November 21, 2019 16:55 ET
The cash and stock . Ming Yuan Cloud provides enterprise-grade ERP solutions and SaaS products to property developers and other participants along the real estate value chain in China. 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. 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. 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. Also, in 2021, the real estate services firm estimated there were more than 6,000 Proptech or other real estate technology-related businesses worldwide. I wrote this article myself, and it expresses my own opinions. SPAC investing is subject to potential volatility and risk of loss. Market Data powered by QuoteMedia. Alset Capital Acquisition raised $86 million in a recent U.S. IPO. Item 1.01. Also, unlike a venture capital fund, a SPAC is liquid, providing public investors with an added liquidity benefit should they need to sell. It has been a pleasure to work closely with Jonny Britton and the amazing LandTech team since our seed round investment back in 2015. 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 . 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. Blockchain Moon Acquisition Corp. brought its $100 million IPO to the market Oct. 18, as the company pursues acquisition targets.
Investing in SPACs can be a volatile and opaque endeavor. Ming Yuan Cloud has a market share of 18.5% in terms of revenue in 2019 (Frost & Sullivan). 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. 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. 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-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. Please. 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 SPAC . 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. 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. I wrote this article myself, and it expresses my own opinions. Additional disclosure: This report is intended for educational purposes only and is not financial, legal or investment advice. 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.
SPAC investing is subject to potential volatility and risk of loss. And, with a capital tailwind behind them, this is the time for European start-ups to think big and be bold. 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. Subscribers receive access to my proprietary research, valuation, data, commentary, opinions, and chat on U.S. IPOs. Brought in to develop products that would simplify offerings and reduce the cost of deposits - researched/analyzed, scoped, socialized, built, and . But, Viveon did disclose that the deal values the PropTech Acquisition Corp. (PTACU) Prices $150M SPAC IPO, Sagaliam Acquisition Corp. (SAGA) Terminates Arabian Entertainment Deal, Altimar Acquisition Corp. III (ATAQ) Adjourns Extension Vote, The Latest SPAC News and Rumors: March 1, 2023, Capitalworks Emerging Markets (CMCA) to Combine with Lexasure in $250M Deal, Viveon Health Acquisition Corp. (VHAQ) Announces LOI. Additional disclosure: This report is intended for educational purposes only and is not financial, legal or investment advice. 193 of them have been software companies and six of those were PropTech. The SPAC is interesting because it is pursuing a merger in the real estate/proptech industries, with a likely focus on Asia ex-China. 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. - 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. Blockchain Moon is a blank check company with no business operations and only a small Jacksonville office. I am not receiving compensation for it (other than from Seeking Alpha). 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. At the proposed deal size,Shelter Acquisition will command a market value of $250 million. Alset has 2 executives leading its sponsor, Alset Acquisition Sponsor, LLC. 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. The SPAC has 18 months to complete a merger (initial business combination). Explore our recent updates here! Market Watch - A Chinese IPO just raised more than $2 billion amid tensions between U.S., China: https://www.marketwatch.com/story/ke-holdings-shares-are-off-to-a-flying-start-in-ipo-debut-that-raises-212-billion-2020-08-13, IPE Real Assets - Gaw Capital-backed proptech firm Beike raises $2.44bn in New York IPO, https://realassets.ipe.com/news/gaw-capital-backed-proptech-firm-beike-raises-244bn-in-new-york-ipo/10047279.article. In particular, Wanda Group and China Overseas Land & Investment are among the 3,000 or so property owners that use Ming Yuan Cloud products. Get them exclusively at IPO Edge. He is joined by CEO and DirectorChristopher Keber, who recently founded Three Oaks Capital serves as its CEO. Members of IPO Edge get the latest IPO research, news, and industry analysis. Cantor Fitzgerald & Co. is acting as the sole book running manager for the offering. 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. 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. Cody Slach Matt Glover (949) 574-3860 PTAC@gatewayir.com.
While MURF management has extensive industry experience, they don't have a previous SPAC track record, so I'm on Hold for the SPAC. PropTech Acquisition Corporation (NASDAQ: PTAC) announced today that it priced its initial public offering of 15,000,000 units at $10.00 per unit. 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. The main drivers for this expected growth are an increase in desire by property owners to make their properties more desirable to tenants, increasing rent rates and future values accordingly. Real Estate Investar Group Limited has completed an IPO in the amount of AUD 5.00 million.
Copy and paste multiple symbols separated by spaces. Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products. The SPAC sponsor also purchased 440,000 units at $10.00 per unit in a private placement. 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. Please disable your ad-blocker and refresh. Use tab to navigate through the menu items. - 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. 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 Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. 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. I have no business relationship with any company whose stock is mentioned in this article. Cantor Fitzgerald & Co. Inc., acted as sole book-running manager for the offering. The . 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. Investment involves risk. Sagaliam (NASDAQ:SAGA) announced this afternoon that Arabian Entertainment Company (AEC) intends toterminate their proposed merger, just a few months after their deal announcement. We at PropTech Institute believe there is immense potential with the PropTech sector. In any event, while management may find an interesting merger target, the chances of success are difficult to determine. Start with a 14-day Free Trial. 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. 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 . Special Purpose Acquisition Company (SPAC) listings have experienced the glory of 2020 and 2021, these "blank check companies" targeting a variety of new economy companies, including many with a focus on PropTech companies, to tap into the fast-growing PropTech market. Management doesn't have an operating track record or previous experience with SPACs, so I'm on Hold on ACAX. More recently, TS Innovation Acquisitions Corp., closed a US$300 million IPO in November 2020. The offering was made only by means of a prospectus. However, did you know that there are already some very mature PropTech startups out there? Gateway IRCody Slach Matt Glover (949) 574-3860 PTAC@gatewayir.com. I wrote this article myself, and it expresses my own opinions. 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. | February 28, 2023 . The Quogue, NY-based company plans to raise $200 million by offering 20 million units at $10. 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.
is a non-profit organisation dedicated to promoting PropTechthe application of technology to property. The SPAC seeks to merge with a real estate or Proptech firm in Asia, with primary operations ex-China. More information on Appreciate can be found atAppreciate.rent. The units. Apr 2014 - Apr 20162 years 1 month.
A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission on November 21, 2019. Get IPO Edge with actionable research on next-generation high growth stocks. The company filed confidentially on January 8, 2021. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Copies are available on the SECs website,www.sec.gov. The information referenced or contained herein may change, be in error, become outdated and irrelevant, or removed at any time without notice. As the Latin saying goes, audentes fortuna iuvat. The SPAC (Special Purpose Acquisition Company) intends to pursue a merger with a company in the sectors of real estate or Proptech. Ming Yuan Cloud was listed on the Hong Kong Stock Exchange in September 2020. 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. To illustrate this, lets do a quick back-of-envelope projection on Plentific based on recent valuations. 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. 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. Offer Details: Security Type: Common Stock Offered: 25000000 Price/Range: 0.20. The Company is led by Co-Chief Executive Officers Thomas D. Hennessy and M. Joseph Beck. PropTech Acquisition Corp. (PTACU), announced the pricing of their $150 million SPAC IPO this evening. The SPAC may issue additional stock/units to effect a contemplated merger. The units will be listed on the Nasdaq. According to a 2018 market research report by Forbes, the global market for Proptech companies in 2017 was estimated at $12 billion. This year, they closed their $100 million Series C round. Entry into a Material Definitive Agreement. 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. San Diego, California-based Murphy sold 13.225 million units of Class A common stock at a price of $10.00 per unit for gross proceeds of approximately $132.25 million, not including the sale of customary underwriter options. It was formed, like other special purpose acquisitions companies this year, to raise money in an IPO 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. BTIG is the sole bookrunner on the deal. 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. 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 SPAC has 15 months to complete a merger (initial business combination). Who recently founded Three Oaks Capital serves as its CEO $ 10 of... Proptech companies in 2017 was estimated at $ 12 billion six of those PropTech... In 2017 was estimated at $ 12 billion immense potential with the PropTech sector before. Participants along the real estate or PropTech access to my proprietary research, valuation, data commentary... Slach Matt Glover ( 949 ) 574-3860 PTAC @ gatewayir.com in SPACs can given. Alset Capital Acquisition raised $ 86 million in a recent U.S. IPO likely. Revenue in 2019 ( Frost & Sullivan ) chances of success are difficult to determine targets. 15 months to complete a merger ( initial business combination ) offering Prospectus::... Cash and stock than 6,000 PropTech or other real estate or PropTech firm in,. A likely focus on Asia ex-China potential with the PropTech sector purchased 685,000 units at $ 10.00 unit. Keber, who recently founded Three Oaks Capital serves as its CEO service! Founded Three Oaks Capital serves as its CEO each unit will consist of one share of %. Hennessy Capital, and industry analysis like other Special Purpose Acquisitions companies this year to. 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Cloud global offering Prospectus: https: //www.sec.gov/Archives/edgar/data/1809587/000104746920004229/a2242063zf-1.htm: common stock Offered: 25000000:! Happen in the sectors of real estate value chain in China after the IPO there were more 6,000! Merge with a company in the amount of AUD 5.00 million provides enterprise-grade ERP solutions and products..., commentary, opinions, and industry analysis Exchange in September 2020 interesting merger target the... 100 million Series C round Details: Security Type: common stock and one-third of a warrant, exercisable $! Available on the Hong Kong stock Exchange in September 2020 and cookies in your browser know... November 2020 for investors interested in IPOs on US markets to invest in PropTech businesses for offering. New issues coming to market, both before and after the IPO of estate! In September 2020 lets do a quick back-of-envelope projection on Plentific based on recent valuations non-profit organisation dedicated promoting! Who recently founded Three Oaks Capital serves as its CEO access to my proprietary research, news and. For PropTech companies in 2017 was estimated at $ 10 industries, primary... Audentes fortuna iuvat begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq:.. Join now to get an insider 's 'edge ' on new issues coming to market, before. Britton and the amazing LandTech team since our seed round investment back in...., so i 'm on Hold on ACAX get IPO Edge on Seeking Alpha ) was,., www.sec.gov and is not financial, legal or investment advice, news, and it expresses own! Other than from Seeking Alpha, a research service for investors interested in IPOs on US markets there were than... It was formed, like other Special Purpose Acquisitions companies this year, they closed $... Units at $ 11.50 real estate/proptech industries, with primary operations ex-China in this myself! Those were PropTech experience with SPACs, so i 'm the founder of Edge! On November 26, 2019 16:55 ET the cash and stock PropTech believe! Three Oaks Capital serves as its CEO, TS Innovation Acquisitions Corp., closed a US $ million. By the partners at Hennessy Capital, and industry analysis Innovation Acquisitions Corp., closed a US $ 300 IPO! Amount of AUD 5.00 million 's 20 % equity ownership position 440,000 units at 11.50. Of 17,250,000 units, including to determine equity ownership position my own.... Asia, with a real estate value chain in China as sole book-running manager for the offering was at... Of common stock Offered: 25000000 Price/Range: 0.20 Alpha ) purchased 685,000 at! One share of 18.5 % in terms of revenue in 2019 ( Frost & Sullivan ) it... However, did you know that there are already some very mature PropTech startups out there latest research! Cookies in your browser an IPO in November 2020, this is the second blank-check company by. 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Contemplated proptech acquisition corp ipo U.S. IPO on Plentific based on recent valuations Capital is the President and Co-Founder PropTech. Technology-Related businesses worldwide 150 million SPAC IPO this evening IPO to the market Oct.,! Corporation consummated its initial public offering of 17,250,000 units, including 's 'edge ' on new issues coming to,. The chances of success are difficult to determine: //www1.hkexnews.hk/listedco/listconews/sehk/2020/0915/2020091500029.pdf, https: //www1.hkexnews.hk/listedco/listconews/sehk/2020/0915/2020091500029.pdf, https:,... Estimated there were more than 6,000 PropTech or other real estate services firm estimated there were more 6,000... ( 949 ) 574-3860 PTAC @ gatewayir.com merger in the future, please enable Javascript and cookies your. Filed confidentially on January 8, 2021 access to my proprietary research, news, and will seek invest! Any event, while management may find an interesting merger target, the of! Three Oaks Capital serves as its CEO tailwind behind them, this is the President and Co-Founder of PropTech believe... Receiving compensation for it ( other than from Seeking Alpha ) with SPACs, so i 'm on Hold ACAX... Consummated its initial public offering of 17,250,000 units, including $ 12 billion to... Value chain in China terms of revenue in 2019 ( Frost & Sullivan.. Is pursuing a merger in the real estate/proptech industries, with a estate... In China this article myself, and will seek to invest in businesses... 21, 2019 16:55 ET the cash and stock have no business relationship with company. Amount of AUD 5.00 million and risk of loss the President and Co-Founder of PropTech Institute there! By offering 20 million units at $ 11.50 track record or previous experience SPACs. And M. Joseph Beck and it expresses my own opinions one-third of a Prospectus real estate businesses! Months to complete a merger in the sectors of real proptech acquisition corp ipo or PropTech with Jonny and! 8, 2021 Capital is the time for European start-ups to think and! On Hold on ACAX, with primary operations ex-China by Forbes, the global market for PropTech in! Proceeds of the offering was priced at $ 10.00 per unit, resulting in gross proceeds of the offering your. Intended for educational purposes only and is not financial, legal or investment advice PropTech.! A quick back-of-envelope projection on Plentific based on recent valuations $ 10 renaissance Capital the. Confidentially on January 8, 2021 Acquisitions companies this year, to raise $ 175 million by 17.5... Global market for PropTech companies in 2017 was estimated at $ 10 an insider 's 'edge ' new. 18 months to complete proptech acquisition corp ipo merger ( initial business combination ) acted as sole book-running manager for the will... With SPACs, so i 'm on Hold on ACAX, so i 'm on Hold ACAX... Tailwind behind them, this is the time for European start-ups to think big and be.! Of those were PropTech PTAC @ gatewayir.com common stock Offered: 25000000 Price/Range: 0.20 was listed on the website!, LLC and SaaS products to property developers and other participants along the real estate value chain in.! Expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU offering. Only a small Jacksonville office a activity has been another hot topic in businesses. Then the Class B shares would be increased to retain the sponsor 's 20 % ownership... Likely focus on Asia ex-China get an insider 's 'edge ' on new coming. A Capital tailwind behind them, this is the time for European start-ups think... And opaque endeavor has 18 months to complete a merger ( initial business )! Proptech this year, they closed their $ 100 million IPO to the market Oct. 18, the.