And, with a capital tailwind behind them, this is the time for European start-ups to think big and be bold. 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. 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. You should perform your own research for your particular financial situation before making any decisions. Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums), is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. Pi Labs is proud to have invested follow-on capital during this round. 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. Members of IPO Edge get the latest IPO research, news, and industry analysis. 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. 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. Appreciate commenced trading on the Nasdaq Stock Market under the ticker symbols SFR and SFRWW on November 30, 2022. 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. Additional disclosure: This report is intended for educational purposes only and is not financial, legal or investment advice. The article Proptech-focused SPAC Shelter Acquisition files for a $200 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. 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. BOA Acquisition was founded in 2020 and plans to list on the NYSE under the symbol BOASU. Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products. Murphy has 2 executives leading its sponsor, Murphy Canyon Acquisition Sponsor, LLC. Members of IPO Edge get the latest IPO research, news, and industry analysis. 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. To illustrate this, lets do a quick back-of-envelope projection on Plentific based on recent valuations. Alicia is the President and Co-Founder of PropTech Institute. Currently, Alicia is the Senior Legal Counsel at a real estate private equity fund focusing on Greater China investments. I'm the founder of IPO Edge on Seeking Alpha, a research service for investors interested in IPOs on US markets. Explore our recent updates here! The Company is led by Co-Chief Executive Officers Thomas D. Hennessy and M. Joseph Beck. The Wilson, NY-based company plans to raise $175 million by offering 17.5 million units at a price of $10. I wrote this article myself, and it expresses my own opinions. Join now to get an insider's 'edge' on new issues coming to market, both before and after the IPO. M&A activity has been another hot topic in PropTech this year. It was formed, like other special purpose acquisitions companies this year, to raise money in an IPO and . SPAC investing is subject to potential volatility and risk of loss. It was great to catch up with some familiar faces, spending time with our existing founders, as well as meeting some of the new founders weve recently backed in person for the first time. 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 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. 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. SCMP - Tencent-backed real estate platform Beike aims to raise US$2 billion in New York IPO even as US tightens noose around WeChat: https://www.scmp.com/business/companies/article/3096604/tencent-backed-real-estate-platform-beike-aims-raise-us2-billion. Across the globe, PropTech startups and investors are sprinting ahead for growth. 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. 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. However, the team does not have prior SPAC experience, so has not demonstrated a track record of attractive returns via a SPAC vehicle. SEC TS Innovation Acquisitions Corp. Form S-1: https://www.sec.gov/Archives/edgar/data/1826000/000119312520286550/d884122ds1a.htm. Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. Shelter Acquisitionintends to concentrate on identifying businesses that provide technologically innovative solutions to the real estate industry, broadly defined as proptech. The lead executives of the SPAC have no obvious prior operating experience in real estate or proptech companies. 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.' 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. My research is focused on identifying quality companies at a reasonable price, but Im wrong sometimes. 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). The offering is being made only by means of a prospectus. The units will be listed on the Nasdaq. According to Pitchbook data, there have been 511 Series D rounds globally so far in 2021. Entry into a Material Definitive Agreement. 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. Offer Details: Security Type: Common Stock Offered: 25000000 Price/Range: 0.20. 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. The surge in growth capital in European PropTech. It also speaks directly to the CRETech panel discussion. Citi and Wells Fargo Securities are the joint bookrunners on the deal. 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. The. Written by Terms of Use. 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. Fintech and proptech SPAC Modiv Acquisition withdraws $100 million IPO January 12, 2022 MACSU Modiv Acquisition, a blank check company formed by Modiv targeting fintech and proptech businesses, withdrew its plans for an initial public offering on Wednesday. In any event, while management may find an interesting merger target, the chances of success are difficult to determine. Only whole warrants are exercisable and will trade. 3415 N. Pines Way Suite 204 Wilson, WY 83014 I have no business relationship with any company whose stock is mentioned in this article. 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. | January 4, 2023 PROPTECH GROUP: attualit, news e informazioni azione PROPTECH GROUP | PTG | AU0000117814 | Australian Stock Exchange 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. RT=Real-Time, EOD=End of Day, PD=Previous Day. PropTech Acquisition Corporation is a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase,. According to a 2018 market research report by Forbes, the global market for Proptech companies in 2017 was estimated at $12 billion. from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. 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. Type a symbol or company name. Renaissance Capital->. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Subscribers receive access to my proprietary research, valuation, data, commentary, opinions, and chat on U.S. IPOs. Being Europes earliest investor in PropTech, our portfolio companies have experienced various forms of capital raising and M&A events over the past 6 years. 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. Investment involves risk. 20/02 Real Estate & Construction News Round-Up (02/15/23) - Proptech Solutions, Supply .. 10/02 Australian . 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. 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. 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. PropTech Acquisition Corp 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. Also, unlike a venture capital fund, a SPAC is liquid, providing public investors with an added liquidity benefit should they need to sell. | July 7, 2022 PropTech Acquisition Corporation (NASDAQ: PTAC) announced today that it priced its initial public offering of 15,000,000 units at $10.00 per unit. Acquisitions, IPOs, and the evolution of PropTech | by Faisal Butt | Pi Labs Insights | Medium 500 Apologies, but something went wrong on our end. Additional disclosure: This report is intended for educational purposes only and is not financial, legal or investment advice. Stay tuned and watch this space! I wrote this article myself, and it expresses my own opinions. PropTech Investment Corporation II and Appreciate Announce Closing of Business Combination, PropTech Investment Corporation II Stockholders Approve Business Combination with Appreciate, PropTech Investment Corporation II Announces Filing and Mailing of Definitive Proxy Statement and Special Meeting Date in Connection with Proposed Business Combination with Appreciate. I'm the founder of IPO Edge on Seeking Alpha, a research service for investors interested in IPOs on US markets. PropTech Investment II, a SPAC, has filed with the SEC in September 2020 to raise up to US$175 million in an IPO. Recent valuations Labs is proud to have invested follow-on capital during this round acquisitions companies year... Citi and Wells Fargo Securities are the joint bookrunners on the NYSE under ticker... Other special purpose acquisitions companies this year, to raise money in an IPO might perform when it trading... Canyon Acquisition sponsor, LLC concerning how well an IPO and after IPO. 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