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). 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 . Investment involves risk. 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 preliminary prospectus for the offering filed with the Securities and Exchange Commission (SEC). PropTech Acquisition Corp. (PTACU), announced the pricing of their $150 million SPAC IPO this evening. 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. In 2018, another $4 billion was invested in real estate technology companies. 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). Founder shares are 20% of the total shares and consist of Class B shares. The SPAC sponsor also purchased 440,000 units at $10.00 per unit in a private placement. Please disable your ad-blocker and refresh. 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. 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. 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). PropTech's units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. The information referenced or contained herein may change, be in error, become outdated and irrelevant, or removed at any time without notice. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). - 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. 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. 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. These symbols will be available throughout the site during your session. However, the team does not have prior SPAC experience, so has not demonstrated a track record of attractive returns via a SPAC vehicle. Explore our recent updates here! S&P Global - Proptech startup Housi prepares for IPO in Brazil Contxto: https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/proptech-startup-housi-prepares-for-ipo-in-brazil-8211-contxto-60225854. Were a global Venture Capital organisation investing in the ideas that are shaping the. This is European PropTechs largest full-equity VC round to date, rivalled only by debt financing, IPO, and post-IPO activity in the sector. Other than SPACs, PropTech startup Housi, is reported to be preparing for an IPO on the Brazilian stock exchange. Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. 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. 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. Join now to get an insider's 'edge' on new issues coming to market, both before and after the IPO. 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. 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. 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. It was the first software-based Chinese PropTech firm to debut on the Hong Kong Stock Exchange this year. 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. AMAZON.COM, INC. APPLE INC. TESLA, INC. META PLATFORMS, INC. NVIDIA CORPORATION. PropTech Institute 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. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Is this happening to you frequently? 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. 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. Disclosure: Nobody on theIPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. 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. The SPAC may issue additional stock/units to effect a contemplated merger. 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. PropTech Acquisition Corp. (PTACU), announced the pricing of their $150 million SPAC IPO this evening. 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. 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. 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. 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. On February 23, 2023, the company notified Sagaliam that since the SPAC did not receive subscription agreement commitments before December 15, 2022, it has chosen to terminate the merger. PropTech Acquisition Corp 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. The SPAC seeks to merge with a real estate or Proptech firm in Asia, with primary operations ex-China. Type a symbol or company name. 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. 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. BOA Acquisitionintends to focus on businesses that provide technological solutions and innovation to the broader real estate industry, which management also refers to as "PropTech." Separately, Paycor HCM, which offers a software-as-a-service human capital management platform . Retail investors are really just 'along for the ride,' with little influence on the ultimate outcome of a proposed merger. 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. Also, in 2021, the real estate services firm estimated there were more than 6,000 Proptech or other real estate technology-related businesses worldwide. 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. This year, they closed their $100 million Series C round. Ex-Freddie Mac CEO Charles Haldeman and other top housing executives launched an IPO to raise some $258.8 million for 1Sharpe Acquisition Corp. (Nasdaq:UNOOU), a SPAC focused on 'PropTech.' 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. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. The SCOOP ratings should not be taken as investment advice. 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 contains statements that constitute forward-looking statements, including with respect to the initial public offering and the anticipated use of the net proceeds. The case in point worth citing here is Plentific, a portfolio company from our second fund. The SPAC . Citi and Wells Fargo Securities are the joint bookrunners on the deal. Shelter Acquisitionwas founded in 2020 and plans to list on the Nasdaq under the symbol SHQAU. The Companys units are listed on the Nasdaq Capital Market (Nasdaq) and commenced trading under the ticker symbol PTACU on November 22, 2019. It has been a pleasure to work closely with Jonny Britton and the amazing LandTech team since our seed round investment back in 2015. Blockchain Moon is a blank check company with no business operations and only a small Jacksonville office. The SPAC is interesting because it is pursuing a merger in the real estate/proptech industries, with a likely focus on Asia ex-China. Pi Labs is proud to have invested follow-on capital during this round. Renaissance Capital->. Management of ACAX doesn't have operating experience in the industry or previous SPAC experience, so my opinion on the SPAC is Neutral. 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. At the same time, it digitised scattered offline data to bring the entire process of housing transactions online, which transforms not only the transaction process but also the post-transaction phase, such as mortgage and title clearance. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. 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. Terms of Use. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Total SPAC deal count for 2019 year-to-date is now 54 with $12.38 billion in gross proceeds raised. 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. Ming Yuan Cloud was listed on the Hong Kong Stock Exchange in September 2020. In order to help you master the concept of PropTech, well be posting high-quality and value-adding content on a regular basis. The Quogue, NY-based company plans to raise $200 million by offering 20 million units at $10. Last week the Pi Labs team had the privilege of attending the UKs first face-to-face CRETech event since the pandemic. The SPAC sponsor also purchased 685,000 units at $10.00 per unit in a private placement. Get them exclusively at IPO Edge. PropTech - which stands for property technology - may be an unfamiliar term for some. If it does, then the Class B shares would be increased to retain the sponsor's 20% equity ownership position. It also speaks directly to the CRETech panel discussion. 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. Alset has 2 executives leading its sponsor, Alset Acquisition Sponsor, LLC. Get IPO Edge with actionable research on next-generation high growth stocks. 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. Type a symbol or company name. SINGAPORE, March 01, 2023--PropertyGuru Group Limited (NYSE: PGRU) ("PropertyGuru" or the "Company"), Southeast Asia's leading1 property technology ("PropTech") company, today announced . 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. To market, both before and after the IPO Cloud provides proptech acquisition corp ipo ERP solutions SaaS!, then the Class B shares would be increased to retain the 's! Merge with a real estate services firm estimated there were more than proptech..., is reported to be preparing for an IPO on the deal SPAC sponsor also purchased 685,000 units at 11.50! Spacs, proptech startup Housi prepares for IPO in Brazil Contxto: https //www1.hkexnews.hk/listedco/listconews/sehk/2020/0929/2020092900364.pdf. Because it is pursuing a merger in the real estate value chain in China is,. 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