The offering was priced at $10.00 per unit, resulting in gross proceeds of $172,500,000. Shelter Acquisitionwas founded in 2020 and plans to list on the Nasdaq under the symbol SHQAU. No assurance can be given that the net proceeds of the offering will be used as indicated. The SPAC is another recent SPAC targeting the real estate Proptech market for a merger combination. 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. PropTech Investment II, a SPAC, has filed with the SEC in September 2020 to raise up to US$175 million in an IPO. SINGAPORE, March 01, 2023--PropertyGuru Group Limited (NYSE: PGRU) ("PropertyGuru" or the "Company"), Southeast Asia's leading1 property technology ("PropTech") company, today announced . AMAZON.COM, INC. APPLE INC. TESLA, INC. META PLATFORMS, INC. NVIDIA CORPORATION. PropTech IPOs - a case study of two recent PropTech listings, Alicia is the President and Co-Founder of PropTech Institute. RT=Real-Time, EOD=End of Day, PD=Previous Day. More information on Appreciate can be found atAppreciate.rent. | Source: The information referenced or contained herein may change, be in error, become outdated and irrelevant, or removed at any time without notice. Rockend Technology Pty Ltd. completed the . I have no business relationship with any company whose stock is mentioned in this article. 2023227 Nuvini S.A.Nuvini Holdings Limited Mercato Partners Acquisition Corporation(Nasdaq: MPRA) "Nuvini""NVNI" " . 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. Get IPO Edge with actionable research on next-generation high growth stocks. In the company's IPO filing, it said it generated $77.6 million in 2019, up from $54.1 million a year prior. More recently, TS Innovation Acquisitions Corp., closed a US$300 million IPO in November 2020. | July 7, 2022 Join now to get an insider's 'edge' on new issues coming to market, both before and after the IPO. Start with a 14-day Free Trial. 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, as Chairman of the Board, Co-ChiefExecutive Officer and President. Investing in SPACs can be a volatile and opaque endeavor. 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. 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. I wrote this article myself, and it expresses my own opinions. 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%. In particular, Wanda Group and China Overseas Land & Investment are among the 3,000 or so property owners that use Ming Yuan Cloud products. This year, they closed their $100 million Series C round. My research is focused on identifying quality companies at a reasonable price, but Im wrong sometimes. Other than SPACs, PropTech startup Housi, is reported to be preparing for an IPO on the Brazilian stock exchange. 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. Please disable your ad-blocker and refresh. 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. Use tab to navigate through the menu items. The SPAC may issue additional stock/units to effect a contemplated merger. PropTech Institute is a non-profit organisation dedicated to promoting PropTechthe application of technology to property. Acquisitions, IPOs, and the evolution of PropTech | by Faisal Butt | Pi Labs Insights | Medium 500 Apologies, but something went wrong on our end. 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 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. 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. PropTech Acquisition Corp. (PTACU), announced the pricing of their $150 million SPAC IPO this evening. Murphy Canyon Acquisition Corp. went public recently, raising $132 million in an IPO. The SCOOP Rating does not . I have no business relationship with any company whose stock is mentioned in this article. The SPAC has 18 months to complete a merger (initial business combination). 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. from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. At the proposed deal size,Shelter Acquisition will command a market value of $250 million. 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. 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). 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 units will be listed on the Nasdaq. The IPOScoop.com staff does not issue advice, recommendations or opinions. 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." Gateway IRCody Slach Matt Glover (949) 574-3860 PTAC@gatewayir.com. BTIG is the sole bookrunner on the deal. Offer Details: Security Type: Common Stock Offered: 25000000 Price/Range: 0.20. I'm the founder of IPO Edge on Seeking Alpha, a research service for investors interested in IPOs on US markets. . Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. It was the first software-based Chinese PropTech firm to debut on the Hong Kong Stock Exchange this year. 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). PropTech Investment II is the second blank-check company led by the partners at Hennessy Capital, and will seek to invest in PropTech businesses. 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): . The SCOOP ratings should not be taken as investment advice. MICROSOFT CORPORATION. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.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 BOA Acquisition files for a $175 million IPO, Renaissance International ETF (symbol: IPOS), Do Not Sell My Personal Information (CA Residents Only). Founder shares are 20% of the total shares and consist of Class B shares. 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. Stay tuned and watch this space! SEC TS Innovation Acquisitions Corp. Form S-1: https://www.sec.gov/Archives/edgar/data/1826000/000119312520286550/d884122ds1a.htm. He is joined by CEO and DirectorChristopher Keber, who recently founded Three Oaks Capital serves as its CEO. 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. November 21, 2019 16:55 ET This is European PropTechs largest full-equity VC round to date, rivalled only by debt financing, IPO, and post-IPO activity in the sector. The case in point worth citing here is Plentific, a portfolio company from our second fund. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). It also allowed our team to meet with potential future portfolio company founders, as well as others in the wider world of PropTech. 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. 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. Since the transaction is still non-binding, the parties have kept the details to a minimum. Feb 4, 2021 5:30PM EST. The IPO also provided for one-half of one (and 1/10th of one right) warrant per share, exercisable at $11.50 per share on the later of: (i) the completion of an initial business combination and (ii) one (1) year from the date of the prospectus, and expiring 5 years after completion of the initial business combination or earlier upon redemption or liquidation. Apart from her involvement at PropTech Institute, Alicia is also a corporate lawyer and was involved in a number of notable transactions in the real estate sector including the US$103bn merger and restructuring of Cheung Kong Holdings (HKSE: 00001) and Hutchison Whampoa Limited (one of the largest ever Hong Kong public M&A transactions) and the HK$21.5 billion privatisation of New World China Land by New World Development (HKSE: 00017). 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. The Washington, DC-based company plans to raise $175 million by offering 17.5 million units at $10. Type a symbol or company name. Explore our recent updates here! PropTech's units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. contact@proptechinvestmentcorp.com, Gateway IR Cody Slach T: 949-574-3860 PTIC@gatewayir.com. Also, they have no prior SPAC experience, so their lack of a successful track record in these regards is notable. This article is not investment advice and does not constitute any offer or solicitation to subscribe or redeem. 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. 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. Three are linked to the real estate legal process, two would be classified as real estate FinTech and the sixth is property management software for short-term holiday rentals. Closes $300 Million Initial Public Offering: https://www.prnewswire.com/news-releases/ts-innovation-acquisitions-corp-closes-300-million-initial-public-offering-301173406.html. 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. 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