The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. This story involves the dominant US-based workplace experience platform acquiring the dominant Europe-based platform to create a truly intercontinental product. We at PropTech Institute believe there is immense potential with the PropTech sector. I'm the founder of IPO Edge on Seeking Alpha, a research service for investors interested in IPOs on US markets. SCMP - Chinas Ming Yuan Cloud joins a flurry of companies seeking to raise funds in Hong Kong this month: https://www.scmp.com/business/companies/article/3101468/chinas-ming-yuan-cloud-joins-flurry-companies-seeking-raise, SEC KE Holdings Inc. Form F-1: https://www.sec.gov/Archives/edgar/data/1809587/000104746920004229/a2242063zf-1.htm. The SPAC has 15 months to complete a merger (initial business combination). 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. Offer Details: Security Type: Common Stock Offered: 25000000 Price/Range: 0.20. Mr. Hennessy will be joined by M. Joseph Beck, as Co-ChiefExecutive Officer, Chief Financial Officer and Director. 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. 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. M&A activity has been another hot topic in PropTech this year. 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. | July 7, 2022 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. 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. Also, in 2021, the real estate services firm estimated there were more than 6,000 Proptech or other real estate technology-related businesses worldwide. Investing in SPACs can be a volatile and opaque endeavor. I have no business relationship with any company whose stock is mentioned in this article. PropTech Acquisition Corp. (PTACU), announced the pricing of their $150 million SPAC IPO this evening. I have no business relationship with any company whose stock is mentioned in this article. The case in point worth citing here is Plentific, a portfolio company from our second fund. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. It also allowed our team to meet with potential future portfolio company founders, as well as others in the wider world of PropTech. 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). PropTech is not as nascent as some may think. If it does, then the Class B shares would be increased to retain the sponsor's 20% equity ownership position. 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. Copies are available on the SECs website,www.sec.gov. 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). 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. According to a 2018 market research report in Forbes, the global market for Proptech companies in 2017 was estimated at $12 billion. Subscribers receive access to my proprietary research, valuation, data, commentary, opinions, and chat on U.S. IPOs. One such transaction in 2021 is the HqO acquisition of Pi Labs portfolio company Office App. The Washington, DC-based company plans to raise $175 million by offering 17.5 million units at $10. Is this happening to you frequently? 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. Across the globe, PropTech startups and investors are sprinting ahead for growth. Blockchain Moon Acquisition Corp. brought its $100 million IPO to the market Oct. 18, as the company pursues acquisition targets. However, did you know that there are already some very mature PropTech startups out there? Cantor Fitzgerald & Co. acted as the sole book running manager for the offering. The SPAC has 18 months to complete a merger (initial business combination). Renaissance Capital->. This round of funding was led by Murex Partners, with new participation from Atinum Investments, and follow-on investment from . PropTech IPOs - a case study of two recent PropTech listings, Alicia is the President and Co-Founder of PropTech Institute. The SPAC is another recent SPAC targeting the real estate Proptech market for a merger combination. - 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. The offering is expected to close on Tuesday, November 26, 2019. Murphy has 2 executives leading its sponsor, Murphy Canyon Acquisition Sponsor, LLC. More recently, TS Innovation Acquisitions Corp., closed a US$300 million IPO in November 2020. The . Other than Ming Yuan Cloud and KE Holdings, another interesting development is in SPAC (Special Purpose Acquisition Companies) listings. 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 and CEO Heng Fai Ambrose Chan, who has extensive experience restructuring companies as CEO of Alset International Limited, an investment holding company. The SPAC may issue additional stock/units to effect a contemplated merger. 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. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. 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. BOA Acquisition was founded in 2020 and plans to list on the NYSE under the symbol BOASU. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission on November 21, 2019. To illustrate this, lets do a quick back-of-envelope projection on Plentific based on recent valuations. The Company is led by Co-Chief Executive Officers Thomas D. Hennessy and M. Joseph Beck. Ming Yuan Cloud was listed on the Hong Kong Stock Exchange in September 2020. Investors plowed more than $83 billion into blank-check companies last year and 11 days into 2021, they've invested $7.2 billion . Currently, Alicia is the Senior Legal Counsel at a real estate private equity fund focusing on Greater China investments. Create your Watchlist to save your favorite quotes on Nasdaq.com. 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 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 has 2 executives leading its sponsor, Alset Acquisition Sponsor, LLC. Only whole warrants are exercisable and will trade. Murphy Canyon Acquisition Corp. went public recently, raising $132 million in an IPO. 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. 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. He is joined by CEO and DirectorChristopher Keber, who recently founded Three Oaks Capital serves as its CEO. A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission on November 21, 2019. Renaissance Capital for Get IPO Edge with actionable research on next-generation high growth stocks. Join now to get an insider's 'edge' on new issues coming to market, both before and after the IPO. The Wilson, NY-based company plans to raise $175 million by offering 17.5 million units at a price of $10. 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. Sagaliam (NASDAQ:SAGA) announced this afternoon that Arabian Entertainment Company (AEC) intends toterminate their proposed merger, just a few months after their deal announcement. Please. Create your Watchlist to save your favorite quotes on Nasdaq.com. According to Pitchbook data, there have been 511 Series D rounds globally so far in 2021. Type a symbol or company name. In order to help you master the concept of PropTech, well be posting high-quality and value-adding content on a regular basis. You should perform your own research for your particular financial situation before making any decisions. Cantor Fitzgerald & Co. is acting as the sole book running manager for the offering. Refresh the page, check Medium 's site status,. These symbols will be available throughout the site during your session. 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. I have no business relationship with any company whose stock is mentioned in this article. In any event, while management may find an interesting merger target, the chances of success are difficult to determine. Like PropTech Investment II, TS Innovation Acquisitions Corp. is also a SPAC focusing on investments in PropTech. Rockend Technology Pty Ltd. completed the . RT=Real-Time, EOD=End of Day, PD=Previous Day. 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 2018, another $4 billion was invested in real estate technology companies. 20/02 Real Estate & Construction News Round-Up (02/15/23) - Proptech Solutions, Supply .. 10/02 Australian . It was the first software-based Chinese PropTech firm to debut on the Hong Kong Stock Exchange this year. According to data compiled by Bloomberg, at c.US$2 billion, it was the largest IPO of a Chinese firm in the US for more than two years. Founder & CEO of Pi Labs | VC Investor | Entrepreneur | Property + Technology | Investor in Hubble, Trussle, LandTech, 90 North Group & more. 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 Acquisition Corp Leadership of the SPAC has extensive real estate industry and REIT experience, so that aspect is a definite plus for the SPAC's potential deal flow and ability to execute a merger combination. This is European PropTechs largest full-equity VC round to date, rivalled only by debt financing, IPO, and post-IPO activity in the sector. NEW YORK, Nov. 21, 2019 (GLOBE NEWSWIRE) -- PropTech Acquisition Corporation (the "Company") announced today that it priced its initial public offering of 15,000,000 units at $10.00 per. 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. The lead executives of the SPAC have no obvious prior operating experience in real estate or proptech companies. Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. 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. According to its 2020 Interim Report, 81 of Top 100 property developers in China are its customers in respect of ERP solutions for the six months ended June 30, 2020 and 95 of Top 100 property developers in China are its customers in respect of SaaS products for the six months ended June 30, 2020. I am not receiving compensation for it (other than from Seeking Alpha). PropTech Investment Corporation II Completes Business Combination with Appreciate Press Release PropTech Investment Corporation II 3415 N. Pines Way Suite 204 Wilson, WY 83014 T: 310-954-9665 contact@proptechinvestmentcorp.com Gateway IR Cody Slach T: 949-574-3860 Founder shares are 20% of the total shares and consist of Class B shares. Management of ACAX doesn't have operating experience in the industry or previous SPAC experience, so my opinion on the SPAC is Neutral. 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. As a result, over the past two to three years, many promising PropTech companies have gone public to raise capital through . 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. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Each unit will consist of one share of common stock and one-half of a warrant, exercisable at $11.50. I am not receiving compensation for it (other than from Seeking Alpha). | Source: Renaissance Capital for 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. PropTech Investment II, a SPAC, has filed with the SEC in September 2020 to raise up to US$175 million in an IPO. You should perform your own research for your particular financial situation before making any decisions. 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. 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. 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 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. 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. 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. So, in a sense, investing in a SPAC can be likened to investing in a venture capital firm as a limited partner. The SPAC . If you have an ad-blocker enabled you may be blocked from proceeding. I am not receiving compensation for it (other than from Seeking Alpha). PropTech Acquisition Corporation (NASDAQ: PTAC) announced today that it priced its initial public offering of 15,000,000 units at $10.00 per unit. PropTech's units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. The SPAC seeks to merge with a company in the real estate Proptech industry. 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. Other than SPACs, PropTech startup Housi, is reported to be preparing for an IPO on the Brazilian stock exchange. NEW YORK-- ( BUSINESS WIRE )--Crown PropTech Acquisitions (the "Company") announced today that it priced its upsized initial public offering of 24,000,000 units at $10.00 per unit. Alicia is the President and Co-Founder of PropTech Institute. No assurance can be given that the net proceeds of the offering will be used as indicated. These symbols will be available throughout the site during your session. contact@proptechinvestmentcorp.com, Gateway IR Cody Slach T: 949-574-3860 PTIC@gatewayir.com. Shelter Acquisitionintends to concentrate on identifying businesses that provide technologically innovative solutions to the real estate industry, broadly defined as proptech. Any company whose stock is mentioned in this article myself, and it my! Institute believe there is immense potential with the PropTech sector than SPACs, PropTech startup,... Is another recent SPAC targeting the real estate PropTech industry to list on Brazilian... 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Joined by CEO and DirectorChristopher Keber, who recently founded Three Oaks Capital serves as its CEO manager the! Your favorite quotes on Nasdaq.com - PropTech Solutions, Supply.. 10/02 Australian Prospectus::... Boa proptech acquisition corp ipo was founded in 2020 and plans to list on the SPAC is another recent targeting! Corp. ( PTACU ), announced the pricing of their $ 150 million SPAC IPO this evening SPAC ( Purpose... Murphy has 2 executives leading proptech acquisition corp ipo sponsor, LLC: 0.20 $ 150 million SPAC IPO this evening involves! Of their $ 150 million SPAC IPO this evening PropTech IPOs - a case study of two PropTech., opinions, and chat on U.S. IPOs believe there is immense potential with the PropTech sector Chinese firm! Raise Capital through merger combination, add it to Watchlist by selecting and! 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