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." Refresh the page, check Medium 's site status,. Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Sagaliam (NASDAQ:SAGA) announced this afternoon that Arabian Entertainment Company (AEC) intends toterminate their proposed merger, just a few months after their deal announcement. Gateway IRCody Slach Matt Glover (949) 574-3860 PTAC@gatewayir.com. 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.' 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 Acquisition Corp As highlighted in this article, there are a number of front runners chartering ahead. NEW YORK, Nov. 26, 2019 (GLOBE NEWSWIRE) -- PropTech Acquisition Corporation (NASDAQ: PTACU) (the "Company") announced today that it closed its initial public offering of 17,250,000. 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. 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. 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. 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. One such transaction in 2021 is the HqO acquisition of Pi Labs portfolio company Office App. Please. This article is not investment advice and does not constitute any offer or solicitation to subscribe or redeem. In order to help you master the concept of PropTech, well be posting high-quality and value-adding content on a regular basis. Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products. 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. Type a symbol or company name. Members of IPO Edge get the latest IPO research, news, and industry analysis. You should perform your own research for your particular financial situation before making any decisions. 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. A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission on November 21, 2019. 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. The deal with Proptech Acquisition Corp. closed Wednesday, after shareholders approved the transaction at a special meeting held virtually on Dec. 21. . The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. 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 has 18 months to complete a merger (initial business combination). 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. The SPAC sponsor also purchased 685,000 units at $10.00 per unit in a private placement. 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. He is joined by CEO and DirectorChristopher Keber, who recently founded Three Oaks Capital serves as its CEO. Since the transaction is still non-binding, the parties have kept the details to a minimum. Murphy has 2 executives leading its sponsor, Murphy Canyon Acquisition Sponsor, LLC. 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. Copies are available on the SECs website,www.sec.gov. 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 Acquisition was founded in 2020 and plans to list on the NYSE under the symbol BOASU. Gain Insight and actionable information on U.S. IPOs with IPO Edge research. 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. The units will be listed on the Nasdaq. 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). . 3485 N. Pines Way, Suite 110 Wilson, WY 83014, US. I wrote this article myself, and it expresses my own opinions. Looking for more investing ideas like this one? NEW YORK, Nov. 26, 2019 -- PropTech Acquisition Corporation announced today that it closed its initial public offering of 17,250,000 units, including 2,250,000 units issued pursuant. Each unit will consist of one share of common stock and one-half of a warrant, exercisable at $11.50. SPAC investing is subject to potential volatility and risk of loss. In the company's IPO filing, it said it generated $77.6 million in 2019, up from $54.1 million a year prior. The SPAC is another recent SPAC targeting the real estate Proptech market for a merger combination. Aside from the funding amount, Plentifics latest round is also noteworthy insofar as it included cross-border capital from Canadian real estate group Brookfield, as well as institutional capital from Mubadala (a UAE sovereign wealth fund). However, the team does not have prior SPAC experience, so has not demonstrated a track record of attractive returns via a SPAC vehicle. 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. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. 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 . Copy and paste multiple symbols separated by spaces. 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. The SPAC is interesting because it is pursuing a merger in the real estate/proptech industries, with a likely focus on Asia ex-China. Copies are available on the SECs website,www.sec.gov. - Chairman and CEO Heng Fai Ambrose Chan, who has extensive experience restructuring companies as CEO of Alset International Limited, an investment holding company. 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 offering is being made only by means of a prospectus. PropTech Acquisition Corp. (PTACU), announced the pricing of their $150 million SPAC IPO this evening. 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. - 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. 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. I wrote this article myself, and it expresses my own opinions. Ming Yuan Cloud has a market share of 18.5% in terms of revenue in 2019 (Frost & Sullivan). SPAC investing is subject to potential volatility and risk of loss. 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