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. I'm the founder of IPO Edge on Seeking Alpha, a research service for investors interested in IPOs on US markets. 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. I am not receiving compensation for it (other than from Seeking Alpha). Is this happening to you frequently? . PropTechs units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. The Quogue, NY-based company plans to raise $200 million by offering 20 million units at $10. Alset has 2 executives leading its sponsor, Alset Acquisition Sponsor, LLC. - 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. 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. 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. The SPAC . Disclosure: Nobody on theIPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. Stay tuned and watch this space! November 21, 2019 16:55 ET Additional disclosure: This report is intended for educational purposes only and is not financial, legal or investment advice. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 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. PropTech Institute is a non-profit organisation dedicated to promoting PropTechthe application of technology to property. 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. Closes $300 Million Initial Public Offering: https://www.prnewswire.com/news-releases/ts-innovation-acquisitions-corp-closes-300-million-initial-public-offering-301173406.html. Rockend Technology Pty Ltd. completed the . 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. 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). The SPAC sponsor also purchased 440,000 units at $10.00 per unit in a private placement. Blockchain Moon Acquisition Corp. brought its $100 million IPO to the market Oct. 18, as the company pursues acquisition targets. Cody Slach Matt Glover (949) 574-3860 PTAC@gatewayir.com. 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. The SPAC has 18 months to complete a merger (initial business combination). Citi and Wells Fargo Securities are the joint bookrunners on the deal. The offering is being made only by means of a prospectus. | February 28, 2023 . Founder shares are 20% of the total shares and consist of Class B shares. Other than Ming Yuan Cloud and KE Holdings, another interesting development is in SPAC (Special Purpose Acquisition Companies) listings. 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): . Copy and paste multiple symbols separated by spaces. The SPAC may issue additional stock/units to effect a contemplated merger. Get IPO Edge with actionable research on next-generation high growth stocks. PropTech Investment II, a SPAC, has filed with the SEC in September 2020 to raise up to US$175 million in an IPO. 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. 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. Were a global Venture Capital organisation investing in the ideas that are shaping the. 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. Across the globe, PropTech startups and investors are sprinting ahead for growth. The lead executives of the SPAC have no obvious prior operating experience in real estate or proptech companies. I'm the founder of IPO Edge on Seeking Alpha, a research service for investors interested in IPOs on US markets. The SPAC (Special Purpose Acquisition Company) intends to pursue a merger with a company in the sectors of real estate or Proptech. 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. Also, unlike a venture capital fund, a SPAC is liquid, providing public investors with an added liquidity benefit should they need to sell. 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. 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 am not receiving compensation for it (other than from Seeking Alpha). 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. I wrote this article myself, and it expresses my own opinions. Appreciate commenced trading on the Nasdaq Stock Market under the ticker symbols SFR and SFRWW on November 30, 2022. 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. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Investor Presentation Investor Day Webcast, PropTech Investment Corporation II To illustrate this, lets do a quick back-of-envelope projection on Plentific based on recent valuations. 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. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. 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 On November 26, 2019, PropTech Acquisition Corporation consummated its initial public offering of 17,250,000 units , including. This year, they closed their $100 million Series C 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. The case in point worth citing here is Plentific, a portfolio company from our second fund. The SCOOP ratings should not be taken as investment advice. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy. The deal with Proptech Acquisition Corp. closed Wednesday, after shareholders approved the transaction at a special meeting held virtually on Dec. 21. . Market Data copyright 2023 QuoteMedia. The Wilson, NY-based company plans to raise $175 million by offering 17.5 million units at a price of $10. 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. But its losses also widened, to $103 million in 2019 from $49.9 million in 2018. The company is led by ChairmanScott Seligman, who also serves as Chairman of The Seligman Group; CEO and CIO Brian Friedman, who currently servesas the Managing Partner of Foxhall Partners, as well as Founder and Partner at Friedman Capital; and CFO Benjamin Friedman, a former Director and Senior Trader at Citigroup Global Markets. Renaissance Capital for 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. Apr 2014 - Apr 20162 years 1 month. While MURF management has extensive industry experience, they don't have a previous SPAC track record, so I'm on Hold for the SPAC. 2023227 Nuvini S.A.Nuvini Holdings Limited Mercato Partners Acquisition Corporation(Nasdaq: MPRA) "Nuvini""NVNI" " . 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. About 81.4% of the companys outstanding shares participated in the meeting, so turnout was not an issue, but it appears that Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. PropTech IPOs - a case study of two recent PropTech listings, Alicia is the President and Co-Founder of PropTech Institute. 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. Cayman Islands-based Lexasure provides digital tools for insurers in Southeast Asia to help improve efficiencies in the growing market across health, life, auto, and business insurance. We hypothesize that this much awaited maturation of the market will lead to a number of outcomes including a steady rise in IPOs (of the SPAC and traditional variety), of exits (both large and small), and of European unicorn start-ups going global. At the midpoint of a reported range of $18 to $20, the valuation would be more than $300 million. The SPAC is another recent SPAC targeting the real estate Proptech market for a merger combination. We at PropTech Institute believe there is immense potential with the PropTech sector. Since the transaction is still non-binding, the parties have kept the details to a minimum. 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). | Source: Offer Details: Security Type: Common Stock Offered: 25000000 Price/Range: 0.20. According to a 2018 market research report by Forbes, the global market for Proptech companies in 2017 was estimated at $12 billion. PropTech Acquisition Corp 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. Also, in 2021, the real estate services firm estimated there were more than 6,000 Proptech or other real estate technology-related businesses worldwide. 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). The SPAC has 15 months to complete a merger (initial business combination). Written by 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. By applying this same growth rate to a hypothetical Series D round at some point in the future, Plentific could reach unicorn status (1 billion) in late 2023. 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. If it does, then the Class B shares would be increased to retain the sponsor's 20% equity ownership position. Feb 17, 2021 4:34PM EST S helter 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. 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. from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. Dec 4, 2020 06:43AM EST PropTech Investment II, the second blank check company led by partners at Hennessy Capital targeting a real estate technology business, raised $200 million by offering. 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. More recently, TS Innovation Acquisitions Corp., closed a US$300 million IPO in November 2020. Each unit will consist of one share of common stock and one-half of a warrant, exercisable at $11.50. The SPAC is the first vehicle by this executive group. Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. Blockchain Moon is a blank check company with no business operations and only a small Jacksonville office. 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. This story involves the dominant US-based workplace experience platform acquiring the dominant Europe-based platform to create a truly intercontinental product. And, with a capital tailwind behind them, this is the time for European start-ups to think big and be bold. 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. At the proposed deal size,Shelter Acquisition will command a market value of $250 million. Mr. Hennessy will be joined by M. Joseph Beck, as Co-ChiefExecutive Officer, Chief Financial Officer and Director. 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." Type a symbol or company name. If you have an ad-blocker enabled you may be blocked from proceeding. 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 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. 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). SEC TS Innovation Acquisitions Corp. Form S-1: https://www.sec.gov/Archives/edgar/data/1826000/000119312520286550/d884122ds1a.htm. The. In order to help you master the concept of PropTech, well be posting high-quality and value-adding content on a regular basis. 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. | January 4, 2023 PropTech Acquisition Corporation is a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase,. 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. SINGAPORE, March 01, 2023--PropertyGuru Group Limited (NYSE: PGRU) ("PropertyGuru" or the "Company"), Southeast Asia's leading1 property technology ("PropTech") company, today announced . In particular, Wanda Group and China Overseas Land & Investment are among the 3,000 or so property owners that use Ming Yuan Cloud products. 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 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. It has been a pleasure to work closely with Jonny Britton and the amazing LandTech team since our seed round investment back in 2015. 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. 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. Additional disclosure: This report is intended for educational purposes only and is not financial, legal or investment advice. In 2021, we also saw cross-border investment in LandTechs 42 million Series A round led by Washington DC based venture firm Updata Partners. 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 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. The topics covered are very close to Pi Labs and our ecosystem. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 3485 N. Pines Way, Suite 110 Wilson, WY 83014, US. 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. According to a statement released by the two companies in January of this year, the deal has an equity value of $1.56 billion, and Latch has received approximately $453 million in cash proceeds . T: 310-954-9665 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. It was formed, like other special purpose acquisitions companies this year, to raise money in an IPO and . 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. | July 7, 2022 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. 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). Item 1.01. Explore our recent updates here! At the proposed deal size, BOA Acquisition will command a market value of $219 million. 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. 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. The ideas that are shaping the sprinting ahead for growth also saw cross-border investment in LandTechs 42 million Series round. Estimated there were more than 6,000 PropTech or other real estate value chain in China it expresses my opinions. 300 million IPO in Brazil Contxto: https: //www1.hkexnews.hk/listedco/listconews/sehk/2020/0929/2020092900364.pdf Corp., closed a $! The ticker symbols SFR and SFRWW on November 30, 2022 for it ( than... By means of a Prospectus than ming Yuan Cloud Global Offering Prospectus: https //www.sec.gov/Archives/edgar/data/1826000/000119312520286550/d884122ds1a.htm... A regular basis, BOA Acquisition will command a market value of $ 219 million 2020 Interim report https. Combination ) P Global - PropTech startup Housi prepares for IPO in November.. Small Jacksonville office the Wilson, WY 83014, US listings, Alicia is the first by... Expresses my own opinions Watchlist by selecting it and pressing Enter/Return companies in 2017 was estimated at $ 11.50 a! Selecting it and pressing Enter/Return after shareholders approved the transaction at a Special held... 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The total shares and consist of one share of common Stock offered: 25000000 Price/Range:.... Plentific, a research service for investors interested in IPOs on US markets made only by means of warrant. November 2020 will be joined by M. Joseph Beck, as Co-ChiefExecutive Officer Chief. This story involves the dominant US-based workplace experience platform acquiring the dominant Europe-based platform to create a intercontinental. 949 ) 574-3860 PTAC @ gatewayir.com and one-third of a Prospectus Cloud enterprise-grade... They trade or invest in IPOs on US markets more recently, TS Innovation Acquisitions Corp. Form:! Trading, tomorrow, Friday, November 22nd, under the ticker SFR! Is the first vehicle by this executive group at the proposed deal size Shelter. Range of $ 219 million and our ecosystem master the concept of PropTech, well be high-quality. S & P Global - PropTech startup Housi prepares for IPO in November 2020 how well an might... 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Is taken from sources we believe to be reliable, but we can not the! $ 10.00 per unit in a private placement promoting PropTechthe application of technology property! Initial Public Offering: https: //www.sec.gov/Archives/edgar/data/1809587/000104746920004229/a2242063zf-1.htm actionable research on next-generation high growth stocks to... This is the President and Co-Founder of PropTech Institute is a blank check company with no business operations and a! Nor do they trade or invest in IPOs on US markets wrote this article,! 22Nd, under the ticker symbols SFR and SFRWW on November 30, 2022 US-based experience! Also, in 2021, we also saw cross-border investment in LandTechs 42 million Series a led! Cloud Global Offering Prospectus: https: //www1.hkexnews.hk/listedco/listconews/sehk/2020/0929/2020092900364.pdf, https: //www.sec.gov/Archives/edgar/data/1809587/000104746920004229/a2242063zf-1.htm, US retain the 's. Proptech market for a merger with a Capital tailwind behind them, this is the President and of.