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. 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. 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. 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. Join now to get an insider's 'edge' on new issues coming to market, both before and after the IPO. I wrote this article myself, and it expresses my own opinions. Ming Yuan Cloud was listed on the Hong Kong Stock Exchange in September 2020. I am not receiving compensation for it (other than from Seeking Alpha). Although all of them are based in the US, we can expect to see a number of late-stage European rounds in the next couple of years. The units. These symbols will be available throughout the site during your session. 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. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. However, the team does not have prior SPAC experience, so has not demonstrated a track record of attractive returns via a SPAC vehicle. 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). In particular, Wanda Group and China Overseas Land & Investment are among the 3,000 or so property owners that use Ming Yuan Cloud products. Intercontinental Exchange, the owner of the New York Stock Exchange, has agreed to acquire mortgage data firm Black Knight for $13.1 billion, the companies announced Wednesday. 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). SPAC investing is subject to potential volatility and risk of loss. This story involves the dominant US-based workplace experience platform acquiring the dominant Europe-based platform to create a truly intercontinental product. 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. You should perform your own research for your particular financial situation before making any decisions. Founder shares are 20% of the total shares and consist of Class B shares. I wrote this article myself, and it expresses my own opinions. | July 7, 2022 | February 28, 2023 . This type of acquisition (one technology company acquiring another) represents more than half of 2021s acquisitions, but we are also seeing corporates get involved in the action. 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. Shelter Acquisitionwas founded in 2020 and plans to list on the Nasdaq under the symbol SHQAU. If it does, then the Class B shares would be increased to retain the sponsor's 20% equity ownership position. We create a better ecosystem for PropTech through education, collaboration and driving change. 193 of them have been software companies and six of those were PropTech. SEC TS Innovation Acquisitions Corp. Form S-1: https://www.sec.gov/Archives/edgar/data/1826000/000119312520286550/d884122ds1a.htm. Alset Capital Acquisition raised $86 million in a recent U.S. IPO. Get IPO Edge with actionable research on next-generation high growth stocks. 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. contact@proptechinvestmentcorp.com, Gateway IR Cody Slach T: 949-574-3860 PTIC@gatewayir.com. Members of IPO Edge get the latest IPO research, news, and industry analysis. 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. Ming Yuan Cloud has a market share of 18.5% in terms of revenue in 2019 (Frost & Sullivan). November 21, 2019 16:55 ET PropTech's units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. Last week the Pi Labs team had the privilege of attending the UKs first face-to-face CRETech event since the pandemic. I wrote this article myself, and it expresses my own opinions. The SPAC . 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 SPAC has 15 months to complete a merger (initial business combination). 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). 20/02 Real Estate & Construction News Round-Up (02/15/23) - Proptech Solutions, Supply .. 10/02 Australian . I have no business relationship with any company whose stock is mentioned in this article. Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. 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 . It has been a pleasure to work closely with Jonny Britton and the amazing LandTech team since our seed round investment back in 2015. Ellenoff Grossman & Schole LLP and Graubard Miller, were Issuers Counsel and Underwriters Counsel, respectively. I'm the founder of IPO Edge on Seeking Alpha, a research service for investors interested in IPOs on US markets. Murphy has 2 executives leading its sponsor, Murphy Canyon Acquisition Sponsor, LLC. Gateway IRCody Slach Matt Glover (949) 574-3860 PTAC@gatewayir.com. I have no business relationship with any company whose stock is mentioned in this article. The SPAC may issue additional stock/units to effect a contemplated merger. The SPAC is interesting because it is pursuing a merger in the real estate/proptech industries, with a likely focus on Asia ex-China. 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. 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. 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. Other than Ming Yuan Cloud and KE Holdings, another interesting development is in SPAC (Special Purpose Acquisition Companies) listings. The SPAC . 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. 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. 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. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. According to a 2018 market research report by Forbes, the global market for Proptech companies in 2017 was estimated at $12 billion. 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 am not receiving compensation for it (other than from Seeking Alpha). 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. Investing in SPACs can be a volatile and opaque endeavor. Cantor Fitzgerald & Co. Inc., acted as sole book-running manager for the offering. 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. Also, in 2021, the real estate services firm estimated there were more than 6,000 Proptech or other real estate technology-related businesses worldwide. | Source: 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. 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. Please. Cody Slach Matt Glover (949) 574-3860 PTAC@gatewayir.com. So, in a sense, investing in a SPAC can be likened to investing in a venture capital firm as a limited partner. Post-IPO, if Valor's stake is valued at . PropTech Acquisition Corp. (PTACU), announced the pricing of their $150 million SPAC IPO this evening. 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. Get them exclusively at IPO Edge. 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. 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. 22/02 Rockend Technology Pty Ltd. completed the acquisition of PropTech Group Limited. While MURF management has extensive industry experience, they don't have a previous SPAC track record, so I'm on Hold for the SPAC. 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 . 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. 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. 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. Copies are available on the SECs website,www.sec.gov. Written by PropTech is not as nascent as some may think. The offering is being made only by means of a prospectus. As the Latin saying goes, audentes fortuna iuvat. 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. Only whole warrants are exercisable and will trade. 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. The offering is expected to close on Tuesday, November 26, 2019. The SPAC seeks to merge with a real estate or Proptech firm in Asia, with primary operations ex-China. And, with a capital tailwind behind them, this is the time for European start-ups to think big and be bold. Northland Securities, Inc. acted as co-manager for the offering. PropTech Acquisition Corporation (NASDAQ: PTAC) announced today that it priced its initial public offering of 15,000,000 units at $10.00 per unit. 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. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. It is headquartered in Beijing and was listed on the New York Stock Exchange in August 2020. 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. Transaction Overview Capitalworks has Viveon Health Acquisition Corp.(NYSE American: VHAQ)announced that it has signed a letter of intent (LOI) to combine with a platform focusing on cognitive care for the elderly and those withspecial needs. SINGAPORE, March 01, 2023--PropertyGuru Group Limited (NYSE: PGRU) ("PropertyGuru" or the "Company"), Southeast Asia's leading1 property technology ("PropTech") company, today announced . Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products. 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. These symbols will be available throughout the site during your session. 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. A 2018 market research report by Forbes, the global market for PropTech through education, collaboration and driving.! Real estate/proptech industries, with a likely focus on Asia ex-China SPAC IPO this evening by... 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