PropTech Acquisition Corp. (PTACU), announced the pricing of their $150 million SPAC IPO this evening. PropTech’s units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU.
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-Chief Executive Officer and President. Mr. Hennessy will be joined by M. Joseph Beck, as Co-Chief Executive Officer, Chief Financial Officer and Director.
Total SPAC deal count for 2019 year-to-date is now 54 with $12.38 billion in gross proceeds raised. The offering is expected to close on Tuesday, November 26, 2019.
Congratulations to all.
Cantor Fitzgerald & Co. Inc., acted as sole book-running manager for the offering. Ellenoff Grossman & Schole LLP and Graubard Miller, were Issuer’s Counsel and Underwriter’s Counsel, respectively.
Forest Road II (NYSE:FRXB) and 10X Capital Venture III (NYSE:VCXB) both announced this afternoon that they have mutually terminated their business combinations. Forest Road II intended to combine with transportation technology developer HyperloopTT, but the parties decided to nix the deal due to timing constraints along with unfavorable market conditions. Tom Staggs and Kevin Mayer, Co-CEOs and...
Intelligent Medicine Acquisition Corp. (NASDAQ:IQMD) and AMCI Acquisition Corp. II (Nasdaq: AMCI) announced this afternoon that they have adjourned their special meetings with shareholders. Intelligent Medicine originally scheduled its meeting to be held today, but is now postponing its vote until Wednesday, February 8. Stockholders may elect to redeem their shares by no later than...
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Viveon Health (NYSE:VHAQ) announced this morning that it is unilaterally terminating its combination with Suneva Medical “based upon material breaches” of the merger agreement. The SPAC did not elaborate further on its claims against Suneva, but noted it will continue on and seek a new business combination. Just last week, Viveon Health was working to...
FAST II (NYSE:FZT) announced this morning that it has amended its combination with resort operator Falcon’s Beyond, shifting more value from both sides into earn-outs. The deal’s $1 billion enterprise value technically remains, but Falcon’s Beyond shareholders will receive less equity at close. The valuation is now made up of a $620 million enterprise value...