PropTech Acquisition Corp. (PTACU) Prices $150M SPAC IPO


PropTech Acquisition Corp. (PTACU) Prices $150M SPAC IPO

Nov 21, 2019 INTEL by Kristi Marvin

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.