PropTech Investment Corporation II (PTICU) Prices Upsized $200M IPO


PropTech Investment Corporation II (PTICU) Prices Upsized $200M IPO

PropTech Investment Corporation II announced the pricing of its $200 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “PTICU” tomorrow, Friday, December 4.

The new company aims to combine with a high-growth target valued above $500 million that provides technological innovation to the real estate industry. PropTech Investment is led by Chairman, Co-CEO and President Thomas D. Hennessy alongside Co-CEO, CFO and Director M. Joseph Beck.

Total SPAC deal count for 2020 year-to-date is now 209 with $72.1 billion in gross proceeds raised. This offering is expected to close on Tuesday, December 8.

Cantor Fitzgerald & Co. is acting as the sole book running manager for the offering. Northland Capital Markets is acting as lead manager. Ellenoff Grossman & Schole LLP is serving as Issuer’s Counsel with Graubard Miller serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.