PropTech Investment Corporation II
PTIC
NASDAQ Capital Market10.73
USD
+0.79
- -
PropTech Investment Corporation II
PTIC
(NASDAQ Capital Market)
Recent
price
10.73
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Similar Companies
- Business
- PropTech Investment Corporation II (PTIC) operates as a special purpose acquisition company focused on effecting mergers, capital stock exchanges, asset acquisitions, stock purchases, reorganizations, or similar business combinations with one or more businesses in the PropTech or real estate industries; it provides no significant independent operations or products beyond pursuing and executing such transactions. Founded in 2020 and headquartered in Wilson, Wyoming, the company raised $230 million through its initial public offering on December 4, 2020, underwritten by Cantor Fitzgerald and Northland Capital Markets, with 100% of IPO proceeds placed in trust; it targeted global PropTech opportunities, emphasizing technology-driven real estate solutions. In its major strategic development, PTIC completed a definitive business combination with RW National Holdings, LLC (d/b/a Appreciate), a leading end-to-end single family rental marketplace and management platform including Renters Warehouse, on November 29, 2022, following shareholder approval and a definitive agreement announced on May 17, 2022; the post-merger entity was renamed Appreciate Holdings, Inc., trading on Nasdaq under tickers SFR and SFRWW from November 30, 2022, with an estimated enterprise value of $416 million assuming no redemptions, supported by up to $159 million in net cash from PTIC's trust and a $100 million committed equity facility from CF Principal Investments LLC, an affiliate of Cantor Fitzgerald; existing Appreciate stakeholders rolled 96% to 100% of their equity into the combined company. The transaction facilitated Appreciate's public listing and growth in the fragmented U.S. single family rental market, estimated at over $145 billion, serving retail and institutional investors through proprietary online marketplaces, full-service brokerage in over 40 markets, resident placement, property management, analytics, and reporting; no subsequent major changes, partnerships, funding rounds, or operational shifts for PTIC are reported post-merger, with the SPAC now inactive as a standalone entity.
Bronstein, Gewirtz & Grossman, LLC Notifies Shareholders of Appreciate Holdings, Inc. (SFR; SFRWW) Investigation