PropTech Acquisition, a blank check company led by partners at Hennessy Capital targeting a real estate technology business, raised $150 million by offering 15 million units at $10, as expected.
Each unit consists of one share of common stock and one half of one warrant to purchase common stock at a price of $11.50 per share.
The company's 34-year-old co-CEOs, Thomas Hennessy and Joseph Beck, are Managing Partners of Hennessy Capital, and previously worked for the Abu Dhabi Investment Authority. Senior Advisor Daniel Hennessy, father of Thomas, has previously led four SPACs, most recently Hennessy Capital Acquisition IV (HCACU) which priced in the 1Q19.
PropTech Acquisition plans to list its units on the Nasdaq under the symbol PTACU. Cantor Fitzgerald acted as lead manager on the deal.
