Brief: Press Release - Proptech Investment Corporation II To Combine With Appreciate

Appreciate Holdings

17/05/2022 12:17

May 17 (Reuters) - PropTech Investment II Corp  PTIC.O :
    * PRESS RELEASE - PROPTECH INVESTMENT CORPORATION II TO COMBINE WITH
APPRECIATE,
BRINGING SINGLE FAMILY RENTAL MARKETPLACE & MANAGEMENT PLATFORM, RENTERS
WAREHOUSE, TO THE PUBLIC MARKETS
    * PROPTECH INVESTMENT II CORP - ESTIMATED POST-TRANSACTION ENTERPRISE VALUE
OF
$416 MILLION WITH UP TO AN ADDITIONAL $159 MILLION IN NET CASH TO FUND GROWTH
    * PROPTECH INVESTMENT II CORP - NO MINIMUM CASH CONDITION AND COMMITTED
EQUITY
FACILITY OF $100 MILLION FROM CF PRINCIPAL INVESTMENTS LLC
    * PROPTECH INVESTMENT II CORP - UPON CLOSING OF TRANSACTION, PROPTECH II
WILL BE
RENAMED APPRECIATE
    * PROPTECH INVESTMENT II CORP - APPRECIATE MANAGEMENT, EXISTING EQUITY
HOLDERS
WILL ROLL 96% TO 100% OF THEIR EXISTING EQUITY INTO EQUITY OF COMBINED CO
    * PROPTECH INVESTMENT II CORP- UPON CLOSING OF DEAL, PROPTECH II WILL BE
RENAMED
APPRECIATE, WILL REMAIN LISTED ON NASDAQ UNDER NEW TICKER SYMBOL "SFR."

Source text for Eikon:  ID:nGNX4GBmYD 
Further company coverage:  PTIC.O 

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