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From left: Lionheart’s Ophir Sternberg, Fifth Wall’s Brendan Wallace, Chamath Palihapitiya, Supernova Partners’ Spencer Rascoff and Proptech Acquisition II’s Tom Hennessy (Getty, LinkedIn, iStock)
It’s a good time to be a startup aspiring to go public.
Investors plowed more than $83 billion into blank-check companies last year and 11 days into 2021, they’ve invested $7.2 billion more.
More than a half-dozen of those entities, also known as special-purpose acquisition companies, are targeting proptech startups. The VC firm Fifth Wall Ventures was the latest to jump into the fray, and other big firms including CBRE and SoftBank have recently hopped on the SPAC bandwagon.
VC Firm Fifth Wall Plans Property Technology-Focused SPAC The firm selected underwriters for a blank-check company that will seek out a target in the proptech sector. Bloomberg | Jan 06, 2021
(Bloomberg) Fifth Wall, a Los Angeles-based venture firm, is planning to raise capital through a special purpose acquisition company, a sign that the momentum behind a vehicle that became mainstream in 2020 has continued into the new year.
The firm, founded by Brad Greiwe and Brendan Wallace, selected underwriters for a blank-check company that’s set to seek out a target in the property-technology sector, said people with knowledge of the matter. A listing could occur as soon as the current quarter, one of the people said.
BurgerFi Goes Public Following Completion of Business Combination with OPES Acquisition Corp.
BurgerFi Goes Public Following Completion of Business Combination with OPES Acquisition Corp.
PALM BEACH, Fla., Dec. 17, 2020 OPES Acquisition Corp. (Nasdaq: OPES, OPESW) (“OPES” or the “Company”) and BurgerFi International, LLC (BurgerFi), one of the nation’s fastest-growing better burger concepts, have completed their previously announced business combination. As a result of the business combination, OPES changed its name to BurgerFi International, Inc. and its common stock will commence trading this morning on the Nasdaq Capital Market under the ticker symbol “BFI” and the warrants will trade under the ticker symbol “BFIIW.”