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Javascript is disabled in your web browser. For full functionality of this site it is necessary to enable JavaScript. Please Allow Javascript and reload this page. SPAC slowdown, SmartRent strikes a $2.2B deal Plus, “Smart store” startup targets apartment living National / SPAC deals are drying up amid mounting questions from regulators. After a record 109 SPAC deals in March, there have been just 10 this month, according to SPAC Research. Proptech is no exception, with 15 new SPACs in February followed by 16 in March and just one so far in April, according to TRD’sSPAC tracker. (Fifth Wall Ventures is aiming to raise $250 million for its third SPAC.) ....
Inman Connect Smart home technology company SmartRent.com Inc. announced on Thursday its intentions to go public via a merger with special-purpose acquisition company (SPAC) Fifth Wall Acquisition Corp. The merger values SmartRent, whose products service approximately 185,000 apartments in the U.S. and Canada, at $2.2 billion. In February, Fifth Wall Acquisition Corp. raised about $345 million in its initial public offering (IPO), which was sponsored by venture-capital firm Fifth Wall Ventures. The firm had also invested in SmartRent back in 2020 through one of its funds. Earlier this week, Fifth Wall Ventures also announced the debut of its third SPAC, Fifth Wall Acquisition III. ....
Fifth Wall Ventures, an investment company that focuses on real estate technology, has launched a new special purpose acquisition company, which is a type of firm that is designed to merge with another corporation that wants to go public. The new company is called Fifth Wall Acquisition III, and as its name suggests, is the third special purpose acquisition company, also known as a SPAC or blank check company, that Fifth Wall has launched. The first was announced in January and went public in February. Fifth Wall announced its second SPAC in March. According to new documents Fifth Wall filed with the U.S. Securities and Exchange Commission, this latest SPAC will issue 25 million shares and sell them for $10 a piece. The goal is to raise $250 million. ....