SPAC PropTech Acquisition (PTAC) to Combine with Porch.com
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PropTech Acquisition Corporation to Combine with Porch.com, Bringing a Leading Vertical Software and Services Platform for the Home to the Public Market
July 31, 2020 5:46 AM EDT- Transaction to Publicly List Porch, a High-Growth Home Services Platform Providing Integrated Software to Home Inspectors and Moving Companies in Exchange for Unique Early Access to High-Value Homebuyers -
- Estimated Post-Transaction Enterprise Value of $523 Million with up to an Additional $205 Million in Net Cash1 to Fund Growth -
- Transaction Includes a $150 Million Fully Committed Common Stock Private Investment at $10 Per Share Led by Wellington Management Company, LLP -
- Porch Management, Employees and Existing Shareholders Will Roll 92% of Their Existing Equity Holdings into... More
