PropTech Acquisition Co.’s Quiet Period Set To End on June 24th (OTCMKTS:PTACU)

PropTech Acquisition’s (OTCMKTS:PTACU) quiet period is set to end on Wednesday, June 24th. PropTech Acquisition had issued 16,000,000 shares in its public offering on May 15th. The total size of the offering was $160,000,000 based on an initial share price of $10.00. During the company’s quiet period, underwriters and any insiders involved in the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

PropTech Acquisition Price Performance

PTACU stock opened at $10.01 on Wednesday. The business has a 50-day moving average of $13.74 and a 200-day moving average of $15.81. PropTech Acquisition has a fifty-two week low of $9.93 and a fifty-two week high of $10.03.

About PropTech Acquisition

PropTech Acquisition is a special-purpose acquisition company (SPAC) incorporated in Delaware and trading on the OTC Markets under the symbol PTACU. The company was formed to raise capital through an initial public offering with the intent to identify, acquire, and merge with one or more businesses in the property technology (“PropTech”) sector. Like many SPACs, it holds assets in a trust account pending completion of a qualifying business combination, offering investors exposure to the PropTech industry without immediate operating revenues.

The SPAC’s primary focus is on companies that leverage technology to improve real estate transactions, property management, construction processes, and other aspects of the residential and commercial property markets.