IPOs

Proptech-focused SPAC Shelter Acquisition files for a $200 million IPO

Shelter Acquisition, a blank check company targeting real estate technology or proptech, filed on Wednesday with the SEC to raise up to $200 million in an initial public offering.

The Quogue, NY-based company plans to raise $200 million by offering 20 million units at $10. Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Shelter Acquisition will command a market value of $250 million.

The company is led by CIO and Chairman Jack Chandler, who founded Majesteka Investments in 2017 and previously served as Global Head and Chairman of Real Estate at BlackRock from 2011 to 2017. He is joined by CEO and Director Christopher Keber, who recently founded Three Oaks Capital serves as its CEO. Shelter Acquisition intends to concentrate on identifying businesses that provide technologically innovative solutions to the real estate industry, broadly defined as proptech. 

Shelter Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol SHQAU. Citi and Wells Fargo Securities are the joint bookrunners on the deal.

The article Proptech-focused SPAC Shelter Acquisition files for a $200 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest IPOs Videos

    Renaissance Capital

    Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products.

    Learn More