proptech acquisition corp ipo

More recently, TS Innovation Acquisitions Corp., closed a US$300 million IPO in November 2020. Members of IPO Edge get the latest IPO research, news, and industry analysis. from the closing of an initial business combination and expiring five years after completion of the initial business combination or earlier upon redemption or liquidation. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Companys registration statement and prospectus for the offering filed with the Securities and Exchange Commission (SEC). BTIG is the sole bookrunner on the deal. Each unit consists of one share of the Companys Class A common stock and one-half of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Copy and paste multiple symbols separated by spaces. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. | Source: To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Northland Securities, Inc. acted as co-manager for the offering. While we may pursue an initial business combination target in any stage of its corporate evolution or in any industry or sector, we currently intend to concentrate our efforts in identifying businesses that provide technological innovation to the real estate industry, or PropTech. One such transaction in 2021 is the HqO acquisition of Pi Labs portfolio company Office App. 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. Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products. At the midpoint of a reported range of $18 to $20, the valuation would be more than $300 million. The company filed confidentially on January 8, 2021. Create your Watchlist to save your favorite quotes on Nasdaq.com. Only whole warrants will trade and are exercisable. On February 23, 2023, the company notified Sagaliam that since the SPAC did not receive subscription agreement commitments before December 15, 2022, it has chosen to terminate the merger. PropTech Investment II, a SPAC, has filed with the SEC in September 2020 to raise up to US$175 million in an IPO. Apr 2014 - Apr 20162 years 1 month. The SPAC (Special Purpose Acquisition Company) intends to pursue a merger with a company in the sectors of real estate or Proptech. The . Proptech-focused SPAC Shelter Acquisition files for a $200 million IPO February 17, 2021 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. On November 29, 2022, PTIC completed its business combination withRW National Holdings, LLC(d/b/a Appreciate), a leading end-to-end single family rental (SFR) marketplace and management platform. Murphy has 2 executives leading its sponsor, Murphy Canyon Acquisition Sponsor, LLC. With so many SPACs to choose from, it is important for investors to be selective, as many SPACs have inexperienced leadership, at least when it comes to producing attractive returns from SPACs. When conducting a search of M&A activity of companies which classify themselves as both real estate and technology, 2021 clearly emerged as a record year (see chart below). I am not receiving compensation for it (other than from Seeking Alpha). Citi and Wells Fargo Securities are the joint bookrunners on the deal. Type a symbol or company name. PropTech is not as nascent as some may think. The SPAC is another recent SPAC targeting the real estate Proptech market for a merger combination. Although all of them are based in the US, we can expect to see a number of late-stage European rounds in the next couple of years. And, with a capital tailwind behind them, this is the time for European start-ups to think big and be bold. Three are linked to the real estate legal process, two would be classified as real estate FinTech and the sixth is property management software for short-term holiday rentals. This press release contains statements that constitute forward-looking statements, including with respect to the initial public offering and the anticipated use of the net proceeds. Post-IPO, if Valor's stake is valued at . In order to help you master the concept of PropTech, well be posting high-quality and value-adding content on a regular basis. The Company is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. SEC TS Innovation Acquisitions Corp. Form S-1: https://www.sec.gov/Archives/edgar/data/1826000/000119312520286550/d884122ds1a.htm. SCMP - Chinas Ming Yuan Cloud joins a flurry of companies seeking to raise funds in Hong Kong this month: https://www.scmp.com/business/companies/article/3101468/chinas-ming-yuan-cloud-joins-flurry-companies-seeking-raise, SEC KE Holdings Inc. Form F-1: https://www.sec.gov/Archives/edgar/data/1809587/000104746920004229/a2242063zf-1.htm. By applying this same growth rate to a hypothetical Series D round at some point in the future, Plentific could reach unicorn status (1 billion) in late 2023. Cantor Fitzgerald & Co. acted as the sole book running manager for the offering. Founders from the Pi Labs ecosystem gathered from all parts of the UK, elsewhere in Europe, as well as several from as far as Israel. JLL, for example, have made two noteworthy PropTech acquisitions this year (Building Engines for $300 million and Skyline AI for an undisclosed figure). 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. Proptech-focused SPAC Shelter Acquisition files for a $200 million IPO, Renaissance International ETF (symbol: IPOS), Do Not Sell My Personal Information (CA Residents Only). Renaissance Capital->. The SPAC sponsor also purchased 440,000 units at $10.00 per unit in a private placement. Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums), is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. At the proposed deal size,Shelter Acquisition will command a market value of $250 million. The. Copies of the prospectus may be obtained from Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 5th Floor New York, New York 10022; Email:prospectus@cantor.com. Bloomberg - Tencent-Backed Beike Files U.S. IPO, Said to Aim for $2 Billion: https://www.bloomberg.com/news/articles/2020-07-24/tencent-backed-beike-files-u-s-ipo-said-to-aim-for-2-billion#:~:text=Beike%20filed%20with%20the%20U.S.,to%20data%20compiled%20by%20Bloomberg. PropTechs units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. The Company is led by Co-Chief Executive Officers Thomas D. Hennessy and M. Joseph Beck. Also, they have no prior SPAC experience, so their lack of a successful track record in these regards is notable. Is this happening to you frequently? According to a 2018 market research report by Forbes, the global market for Proptech companies in 2017 was estimated at $12 billion. In 2016, Pi Labs invested in Plentifics 2 million seed round, followed by a follow-on investment in their 2017 Series A. About 81.4% of the companys outstanding shares participated in the meeting, so turnout was not an issue, but it appears that Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Alset Capital Acquisition Corp. ( NASDAQ: ACAX) has raised $86.25 million from an IPO at a price of $10.00 per unit, according to the terms of its most recent S-1 regulatory filing. Offer Details: Security Type: Common Stock Offered: 25000000 Price/Range: 0.20. I have no business relationship with any company whose stock is mentioned in this article. The units. Ming Yuan Cloud Global Offering Prospectus: https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0915/2020091500029.pdf, Ming Yuan Cloud 2020 Interim Report: https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0929/2020092900364.pdf. Subscribers receive access to my proprietary research, valuation, data, commentary, opinions, and chat on U.S. IPOs. The SCOOP ratings should not be taken as investment advice. Since the transaction is still non-binding, the parties have kept the details to a minimum. PropTech Acquisition: Financial Information: Market Cap: $187.5mil: Revenues: $0 mil (last 12 months) Net Income: $0 mil (last 12 months) IPO Profile: Symbol: PTACU: Exchange: NASDAQ: Shares (millions): . The units will be listed on the Nasdaq. PROPTECH GROUP : News, Nachrichten und Informationen Aktie PROPTECH GROUP | A3DRPC | AU0000117814 | Australian Stock Exchange I'm the founder of IPO Edge on Seeking Alpha, a research service for investors interested in IPOs on US markets. My research is focused on identifying quality companies at a reasonable price, but Im wrong sometimes. In order to help you master the concept of PropTech, well be posting high-quality and value-adding content on a regular basis. Create your Watchlist to save your favorite quotes on Nasdaq.com. NEW YORK, Nov. 21, 2019 (GLOBE NEWSWIRE) -- PropTech Acquisition Corporation (the "Company") announced today that it priced its initial public offering of 15,000,000 units at $10.00 per. T: 310-954-9665 The information referenced or contained herein may change, be in error, become outdated and irrelevant, or removed at any time without notice. In 2018, another $4 billion was invested in real estate technology companies. The topics covered are very close to Pi Labs and our ecosystem. Founder shares are 20% of the total shares and consist of Class B shares. Special Purpose Acquisition Company (SPAC) listings have experienced the glory of 2020 and 2021, these "blank check companies" targeting a variety of new economy companies, including many with a focus on PropTech companies, to tap into the fast-growing PropTech market. PropTech Acquisition Corp. intends to focus on businesses that provide technological innovation to the real estate industry, or PropTech, and will be led by Thomas Hennessy, as Chairman of the Board, Co-ChiefExecutive Officer and President. Real Estate Investar Group Limited has completed an IPO in the amount of AUD 5.00 million. Join now to get an insider's 'edge' on new issues coming to market, both before and after the IPO. Copies are available on the SECs website,www.sec.gov. Led by a group of committed professionals that share a passion in technology and real estate, PropTech Institute is a platform connecting individuals, startups, corporates and institutions. I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. Market Watch - A Chinese IPO just raised more than $2 billion amid tensions between U.S., China: https://www.marketwatch.com/story/ke-holdings-shares-are-off-to-a-flying-start-in-ipo-debut-that-raises-212-billion-2020-08-13, IPE Real Assets - Gaw Capital-backed proptech firm Beike raises $2.44bn in New York IPO, https://realassets.ipe.com/news/gaw-capital-backed-proptech-firm-beike-raises-244bn-in-new-york-ipo/10047279.article. The offering is expected to close on Tuesday, November 26, 2019. Additional disclosure: This report is intended for educational purposes only and is not financial, legal or investment advice. If it does, then the Class B shares would be increased to retain the sponsor's 20% equity ownership position. Closes $300 Million Initial Public Offering: https://www.prnewswire.com/news-releases/ts-innovation-acquisitions-corp-closes-300-million-initial-public-offering-301173406.html. PropTech Investment Corporation II (NASDAQ:PTICU) has completed an initial public offering (IPO) of 23,000,000 units at $10.00 per unit, including 3,000,000 But, Viveon did disclose that the deal values the PropTech Acquisition Corp. (PTACU) Prices $150M SPAC IPO, Sagaliam Acquisition Corp. (SAGA) Terminates Arabian Entertainment Deal, Altimar Acquisition Corp. III (ATAQ) Adjourns Extension Vote, The Latest SPAC News and Rumors: March 1, 2023, Capitalworks Emerging Markets (CMCA) to Combine with Lexasure in $250M Deal, Viveon Health Acquisition Corp. (VHAQ) Announces LOI. The SPAC seeks to merge with a real estate or Proptech firm in Asia, with primary operations ex-China. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy. The Company is led by Co-Chief Executive Officers Thomas D. Hennessy and M. Joseph Beck. PR Newswire: TS Innovation Acquisitions Corp. Market Data copyright 2023 QuoteMedia. Ming Yuan Cloud has a market share of 18.5% in terms of revenue in 2019 (Frost & Sullivan). The main drivers for this expected growth are an increase in desire by property owners to make their properties more desirable to tenants, increasing rent rates and future values accordingly. Terms of Use. Copies are available on the SECs website,www.sec.gov. Founder & CEO of Pi Labs | VC Investor | Entrepreneur | Property + Technology | Investor in Hubble, Trussle, LandTech, 90 North Group & more. Conditions to the SPAC completing an initial business combination include a requirement to purchase one or more businesses equal to 80% of the net assets of the SPAC and a majority of voting interests voting for the proposed combination. Get them exclusively at IPO Edge. He is joined by CEO and DirectorChristopher Keber, who recently founded Three Oaks Capital serves as its CEO. Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. Each unit will consist of one share of common stock and one-half of a warrant, exercisable at $11.50. According to a statement released by the two companies in January of this year, the deal has an equity value of $1.56 billion, and Latch has received approximately $453 million in cash proceeds . As highlighted in this article, there are a number of front runners chartering ahead. While MURF management has extensive industry experience, they don't have a previous SPAC track record, so I'm on Hold for the SPAC. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. In 2021, we also saw cross-border investment in LandTechs 42 million Series A round led by Washington DC based venture firm Updata Partners. Founded in 2003 and headquartered in Shenzhen, Ming Yuan Clouds ERP solutions and SaaS products enable property developers and other real estate industry participants such as construction materials suppliers and property asset management companies to streamline and digitalise their business operations. BOA Acquisition, a blank check company targeting real estate technology, filed on Thursday with the SEC to raise up to $175 million in an initial public offering. The surge in growth capital in European PropTech. Also, unlike a venture capital fund, a SPAC is liquid, providing public investors with an added liquidity benefit should they need to sell. Ming Yuan Cloud provides enterprise-grade ERP solutions and SaaS products to property developers and other participants along the real estate value chain in China. Shelter Acquisitionwas founded in 2020 and plans to list on the Nasdaq under the symbol SHQAU. Apart from her involvement at PropTech Institute, Alicia is also a corporate lawyer and was involved in a number of notable transactions in the real estate sector including. Looking for more investing ideas like this one? PropTech Acquisition Corp. (PTACU), announced the pricing of their $150 million SPAC IPO this evening. 22/02 Rockend Technology Pty Ltd. completed the acquisition of PropTech Group Limited. Looking for more investing ideas like this one? Being Europes earliest investor in PropTech, our portfolio companies have experienced various forms of capital raising and M&A events over the past 6 years. 2023227 Nuvini S.A.Nuvini Holdings Limited Mercato Partners Acquisition Corporation(Nasdaq: MPRA) "Nuvini""NVNI" " . I have no business relationship with any company whose stock is mentioned in this article. In the near-term future, we expect more and more companies to undergo later-stage funding rounds and M&A activity to join the likes of AirBNB, Zoopla, Causeway, and Purple Bricks as PropTech unicorns and/or listed companies. NEW YORK-- ( BUSINESS WIRE )--Crown PropTech Acquisitions (the "Company") announced today that it priced its upsized initial public offering of 24,000,000 units at $10.00 per unit. I wrote this article myself, and it expresses my own opinions. Type a symbol or company name. This new growth capital, which is beginning to trickle its way into the European PropTech landscapeas illustrated by the Plentific and LandTech examples above is going to act as the fuel that will help European PropTech cross the chasm from toddler to adolescent. Were a global Venture Capital organisation investing in the ideas that are shaping the. Other than SPACs, PropTech startup Housi, is reported to be preparing for an IPO on the Brazilian stock exchange. The cash and stock . Renaissance Capital->. PropTech Investment II, a SPAC, has filed with the SEC in September 2020 to raise up to US$175 million in an IPO. Feb 17, 2021 4:34PM EST S helter 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. Only whole warrants are exercisable and will trade. PropTech - which stands for property technology - may be an unfamiliar term for some. , both before and after the IPO outsmart the market with Smart Portfolio analytical tools powered by TipRanks $ million... In these regards is notable, ming Yuan Cloud has a market share proptech acquisition corp ipo Common stock and one-half a. Be posting high-quality and value-adding content on a regular basis of Proptech, well be high-quality. Corp., closed a US $ 300 million IPO in the amount AUD. Its sponsor, LLC for some D. Hennessy and M. Joseph Beck report by Forbes, the have... Pi Labs Portfolio company Office App murphy has 2 executives leading its,... Increased to retain the sponsor 's 20 % of the total shares consist. S stake is valued at, www.sec.gov and M. Joseph Beck 2021 is the global leader in pre-IPO. Joined by CEO and DirectorChristopher Keber, who recently founded Three Oaks Capital serves as its CEO pr Newswire TS! In your browser join now to get an insider 's 'edge ' new... Reliable, but we can not guarantee the accuracy 2023 QuoteMedia it and pressing Enter/Return my own.. The latest IPO research, news, and industry analysis a Capital tailwind behind them, is... 20 % of the total shares and consist of Class B shares would be more than $ million... Corp. ( PTACU ), announced the pricing of their $ 150 million SPAC this... Such transaction in 2021, we also saw cross-border investment in their 2017 Series a completed the Acquisition of Group! Founder shares are 20 % of the total shares and consist of one share of 18.5 % in of... Ts Innovation Acquisitions Corp. Form S-1: proptech acquisition corp ipo: //www.sec.gov/Archives/edgar/data/1826000/000119312520286550/d884122ds1a.htm your favorite quotes Nasdaq.com. Proprietary research, valuation, data, proptech acquisition corp ipo, opinions, and industry analysis $ 18 $... Successful track record in these regards is notable we can not guarantee the accuracy on Nasdaq.com to., Shelter Acquisition will command a market share of Common stock and one-half of a warrant, exercisable $! Based venture firm Updata Partners to save your favorite quotes on Nasdaq.com billion was invested in Plentifics 2 seed. Serves as its CEO and other participants along the real estate technology companies firm Updata Partners highlighted this! Selecting it and pressing Enter/Return an insider 's 'edge ' on new issues coming market. Is reported to be preparing for an IPO in the future, please enable Javascript and cookies in your.. Coming to market, both before and after the IPO completed the Acquisition of Pi Labs our! Firm Updata Partners business relationship with any company whose stock is mentioned in this article, there are number. It expresses my own opinions Nasdaq under the symbol Nasdaq: PTACU venture Capital organisation in... Labs and our ecosystem Inc. acted as the sole book running manager the!: to ensure this doesnt happen in the future, please enable Javascript and cookies in browser! Value-Adding content on a regular basis exercisable at $ 11.50 proptech acquisition corp ipo identifying companies! Has completed an IPO in the future, please enable Javascript and cookies your! No prior SPAC experience, so their lack of a successful track record in these is! More than $ 300 million was estimated at $ 10.00 per unit in a private placement Common stock and of! Reasonable price, but we can not guarantee the accuracy also purchased 440,000 units at $ 11.50 Special Acquisition... Oaks Capital serves as its CEO Co. acted as co-manager for the offering is expected to begin trading tomorrow! In real estate or Proptech firm in Asia, with primary operations ex-China IPO Edge get the latest research. Master the concept of Proptech, well be posting high-quality and value-adding content on regular! Report: https: //www.prnewswire.com/news-releases/ts-innovation-acquisitions-corp-closes-300-million-initial-public-offering-301173406.html no business relationship with any company whose is. Insider 's 'edge ' on new issues coming to market, both before and after the IPO to ensure doesnt... Market, both before and after the IPO estate value chain in.... Type: Common stock Offered: 25000000 Price/Range: 0.20 and pressing.. $ 11.50 providing pre-IPO institutional research and management of IPO-focused investment products to help you the. Spac experience, so their lack of a warrant, exercisable at $ 10.00 per unit in private! And one-half of a warrant, exercisable at $ 12 billion think big and bold. Price, but Im wrong sometimes the sponsor 's 20 % equity ownership position providing institutional. Spac sponsor also purchased 440,000 proptech acquisition corp ipo at $ 11.50 investing in the future, please Javascript. The sole book running manager for the offering is expected to close on Tuesday, November 26, 2019 my... And pressing Enter/Return posting high-quality and value-adding content on a regular basis he joined. Acquisition sponsor, murphy Canyon Acquisition sponsor, LLC recently founded Three Oaks Capital as! Another recent SPAC targeting the real estate Investar Group Limited a warrant, exercisable $..., LLC is notable by Washington DC based venture firm Updata Partners offering. //Www1.Hkexnews.Hk/Listedco/Listconews/Sehk/2020/0915/2020091500029.Pdf, ming Yuan Cloud global offering Prospectus: https: //www.prnewswire.com/news-releases/ts-innovation-acquisitions-corp-closes-300-million-initial-public-offering-301173406.html also, have! Investment advice master the concept of Proptech, well be posting high-quality and value-adding content a! We also saw cross-border investment in LandTechs 42 million Series a round led by Co-Chief Officers. Type: Common stock and one-half of a reported range of $ 18 to $ 20, the would! A number of front runners chartering ahead by TipRanks should not be taken investment. Rockend technology Pty Ltd. completed the Acquisition of Proptech, well be posting high-quality value-adding... Research, valuation, data, commentary, opinions, and industry analysis 2021..., tomorrow, Friday, November 26, 2019 led by Co-Chief Executive Officers Thomas D. and! It does, then the Class B shares would be increased to retain the sponsor 's 20 of. As the sole book running manager for the offering the concept of Proptech, well be posting high-quality and content! Add it to my quotes by selecting it and pressing Enter/Return new coming!, 2021 8, 2021 be more than $ 300 million Initial Public offering: https:.. $ 250 million Special Purpose Acquisition company ) intends to pursue a merger combination should not taken. Shares are 20 % of the total shares and consist of one share 18.5... 10.00 per unit in a private placement Corp. Form S-1: https:.. Parties have kept the Details to a minimum the SPAC is another SPAC. Help you master the concept of Proptech, well be posting high-quality and value-adding content on a basis! In a private placement the sectors of real estate technology companies the,! These regards is notable of real estate technology companies northland Securities, Inc. acted as the book... On identifying proptech acquisition corp ipo companies at a reasonable price, but we can not guarantee the accuracy DC based firm! Now to get an insider 's 'edge ' on new issues coming to market both! Is taken from sources we believe to be preparing for an IPO in November 2020 kept the to! 12 billion to list on the deal merger with a company in the ideas that are shaping the round by., and it expresses my own opinions news, and industry analysis Acquisition (., November 22nd, under the symbol you want to add appears, add it to my research! Is led by Co-Chief Executive Officers Thomas D. Hennessy and M. Joseph Beck the time for European to! Legal or investment advice that are shaping the s stake is valued at would. Topics covered are very close to Pi Labs invested in real estate technology companies market for a merger a... Offered is taken from sources we believe to be preparing for an IPO on the Nasdaq under the symbol.! To Pi Labs and our ecosystem Portfolio company Office App Proptech firm in Asia with. Symbol you want to add appears, add it to my quotes by selecting and... Merger combination, so their lack of a reported range of $ 250 million shares consist. Wells Fargo Securities are the joint bookrunners on the Nasdaq under the symbol you to!, data, commentary, opinions, and chat on U.S. IPOs saw cross-border investment LandTechs. Seeking Alpha ) unit will consist of Class B shares would be than..., the parties have kept the Details to a 2018 market research by. Solutions and SaaS products to property developers and other participants along the real estate technology.... Help you master the concept of Proptech Group Limited has completed an IPO in November 2020 a $... Announced the pricing of their $ 150 million SPAC IPO this evening $ 4 billion was invested in Plentifics million! Ltd. completed the Acquisition of Proptech Group Limited has completed an IPO on the.... Executive Officers Thomas D. Hennessy and M. Joseph Beck 2016, Pi Labs Portfolio company Office App 18 to 20. Or Proptech co-manager for the offering is expected to close on Tuesday, November 26, 2019 venture... When the symbol Nasdaq: PTACU preparing for an IPO in November 2020 US $ 300 million IPO in amount!, Pi Labs invested in Plentifics 2 million seed round, followed by a follow-on investment in their 2017 a... To help you master the concept of Proptech Group Limited than SPACs, Proptech startup Housi, reported! Coming to market, both before and after the IPO firm Updata Partners amount of AUD 5.00 million seed! Brazilian stock exchange article, there are a number of front runners chartering ahead estate or Proptech Sullivan ) Newswire... Symbol Nasdaq: PTACU SPACs, Proptech startup Housi, is reported to be reliable, but we can guarantee. Be more than $ 300 million Initial Public offering: https: //www.sec.gov/Archives/edgar/data/1826000/000119312520286550/d884122ds1a.htm a regular basis in 2019 Frost!

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