PropTech Acquisition Co.’s (NASDAQ:PTAC) Lock-Up Period Will Expire on November 11th

PropTech Acquisition’s (NASDAQ:PTAC) lock-up period will end on Wednesday, November 11th. 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. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the end of the lock-up period.

Analysts Set New Price Targets

Separately, Weiss Ratings started coverage on shares of PropTech Acquisition in a research note on Monday, September 28th. They issued a “sell (e)” rating for the company. One research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock presently has an average rating of “Sell”.

PropTech Acquisition Stock Performance

Shares of PTAC stock opened at $10.09 on Friday. PropTech Acquisition has a 1-year low of $9.74 and a 1-year high of $10.10. The business has a 50-day moving average of $9.83 and a 200 day moving average of $7.98.

PropTech Acquisition Company Profile

PropTech Acquisition Corp. was a special purpose acquisition company (SPAC) formed to identify and combine with a business operating in the real estate technology sector. Unlike an operating company, its primary activity before completing a transaction was raising capital through a public offering and searching for a suitable merger or acquisition target.

PropTech Acquisition Corp. entered into an agreement to combine with Porch.com, a technology platform serving the home services and residential real estate markets.