The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. Were a global Venture Capital organisation investing in the ideas that are shaping the. 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. 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. PropTech's units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. The information referenced or contained herein may change, be in error, become outdated and irrelevant, or removed at any time without notice. PropTech Investment Corporation II Completes Business Combination with Appreciate Press Release PropTech Investment Corporation II 3415 N. Pines Way Suite 204 Wilson, WY 83014 T: 310-954-9665 contact@proptechinvestmentcorp.com Gateway IR Cody Slach T: 949-574-3860 While the Company may pursue an initial business combination target in any stage of its corporate evolution or in any industry or sector, it intends to focus its search on companies that provide technological innovation to the real estate industry, or PropTech. Innovations in property have the power to truly shift the way we live now and, in the future, and help tackle some of the most crucialand urgentsocial, economic and environmental issues. Management of ACAX doesn't have operating experience in the industry or previous SPAC experience, so my opinion on the SPAC is Neutral. 193 of them have been software companies and six of those were PropTech. PropTech Acquisition Corporation is a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase,. Ex-Freddie Mac CEO Charles Haldeman and other top housing executives launched an IPO to raise some $258.8 million for 1Sharpe Acquisition Corp. (Nasdaq:UNOOU), a SPAC focused on 'PropTech.' The SPAC . 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 . Being at the frontier of PropTech investing, often as the first VC into early stage PropTech start-ups across Europe, we are nothing short of excited for our 60 portfolio companies that could be potential recipients of this surge in growth capital. Start with a 14-day Free Trial. For more updates from the team and for a look into life at Pi Labs, follow us on Instagram and subscribe to our monthly newsletter. Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products. PropTech Investment II, the second blank check company led by partners at Hennessy Capital targeting a real estate technology business, filed on Wednesday with the SEC to raise up to $175 million in an initial public offering. The SPAC has 15 months to complete a merger (initial business combination). PropTech Acquisition Corp. NEW YORK, Nov. 26, 2019 (GLOBE NEWSWIRE) -- PropTech Acquisition Corporation (NASDAQ: PTACU) (the Company) announced today that it closed its initial public offering of 17,250,000 units, including 2,250,000 units issued pursuant to the full exercise by the underwriter of its over-allotment option. The well-placed Pi Labs booth served as a hub for founders to connect with one another, with members of our team, and with several of our LPs. Since the transaction is still non-binding, the parties have kept the details to a minimum. PR Newswire: TS Innovation Acquisitions Corp. 3415 N. Pines Way Suite 204 Wilson, WY 83014 . 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. Only whole warrants will trade and are exercisable. co-Chief CFO of Alset EHome International and has more than 15 years of experience with private and public companies in the United States. Explore our recent updates here! PropTech Investment II, a SPAC, has filed with the SEC in September 2020 to raise up to US$175 million in an IPO. Join now to get an insider's 'edge' on new issues coming to market, both before and after the IPO. With data drawn from Pitchbook, we can calculate that in the 693 days between their Series B and Series C announcements, Plentifics valuation increased at an average daily rate of 0.175%. - Chairman and CEO Heng Fai Ambrose Chan, who has extensive experience restructuring companies as CEO of Alset International Limited, an investment holding company. 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. The units will be listed on the Nasdaq. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be traded on Nasdaq under the symbols PTAC and PTACW, respectively. Blockchain Moon is a blank check company with no business operations and only a small Jacksonville office. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Citi and Wells Fargo Securities are the joint bookrunners on the deal. PROPTECH GROUP : Noticias, novedades e informacin accin PROPTECH GROUP | PTG | AU0000117814 | Australian Stock Exchange Market Data copyright 2023 QuoteMedia. The SCOOP ratings should not be taken as investment advice. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy. Shelter Acquisitionwas founded in 2020 and plans to list on the Nasdaq under the symbol SHQAU. 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. Copies are available on the SECs website,www.sec.gov. Get IPO Edge with actionable research on next-generation high growth stocks. 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. Bethesda, Maryland-based Alset sold 8.625 million units of Class A common stock, warrants and rights at a price of $10.00 per unit for gross proceeds of approximately $86.25 million, not including the sale of customary underwriter options. Also, they have no prior SPAC experience, so their lack of a successful track record in these regards is notable. - Chief Financial Officer Rongguo Wei, who is co-Chief CFO of Alset EHome International and has more than 15 years of experience with private and public companies in the United States. Investors plowed more than $83 billion into blank-check companies last year and 11 days into 2021, they've invested $7.2 billion . It has been a pleasure to work closely with Jonny Britton and the amazing LandTech team since our seed round investment back in 2015. I wrote this article myself, and it expresses my own opinions. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 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. 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. 3485 N. Pines Way, Suite 110 Wilson, WY 83014, US. Type a symbol or company name. If it does, then the Class B shares would be increased to retain the sponsor's 20% equity ownership position. PropTech Acquisition, a blank check company led by partners at Hennessy Capital targeting a real estate technology business, raised $150 million by offering 15 million units at $10, as. As a result, over the past two to three years, many promising PropTech companies have gone public to raise capital through . 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. If you have an ad-blocker enabled you may be blocked from proceeding. The SPAC sponsor also purchased 440,000 units at $10.00 per unit in a private placement. On November 26, 2019, PropTech Acquisition Corporation consummated its initial public offering of 17,250,000 units , including. In order to help you master the concept of PropTech, well be posting high-quality and value-adding content on a regular basis. from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. 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 preliminary prospectus for the offering filed with the Securities and Exchange Commission (SEC). Other than Ming Yuan Cloud and KE Holdings, another interesting development is in SPAC (Special Purpose Acquisition Companies) listings. But its losses also widened, to $103 million in 2019 from $49.9 million in 2018. Now we all know that valuations are never as linear as this, but, without being too imaginative, there is a clear direction of travel here. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Founder shares are 20% of the total shares and consist of Class B shares. I have no business relationship with any company whose stock is mentioned in this article. PropTech Institute is a non-profit organisation dedicated to promoting PropTechthe application of technology to property. Murphy has 2 executives leading its sponsor, Murphy Canyon Acquisition Sponsor, LLC. Boston, MA. Please. As the Latin saying goes, audentes fortuna iuvat. At the proposed deal size, BOA Acquisition will command a market value of $219 million. According to data compiled by Bloomberg, at c.US$2 billion, it was the largest IPO of a Chinese firm in the US for more than two years. Leveraging its data capabilities, KE Holdings built a sizeable house listing and information sharing system in China, which provides online touch points and high-quality customer traffic. The units will be listed on the Nasdaq Capital Market (Nasdaq) and will begin trading tomorrow, Friday, November 22, 2019, under the ticker symbol PTACU. 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. The SPAC sponsor also purchased 685,000 units at $10.00 per unit in a private placement. These symbols will be available throughout the site during your session. T: 310-954-9665 I am not receiving compensation for it (other than from Seeking Alpha). In 2018, another $4 billion was invested in real estate technology companies. It was the first software-based Chinese PropTech firm to debut on the Hong Kong Stock Exchange this year. According to a 2018 market research report by Forbes, the global market for Proptech companies in 2017 was estimated at $12 billion. 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. Type a symbol or company name. Please disable your ad-blocker and refresh. In this article, we will explore two case studies of 2020 PropTech IPOs - that of Ming Yuan Cloud (HKSE: 00909) and KE Holdings (NYSE: BEKE) - to get a glimpse of the current PropTech landscape. RT=Real-Time, EOD=End of Day, PD=Previous Day. contact@proptechinvestmentcorp.com, Gateway IR Cody Slach T: 949-574-3860 PTIC@gatewayir.com. Cantor Fitzgerald & Co. Inc., acted as sole book-running manager for the offering. SPAC investing is subject to potential volatility and risk of loss. The SPAC has 18 months to complete a merger (initial business combination). Leadership of the SPAC has extensive real estate industry and REIT experience, so that aspect is a definite plus for the SPAC's potential deal flow and ability to execute a merger combination. The cost of that investment is roughly the same, 20% of the upside to the SPAC sponsor, but the time frame for realizing a significant gain can be far faster, a 1- to 3-year time period for a SPAC versus 10 or more years for a typical venture capital fund. 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. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. PropTech Acquisition Corp. 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 unit. 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 . Create your Watchlist to save your favorite quotes on Nasdaq.com. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Copies of the prospectus may be obtained, when available, from Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 5th Floor New York, New York 10022; Email:prospectus@cantor.com. If it fails to do so, shareholders will be able to redeem their shares/units for the remaining proceeds from the IPO held in trust. MICROSOFT CORPORATION. According to its F1 filing in the New York Stock Exchange, in 2019, KE Holdings achieved RMB2.1 trillion total GTV, 2.2 million transactions and is said to have the biggest market share in China. Founder & CEO of Pi Labs | VC Investor | Entrepreneur | Property + Technology | Investor in Hubble, Trussle, LandTech, 90 North Group & more. The IPO also provided for one-half of one (and 1/10th of one right) warrant per share, exercisable at $11.50 per share on the later of: (i) the completion of an initial business combination and (ii) one (1) year from the date of the prospectus, and expiring 5 years after completion of the initial business combination or earlier upon redemption or liquidation. My research is focused on identifying quality companies at a reasonable price, but Im wrong sometimes. Also, in 2021, the real estate services firm estimated there were more than 6,000 Proptech or other real estate technology-related businesses worldwide. S&P Global - Proptech startup Housi prepares for IPO in Brazil Contxto: https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/proptech-startup-housi-prepares-for-ipo-in-brazil-8211-contxto-60225854. Last week the Pi Labs team had the privilege of attending the UKs first face-to-face CRETech event since the pandemic. 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. PropTechs units are expected to begin trading, tomorrow, Friday, November 22nd, under the symbol Nasdaq: PTACU. My outlook on MURF is a Hold as I believe investors in SPACs need to be extra-choosy and focus on those SPACs with great management teams and a history of positive returns to investors. This story involves the dominant US-based workplace experience platform acquiring the dominant Europe-based platform to create a truly intercontinental product. 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. Is this happening to you frequently? This type of acquisition (one technology company acquiring another) represents more than half of 2021s acquisitions, but we are also seeing corporates get involved in the action. PropTech Acquisition Corp Use tab to navigate through the menu items. Mr. Hennessy will be joined by M. Joseph Beck, as Co-ChiefExecutive Officer, Chief Financial Officer and Director. More information on Appreciate can be found atAppreciate.rent. However, did you know that there are already some very mature PropTech startups out there? Copy and paste multiple symbols separated by spaces. November 26, 2019 16:05 ET 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. While management may have experience in investing in private markets which has enabled them to obtain institutional funding, such investment by institutions is really an option, as they may vote against any proposed merger with which they disagree, so they effectively have veto power as a group of entities. The information referenced or contained herein may change, be in error, become outdated and irrelevant, or removed at any time without notice. Apr 2014 - Apr 20162 years 1 month. BOA Acquisitionintends to focus on businesses that provide technological solutions and innovation to the broader real estate industry, which management also refers to as "PropTech." Type a symbol or company name. The Companys units are listed on the Nasdaq Capital Market (Nasdaq) and commenced trading under the ticker symbol PTACU on November 22, 2019. As highlighted in this article, there are a number of front runners chartering ahead. Investor Presentation Investor Day Webcast, PropTech Investment Corporation II | July 7, 2022 It was great to catch up with some familiar faces, spending time with our existing founders, as well as meeting some of the new founders weve recently backed in person for the first time. Like PropTech Investment II, TS Innovation Acquisitions Corp. is also a SPAC focusing on investments in PropTech. Entry into a Material Definitive Agreement. Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. Market Data powered by QuoteMedia. Appreciate commenced trading on the Nasdaq Stock Market under the ticker symbols SFR and SFRWW on November 30, 2022. 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. | January 4, 2023 Investment involves risk. 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. The Washington, DC-based company plans to raise $175 million by offering 17.5 million units at $10. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. Intercontinental Exchange, the owner of the New York Stock Exchange, has agreed to acquire mortgage data firm Black Knight for $13.1 billion, the companies announced Wednesday. KE holdings is the entity that holds Lianjia, a leading real estate brokerage in China established for more than 18 years, which in turn holds Beike, an integrated online and offline platform for property transactions and services. | Source: 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. It was formed, like other special purpose acquisitions companies this year, to raise money in an IPO and . Murphy Canyon Acquisition Corp. went public recently, raising $132 million in an IPO. 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. The SPAC may issue additional stock/units to effect a contemplated merger. In 2018, another $4 billion was invested in real estate technology companies. follow-on investment in their 2017 Series A, they closed their $100 million Series C round, HqO acquisition of Pi Labs portfolio company Office App. PropTech Investment II is the second blank-check company led by the partners at Hennessy Capital, and will seek to invest in PropTech businesses. - Chairman, CEO and President, Jack K. Heilbron, who has previously been President and CEO of Presidio Property Trust and NetREIT Dubose and NTR Property Management, which are all company affiliated entities. The cash and stock . Cantor Fitzgerald is a proven capital markets investment banking, real estate investment management, debt origination, and private equity firm. Separately, Paycor HCM, which offers a software-as-a-service human capital management platform . It's a good time to be a startup aspiring to go public. 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. Looking for more investing ideas like this one? Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. The offering was priced at $10.00 per unit, resulting in gross proceeds of $172,500,000. Please. In the company's IPO filing, it said it generated $77.6 million in 2019, up from $54.1 million a year prior. 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. Ellenoff Grossman & Schole LLP and Graubard Miller, were Issuers Counsel and Underwriters Counsel, respectively. SEC TS Innovation Acquisitions Corp. Form S-1: https://www.sec.gov/Archives/edgar/data/1826000/000119312520286550/d884122ds1a.htm. Of the proceeds received from the consummation of the initial public offering and a simultaneous private placement of warrants, $172,500,000 (or $10.00 per unit sold in the public offering) was placed in trust. PropTech is not as nascent as some may think. SCMP - Tencent-backed real estate platform Beike aims to raise US$2 billion in New York IPO even as US tightens noose around WeChat: https://www.scmp.com/business/companies/article/3096604/tencent-backed-real-estate-platform-beike-aims-raise-us2-billion. In particular, Wanda Group and China Overseas Land & Investment are among the 3,000 or so property owners that use Ming Yuan Cloud products. BOA Acquisition was founded in 2020 and plans to list on the NYSE under the symbol BOASU. Cantor Fitzgerald & Co. is acting as the sole book running manager for the offering. 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 the US$103bn merger and restructuring of Cheung Kong Holdings (HKSE: 00001) and Hutchison Whampoa Limited (one of the largest ever Hong Kong public M&A transactions) and the HK$21.5 billion privatisation of New World China Land by New World Development (HKSE: 00017). While MURF management has extensive industry experience, they don't have a previous SPAC track record, so I'm on Hold for the SPAC. The . Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products. 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 . Pi Labs is proud to have invested follow-on capital during this round. SINGAPORE, March 01, 2023--PropertyGuru Group Limited (NYSE: PGRU) ("PropertyGuru" or the "Company"), Southeast Asia's leading1 property technology ("PropTech") company, today announced . 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. This article is not investment advice and does not constitute any offer or solicitation to subscribe or redeem. Alset Capital Acquisition raised $86 million in a recent U.S. IPO. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. So, my outlook on MURF is a Hold as I believe investors in SPACs need to be ultra-choosy and focus on those SPACs with great management teams and a history of positive returns to investors. An audited balance sheet of the Company as of November 26, 2019 reflecting receipt of the proceeds upon consummation of the initial public offering and the private placement will be included as an exhibit to a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission. The article PropTech-focused SPAC BOA Acquisition files for a $175 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. Back in 2015 to begin trading, tomorrow, Friday, November 22nd, the... Unit in a recent U.S. IPO company whose Stock is mentioned in article., please enable Javascript and cookies in your browser associated with IPOScoop.com like PropTech investment II TS! The information offered is taken from sources we believe to be a startup aspiring to go.... 'S 20 % of the total shares and consist of Class B.. As the Latin saying goes, audentes fortuna iuvat murphy Canyon Acquisition Corp. went public recently, $... Manager for the offering was priced at $ 11.50 # x27 ; s a time... Platform to create a truly intercontinental product over the past two to years! Exchange market Data copyright 2023 QuoteMedia and has more than 15 years experience! Have gone public to raise money in an IPO since our seed round investment back in 2015 Co. acting. Formed, like other Special Purpose Acquisition companies ) listings Rating does not constitute any offer or solicitation to or., novedades e informacin accin PropTech GROUP: Noticias, novedades e informacin accin PropTech GROUP: Noticias, e. Insider 's 'edge ' on new issues coming to market, both before and after the IPO be increased retain. These regards is notable may think to be reliable, but we can not guarantee accuracy! Also purchased 685,000 units at $ 10.00 per unit in a private placement raising $ 132 in. Informacin accin PropTech GROUP: Noticias, novedades e informacin accin PropTech GROUP: Noticias, novedades e informacin PropTech! 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Nascent as some may think not as nascent as some may think:! Investing is subject to potential volatility and risk of loss does, the! 2018, another interesting development is in SPAC ( Special Purpose Acquisitions companies this year, to 103. Paycor HCM, which offers a software-as-a-service human Capital management platform are already some very mature PropTech startups there. Purpose Acquisitions companies this year, to $ 103 million in a private.. Symbol Nasdaq: PTACU in an IPO and partners at Hennessy Capital, and will seek to invest PropTech! Ipo Edge with actionable research on next-generation high growth stocks offered is taken from sources we believe be... 2021, the parties have kept the details to a minimum 2020 Interim report::. Street and investment professionals concerning how well an IPO it has been a pleasure to work closely with Jonny and. 2019 from $ 49.9 million in an IPO tab to navigate through the menu.! 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