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PTAC - PTAC STOCK NEWS

Welcome to our dedicated page for PTAC news (Ticker: PTAC), a resource for investors and traders seeking the latest updates and insights on PTAC stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect PTAC's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of PTAC's position in the market.

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PropTech Acquisition Corporation (NASDAQ: PTAC) announced that its stockholders overwhelmingly approved the business combination with Porch.com, Inc. on December 21, 2020. With 99.99% support, stockholders voted to retain shares, resulting in over $322 million in gross proceeds to accelerate growth in a $220 billion market. The merger will finalize on December 23, 2020, after which the combined entity will operate as Porch Group, Inc. under the ticker PRCH. This vote reflects confidence in Porch's vertical SaaS business model and growth strategy.

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PropTech Acquisition Corporation (NASDAQ: PTAC) reminds stockholders to vote for the proposed business combination with Porch.com, Inc. The vote will take place virtually on December 21, 2020, at 11:00 a.m. Eastern time. Stockholders are encouraged to ensure their shares are voted, as the deadline for proxy submission is December 20, 2020. Notably, less than 1,000 public shares were submitted for redemption, leaving approximately $173 million in PropTech’s trust account, which will be released upon closing the business combination.

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The leadership teams of PropTech Acquisition Corporation (NASDAQ: PTAC) and Porch.com, Inc. are set to host a virtual investor day on December 1, 2020, from 2:00 to 4:00 PM ET. The presentation will detail Porch's product roadmap and introduce new team members. This event follows the definitive merger agreement announced on July 30, 2020, which aims to take Porch public. Post-merger, PropTech will be renamed Porch Group, Inc. and listed under the new ticker PRCH.

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Porch, a leading home services platform, is nearing completion of its business combination with PropTech Acquisition Corporation (NASDAQ: PTAC). This merger is expected to finalize in Q4 2020. Porch's CEO, Matt Ehrlichman, highlighted the company's unique fully integrated software platform, which has proven beneficial to nearly two-thirds of U.S. homebuyers in recent transactions. An initial registration statement was filed with the SEC as part of the merger process. More details about Porch and its services can be found on their website.

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