February 3, 2023

FDI Forum

Earn the right Invest

PropTech Expenditure Corporation II and Respect Announce Closing of Business Mixture

PropTech Investment Company II

Buying and selling of Respect Securities on Nasdaq to Start on Wednesday, November 30, 2022

NEW YORK and MINNETONKA, Minn., Nov. 29, 2022 (Globe NEWSWIRE) — PropTech Financial commitment Corporation II (NASDAQ: PTIC) (“PropTech II” or “PTIC”) and RW Nationwide Holdings, LLC (d/b/a Appreciate) (“Appreciate” or “the company”), the father or mother keeping business of Renters Warehouse, jointly announced right now that they have shut their beforehand declared business blend (the “Business Combination”).

With the closing, the put together corporation has been renamed “Appreciate Holdings, Inc.” and its widespread inventory and warrants will begin buying and selling on The Nasdaq Inventory Industry (“Nasdaq”) underneath the ticker symbols “SFR” and “SFRWW”. Trading of Appreciate securities is expected to begin on Wednesday, November 30, 2022. To rejoice the closing, Enjoy CEO Chris Laurence and President Kevin Ortner will ring the closing bell on the Nasdaq on December 8, 2022.

“Today is a momentous working day for our organization, our staff and our shareholders,” stated Chris Laurence, CEO of Value. “This positions Value as the community leader in the SFR products and services small business and will allow us to increase our providing for each specific and institutional traders in SFR.”

Tom Hennessy, Chairman, co-CEO and President of PTIC II, commented: “We are thrilled to shut our business combination with Take pleasure in. A community listing catalyzes the Company’s expansion in the highly fragmented single family members rental TAM and we believe that that Value will go on to be supported by macroeconomic tailwinds for residential rental true estate. With its special stop-to-finish platform, an accomplished management crew, confirmed revenue design, and really scalable unit economics, we are self-assured that Respect will be an enduring community enterprise that will supply extensive-expression shareholder returns.”

About Enjoy
Value, the mother or father keeping enterprise of Renters Warehouse, is a major stop-to-end SFR market and management platform. The firm provides a entire-company platform for investing in and possessing SFR qualities, like a proprietary on the web market and entire-assistance brokerage groups in around 40 marketplaces. For a lot more details, check out recognize.lease.

About PropTech Expense Corporation II
PropTech Financial investment Corporation II is a special goal acquisition organization with a proven worth creation product concentrated on real estate technologies. PTIC’s mission is to be a strategic expansion associate for founders, management, workforce and stockholders when adhering to PTIC’s main values of stewardship, transparency, integrity, and accountability. For more details, visit proptechinvestmentcorp.com.

Forward-Seeking Statements
Particular statements in this conversation may well be thought of forward-looking statements. Ahead-searching statements commonly relate to potential gatherings or PTIC’s or Appreciate’s future financial or working effectiveness, and other “forward-hunting statements” (as this sort of phrase is defined in the Personal Securities Litigation Reform Act of 1995), which contain statements relating to the Business enterprise Mixture. In some instances, you can determine ahead-on the lookout statements by terminology this kind of as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” or the negatives of these phrases or related expressions that predict or suggest potential situations or traits or that are not statements of historic matters. These forward-seeking statements are subject to a amount of threats and uncertainties. If any of these pitfalls materialize or our assumptions confirm incorrect, real success could differ materially from the benefits implied by these ahead-hunting statements.

These forward-hunting statements are primarily based upon estimates and assumptions that, though deemed realistic by PTIC and its administration, and/or Recognize and its administration, as the circumstance may perhaps be, are inherently uncertain. Factors that could result in true final results to differ materially from recent anticipations consist of, but are not confined to: (1) the end result of any legal proceedings that might be instituted versus PTIC, Respect, the put together business pursuing the Small business Mixture (2) the failure of any situation precedent to the dedicated equity facility in connection with the popular inventory acquire arrangement by and in between PTIC and CF Principal Investments LLC, which could cause the termination of this kind of facility (3) the capacity to fulfill stock trade listing requirements following the consummation of the transactions contemplated by the business mixture agreement (4) the danger that the transactions contemplated by the business mixture disrupt latest plans and functions of Recognize or PTIC (5) the skill to identify the predicted rewards of the transactions contemplated by the enterprise combination arrangement, which may be afflicted by, among the other issues, opposition, the skill of the mixed firm to grow and control advancement profitably, manage relationships with customers and suppliers and retain its management and critical staff members (6) expenses similar to the transactions contemplated by the business mix arrangement (7) adjustments in applicable legislation or regulations (8) the likelihood that Take pleasure in or the mixed organization adhering to the Business enterprise Mixture may possibly be adversely influenced by other economic, business, and/or aggressive aspects (9) Appreciate’s estimates of charges and profitability (10) the failure to notice expected professional forma effects or projections and underlying assumptions, like with regard to believed stockholder redemptions, buy rate, and other adjustments (11) financial debt defaults, and the have to have for or failure to get hold of supplemental money and (12) other threats and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Be aware About Forward-Hunting Statements” in PTIC’s Yearly Report on Form 10-K for the yr finished December 31, 2021, Quarterly Studies on Kind 10-Q for the quarters finished March 31, 2022, June 30, 2022, and September 30, 2022, the Proxy Statement relating to the Organization Mixture, and in any subsequent filings with the SEC. There may possibly be additional dangers that neither PTIC nor Enjoy presently know or that PTIC and Recognize at present think are immaterial that could also bring about actual effects to vary from people contained in the forward-on the lookout statements.

Practically nothing in this communication ought to be regarded as a illustration by any human being that the ahead-looking statements set forth herein will be reached or that any of the contemplated success of this kind of ahead-hunting statements will be reached. You should really not place undue reliance on forward-wanting statements, which discuss only as of the date they are produced. Neither PTIC nor Respect undertakes any obligation, and each of PTIC and Value expressly disclaims any obligation, to update or alter the foregoing or any projections or ahead-on the lookout statements, no matter if as a final result of new details, potential events or otherwise.

Contacts:

Traders
Cody Slach, Ralf Esper
Gateway Group
(949) 574-3860
[email protected]

Media
Zach Kadletz, Anna Rutter
Gateway Group
(949) 574-3860
[email protected]