secwatch.observer — SEC 8-K summary
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Issuer:     Appreciate Holdings, Inc. (—)
CIK:        0001821075
Form:       8-K
Filed at:   2022-12-05T23:59:59+00:00
Accession:  0001213900-22-077647
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.01, 5.02, 3.02, 9.01, 2.03, 3.03, 5.07, 4.01, 5.01, 5.03, 5.05, 5.06, 7.01, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Appreciate Holdings closes $312M business combination with Renters Warehouse, new equity facility
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- Closed business combination with Renters Warehouse; total consideration $312M; name changed from PropTech Investment Corp II.
- Renters Warehouse unitholders received 31.2M non-voting NewCo Class B Units; PTIC II contributed for 23M Class A Units.
- Entered $100M committed equity facility (CEF) via CEF Purchase Agreement; shares sold at 98% of VWAP.
- Tax Receivable Agreement: pays 85% of tax savings from certain attributes; lump-sum estimated at ~$50K if terminated immediately.
- Deferred service provider fees total ~$26.5M; K&E $7.7M, Moelis $3.75M, Northland $6M; interest at 1%/month.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1821075/000121390022077647/0001213900-22-077647-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1821075/000121390022077647/ea169605-8k_appreciate.htm
  HTML page:      https://secwatch.observer/filing/0001213900-22-077647

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