HomeReal Estate NewsCommercialSmart glass company View announces plans to go public

Smart glass company View announces plans to go public

Smart window company View recently announced its merger agreement with special purpose acquisition company (SPAC) CF Finance Acquisition Corp. II. Cantor Fitzgerald sponsored the deal, and the new company will be called View, Inc. The transaction values View at an enterprise value of $1.6 billion, and is expected to deliver up to $800 million of gross proceeds including the contribution of up to $500 million of cash held in CFII’s trust account from its initial public offering.

View’s next-generation smart windows use artificial intelligence (AI) and machine learning to tint glass so it optimizes natural light to control heat and glare. Each pane of glass has its own IP address and can be accessed through the internet. These capabilities can help enhance tenants’ mental and physical well-being and create smart connected buildings that can reduce energy consumption and greenhouse gas emissions. The company serves numerous commercial real estate properties including offices, airports, educational institutions, healthcare facilities as well as multi-family units. The intersection of climate change, human health and smart buildings has increased demand for View’s windows, according to the company.

Environmental, social and governance initiatives, as well as growing government regulations that will require CRE buildings to become energy efficient and net-zero-energy dwellings will likely put View’s solutions higher on building owners’ priority lists. The need for reliable wireless in-building connectivity will also become stronger for any CRE owner who wants to use View’s products.

View Chairman and CEO, Dr. Rao Mulpuri, and Chief Financial Officer, Vidul Prakash will continue to lead the company after the transaction closes.

“Climate change and human health are two of the most important challenges and opportunities of our time, and View is well-positioned to use technology to drive change across the real estate industry,” Mulpuri said in a statement. “View has created groundbreaking products, covered by over 1,000 patents and built state of the art manufacturing operations in the United States. As we become a public company and continue on our growth strategy, we are very excited to partner with Howard Lutnick and the team at Newmark, which will enable us to leverage their deep commercial real estate expertise.”

“View’s smart windows are a game changer that will revolutionize the real estate experience,” Howard Lutnick, Chairman and CEO of Cantor Fitzgerald, CF Finance Acquisition Corp. II, and Chairman of Newmark Group said in a statement. “Buildings will no longer need blinds and shades, which will enhance the experience of building occupants, substantially reduce energy usage, and improve space utilization.

“We are excited to be working with Rao and the team at View to not only help deliver the capital needed to further build out View’s capacity, but also leverage our real estate platforms to create awareness, scale and drive change across the real estate industry.”

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