Crown PropTech restates financials due to equity classification error; prior reports not reliable

Crown PropTech Acquisitions

All Class A shares reclassified from permanent to temporary equity because redemption events outside company control.
Affected periods: audited balance sheet 2/11/2021, unaudited Q1, Q2, Q3 2021 financials.
Material weakness identified in internal control over financial reporting; disclosure controls ineffective.
No impact on cash or trust account; restatements are non-cash adjustments only.
Audit report from Marcum LLP for the Feb 11, 2021 balance sheet also no longer reliable.

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