Crown PropTech faces NYSE delisting; shareholders approve extension to Aug 2024

Crown PropTech Acquisitions

NYSE to delist CPTK for failing to combine within 3 years; trading suspended Feb 12. Company will not appeal.
Shareholders approved extension to Aug 11, 2024 (8,137,124 for, 14,777 against); 2,195,847 shares redeemed, leaving 2,000,638 Class A shares outstanding.
Company plans to transfer listing to OTC Markets (OTCQX) and will continue SEC filings.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Crown PropTech Acquisitions: Approved amendment to Second Amended and Restated Memorandum and Articles of Association to extend the deadline to consummate an initial business combination from February 11, 2024 to August 11, 2024 (effective 2024-02-09).

Change: charter amendment
Effective: 2024-02-09

Exact text from the filing

The shareholders approved, by special resolution, the proposal to amend and restate the Company’s Second Amended and Restated Memorandum and Articles of Association (the “Amended Charter”) to extend the date by which the Company must (1) consummate a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination (an “initial business combination”), (2) cease all operations except for the purpose of winding up if it fails to complete such initial business combination, and (3) redeem all of the Class A Ordinary Shares included as part of the units sold in the Company’s initial public offering that was consummated on February 11, 2021, from February 11, 2024 to August 11, 2024 (the “Extension Proposal”).

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Crown PropTech Acquisitions shareholders approved Extension Proposal to amend the Company's articles to extend the deadline to consummate a business combination from February 11, 2024 to August 11, 2024 at the 2024-02-09 meeting.

Proposal: charter amendment
Outcome: passed
Meeting: 2024-02-09

Exact text from the filing

The following is a tabulation of the votes with respect to the Extension Proposal, which was approved by the Company’s shareholders: Approval of Extension Proposal Votes For Votes Against Abstentions 8,137,124 14,777 405

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Crown PropTech Acquisitions shareholders approved Adjournment Proposal to adjourn the Extraordinary General Meeting at the 2024-02-09 meeting.

Outcome: passed
Meeting: 2024-02-09

Exact text from the filing

Approval of Adjournment Proposal Votes For Votes Against Abstentions 8,137,538 14,768 0

View on SEC.gov

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Crown PropTech Acquisitions filing history →

Source: SEC EDGAR

accession 0001213900-24-012639

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