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NYSE to Commence Delisting Proceeding Against Crown PropTech Acquisitions (CPTK)

February 12, 2024 at 09:15 AM EST

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

The New York Stock Exchange (“NYSE”, the “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the two securities enumerated below (“Securities”) of Crown PropTech Acquisitions (the “Company”) from the Exchange. Trading in the Company’s Securities will be suspended immediately.

Symbol	Description
CPTK	Class A ordinary shares
CPTK.U	Units, each consisting of one Class A ordinary share and one-third of one redeemable warrant

NYSE Regulation reached its decision to delist these Securities pursuant to Sections 802.01B and 102.06e. of the NYSE’s Listed Company Manual because the Company failed to consummate a business combination within the shorter of (i) the time period specified by its constitutive documents or by contract or (ii) three years.

The Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the Securities upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.