Crown PropTech Acquisitions (CPTK.U) Prices Upsized $240M IPO


Crown PropTech Acquisitions (CPTK.U) Prices Upsized $240M IPO

Crown PropTech Acquisitions announced the pricing of its upsized $240 million IPO this evening and its units are expected to begin trading on the NYSE under the symbol “CPTK.U” Tuesday, February 9.

The new company aims to combine with a business providing technological innovation to real estate with a cross-industry platform. Crown PropTech is led by CEO Richard Chera and CFO Pius Sprenger.

Total SPAC deal count for 2021 year-to-date is now 127 with $37.6 billion in gross proceeds raised. This offering is expected to close on Thursday, February 11.

RBC Capital Markets is acting as the sole book-running manager for the offering. Davis Polk & Wardwell LLP is serving as Issuer’s Counsel with Shearman & Sterling LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.