Crown PropTech Acquisitions priced its upsized IPO of 24 million units at $10 per unit. The upsize represents a 20 percent increase from the 20 million units the SPAC initially planned to offer.
Units begin trading today on the NYSE under CPTK.U. Each consists of one Class A ordinary share and one-third of one redeemable warrant. Each whole warrant entitles the holder to purchase one Class A ordinary share at $11.50. Once the securities comprising the units begin separate trading, shares and redeemable warrants are expected to list under CPTK and CPTK WS, respectively.
The SPAC plans to target businesses that provide technological innovation to the broader real estate ecosystem.
The management team is being led by CEO and director Richard Chera, co-founder and senior managing director of Crown Acquisitions and co-founder and CEO of ReWyre. Read more.
