The NYSE removed Crown Proptech Acquisitions from the exchange, according to a regulatory filing, because the SPAC had not completed a deal within the 36-month mandate required for a listing.
Crown PropTech shareholders on Feb. 9 approved a deadline extension to Aug. 11. As a result, the SPAC intends to transfer the listing of its securities to the OTC Markets Group where it has applied to trade on OTCQX.
The SPAC closed a $276 million IPO three years ago with plans to concentrate on businesses that provide technological innovation to the broader real estate ecosystem. Cash in trust was just over $45 million as of Dec. 31.
Earlier this month, co-CEO Gavin Cuneo resigned from the SPAC. Read more.
