The New York Stock Exchange has suspended trading and begun listing the warrants of Crown PropTech Acquisitions. Trading in the SPAC’s shares and units will continue.
NYSE regulators in a statment said the decision was based on “abnormally low” price levels for the warrants.
The SPAC has a right to a review.
Crown PropTech suffered a setback in August when merger partner Brivo abandoned the deal, a move the SPAC at the time vowed to oppose and “vigorously pursue its remedies.” In July, Golub Capital terminated its $68 million PIPE in the Brivo deal because it was not completed by the deadline. Read more.
