CPTK Crown PropTech Acquisitions
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
February 18, 2021
CROWN PROPTECH ACQUISITIONS
(Exact Name of Registrant as Specified in its Charter)
(State or other jurisdiction
667 Madison Avenue
New York, NY
|(Address of Principal Executive Offices)||(Zip Code)|
|Registrant’s telephone number, including area code: (212) 563-6400|
|(Former name or former address, if changed since last report)|
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
|☐||Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)|
|☐||Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)|
Securities registered pursuant to Section 12(b) of the Act:
|Title of each class||Trading Symbol(s)||Name of each exchange on which registered|
|Class A ordinary shares, par value $0.0001 per share||CPTK||The New York Stock Exchange|
|Redeemable warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50||CPTK WS||The New York Stock Exchange|
|Units, each consisting of one Class A ordinary share and one-third of one redeemable warrant||CPTK.U||The New York Stock Exchange|
Emerging growth company ☒
Item 8.01. Other Events.
On February 11, 2021, Crown PropTech Acquisitions (the “Company”) consummated its initial public offering (“IPO”) of 27,600,000 units (the “Units”), which included the exercise of the underwriters’ option to purchase an additional 3,600,000 Units at the initial public offering price to cover over-allotments. Each Unit consists of one Class A ordinary share of the Company, par value $0.0001 per share (the “Class A Ordinary Shares”), and one-third of one redeemable warrant of the Company (“Warrant”), each whole Warrant entitling the holder thereof to purchase one Class A Ordinary Share for $11.50 per share. The Units were sold at a price of $10.00 per unit, generating gross proceeds to the Company of $276,000,000.
Substantially concurrently with the closing of the IPO, the Company completed the private sale of 5,013,333 warrants (the “Private Placement Warrants”) to Crown PropTech Sponsor, LLC and certain funds and accounts managed by subsidiaries of BlackRock, Inc. at a purchase price of $1.50 per Private Placement Warrant, generating gross proceeds to the Company of $7,520,000.
A total of $276,000,000, comprised of $270,480,000 of the net proceeds from the IPO, including $9,660,000 of the underwriters’ deferred discount, and $5,520,000 of the proceeds of the sale of the Private Placement Warrants, was placed in a U.S.-based trust account at J.P. Morgan Chase Bank, N.A., maintained by Continental Stock Transfer & Trust Company, acting as trustee. An audited balance sheet as of February 11, 2021 reflecting receipt of the proceeds upon consummation of the IPO and the Private Placement has been issued by the Company and is included as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
|99.1||Audited Balance Sheet, as of February 11, 2021|
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: February 18, 2021
|CROWN PROPTECH ACQUISITIONS|
|By:||/s/ Richard Chera|
|Chief Executive Officer|