NEW YORK--(BUSINESS WIRE)--Crown PropTech Acquisitions announced the closing today of its initial public offering of 27,600,000 units at a price of $10.00 per unit, including 3,600,000 units sold to the underwriters pursuant to the full exercise of the over-allotment option. The units began trading on the New York Stock Exchange under the ticker symbol “CPTK.U” on February 9, 2021. Each unit consists of one Class A ordinary share and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Only whole warrants are exercisable. After the securities comprising the units begin separate trading, the Class A ordinary shares and the warrants are expected to be listed on NYSE under the symbols “CPTK” and “CPTK WS,” respectively.

The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company intends to concentrate on businesses that provide technological innovation to the broader real estate ecosystem. This includes a focus on businesses that provide technological solutions that make the built environment more accessible, connected, dynamic, efficient, experiential and sustainable.