Crown PropTech Proposes Deadline Extension Incentive Plan

Crown PropTech (CPTK) has released an update to notify the public and investors about a regulation fd disclosure.

Crown PropTech Acquisitions has announced an Extraordinary General Meeting for shareholders on February 8, 2024, to vote on extending the deadline to finalize a business combination until August 11, 2024. As an incentive, certain investors entering into non-redemption agreements will receive Class B shares from CIIG Management if they don’t redeem their shares during this meeting and hold them through the business combination process. The company assures maintenance of its trust account funds in secure, interest-bearing investments and will not use these funds for potential excise taxes related to share redemptions. While no guarantee is made regarding non-redemption incentives, the company believes this strategy may boost the funds retained in the trust account post-meeting.

For further insights into CPTK stock, check out TipRanks’ Stock Analysis page.

For a comprehensive understanding of the announcement, you can read the full document here.