Crown Proptech Acquisitions Stock Price, News & Analysis

Crown PropTech Acquisitions announced it received a notice from the NYSE on April 18, 2023, for failing to timely file its Annual Report on Form 10-K for the year ended December 31, 2022. The NYSE has given the Company six months from April 17, 2023, to file the report, with the possibility of a further six-month extension if needed. The delay was due to additional information required for the Company’s financial statements. The Company aims to file the Form 10-K by May 1, 2023. Crown PropTech Acquisitions focuses on merging with businesses that offer technological innovation in real estate, enhancing accessibility, connectivity, and sustainability.

Crown PropTech Acquisitions (NYSE:CPTK) announced the adjournment of its Extraordinary General Meeting initially scheduled for February 7, 2023, now set for February 9, 2023. Shareholders will vote on an Extension Proposal to amend the Memorandum and Articles of Association, extending the deadline for an initial business combination from February 11, 2023, to February 11, 2024. The record date for shareholders remains January 17, 2023. Shareholders may withdraw redemption requests with the Company’s consent until the vote occurs. The Proxy Statement with detailed information was filed with the SEC on January 25, 2023.

Crown PropTech Acquisitions (NYSE:CPTK) is set to hold an Extraordinary General Meeting (EGM) on February 7, 2023, at 11:00 a.m. ET. The meeting will address a proposal to extend the deadline for an initial business combination from February 11, 2023, to February 11, 2024. Shareholders of record as of January 17, 2023, can vote in person or online. If the Extension Proposal does not receive sufficient votes, an adjournment may be requested. Shareholders can redeem their public shares until February 3, 2023, for cash, upon approval of the Extension Proposal. Further details are available in the Proxy Statement filed with the SEC.

Brivo has achieved Great Place to Work Certification™ for the first time, with 92% of employees affirming it as a great workplace, significantly higher than the 57% average in U.S. companies. This certification reflects Brivo's commitment to a positive employee experience. The company, which specializes in cloud-based access control and smart building tech, is in the process of merging with Crown PropTech Acquisitions (NYSE: CPTK), further enhancing its growth trajectory.

Brivo has partnered with Doyle Security Systems, enhancing its market presence in New York and Pennsylvania. This collaboration allows Doyle to offer Brivo Access, a cloud-based access control solution, expanding its service portfolio. The partnership aims to drive operational efficiency and improve customer satisfaction. Brivo's technology supports modern security needs while integrating seamlessly with various applications. This strategic move aligns with both companies' missions, potentially increasing customer bases and reinforcing quality service in the security industry.

Brivo has integrated its cloud-based access control system with ZeroEyes, an AI-based gun detection solution, aiming to enhance security in active shooter situations. This partnership will allow immediate remote locking of entryways when a firearm is detected, improving the response time for first responders. Since the Columbine shooting, over 300,000 students have faced gun violence, highlighting the urgency for such solutions. Brivo is set to go public via a merger with Crown PropTech Acquisitions (NYSE: CPTK) under the new ticker symbol 'BRVS'.

Brivo has appointed Maureen Perrelli as Chief Revenue Officer, effective immediately, to support its global expansion and growth strategy. Her extensive experience in cloud-based enterprise and cyber security will be instrumental for Brivo in the smart spaces market. The company, in partnership with Crown PropTech Acquisitions (CPTK), aims to leverage its technology and over 1,500 channel partners to enhance market share. Brivo plans to become publicly traded under the ticker BRVS post-merger.

This strategic leadership move aligns with Brivo's focus on user experience in security and convenience for real estate.

Brivo has launched the Brivo Unified Credential, a cross-platform smart credential enhancing security by integrating with select Schlage and ASSA ABLOY locks. The new system allows property managers to use a single credential for various devices, eliminating the risks associated with insecure proximity cards. This innovation aims to meet the growing demand for flexibility in access control solutions without compromising security. Brivo is currently in a merger agreement with Crown PropTech Acquisitions (CPTK), set to enhance its market position.