Shearman And Sterling

News February 11, 2021

Crown PropTech Acquisitions’ $276 Million IPO

Shearman & Sterling advised RBC Capital Markets as sole book-running manager on the initial public offering of Crown PropTech Acquisitions, a special-purpose acquisition company, of 27.6 million units at an offering price of $10 per unit, each unit consisting of one Class A ordinary share and one-third of one redeemable warrant.

Crown PropTech Acquisitions is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or other similar business combination with one or more businesses. The company intends to focus on businesses that provide technological innovation to the broader real estate ecosystem. The company is led by CEO and Director Richard Chera and CFO and Director Pius Sprenger.

The Shearman & Sterling team below also included associate Katie Rumer.

The Team