1. CPTP filed Form 15 to deregister Class A stock. This halts SEC reporting obligations. 2. The company will remain listed on OTCQX with disclosure compliance. Continuous trading is planned despite deregistration. 3. CPTP specializes in long-term leasing for commercial and outdoor advertising. Their real estate portfolio is in Rhode Island.
Deregistration may lead to reduced investor confidence, as seen with other companies. Past examples include decreases in stock liquidity and visibility.
Deregistration impacts compliance and investor perceptions, which can affect stock valuation. The decision reflects broader corporate strategy and market position.
The shift to private may limit future capital-raising options and investor interest. Companies often take time to adjust their strategies post-deregistration.
Capital Properties, Inc. (OTCQX: CPTP) today announced that it filed a Form 15 with the Securities and Exchange Commission (the "SEC") to deregister its Class A common stock under Section 12(g) of the Securities Exchange Act of 1934, as amended (the "34 Act"), and to suspend its reporting obligations under Section 15(d) of the '34 Act. The Company's obligation to file periodic reports with the SEC, including reports on Forms 10-K, 10-Q and 8-K, was suspended immediately upon filing of Form 15. Once Form 15 is effective, which is expected to occur 90 days after filing, the Company will no longer be a public reporting company.
Despite the termination of registration, the Company intends to continue to qualify for trading on the OTCQX by complying with the OTC Markets disclosure requirements, which include among others things, filing of quarterly and annual disclosure documents.
Capital Properties, Inc. and its subsidiary's principal business consist of the long-term leasing of certain of its real estate interests in downtown Providence, Rhode Island for commercial development, and the leasing of locations along interstate and primary highways in Rhode Island and Massachusetts for outdoor advertising purposes.
Susan R. Johnson, Treasurer
401-435-7171
SOURCE Capital Properties, Inc.