Crown PropTech Acquisitions (CPTK) is a blank check company with no operating history or revenues, focused solely on completing a business combination. The company has entered into a Business Combination Agreement (BCA) with Mkango Rare Earths Limited (MKAR) on July 2, 2025, aiming to merge Merger Sub into SPAC, with PubCo (MKAR) becoming a publicly traded company on Nasdaq. An amendment to the BCA on February 13, 2026, extended the 'Outside Date' for the business combination from March 11, 2026, to September 30, 2026, with a potential automatic extension to December 31, 2026, if the SEC has not declared the Proxy/Registration Statement effective by August 14, 2026. The company's Class A ordinary shares and units were delisted from the NYSE on February 12, 2024, due to failure to consummate a business combination within three years, and its public warrants were delisted on November 18, 2022, due to abnormally low price levels; securities now trade on over-the-counter markets. Shareholders have approved multiple extensions for the business combination deadline, most recently extending it to March 11, 2027, on March 9, 2026. Each extension has been accompanied by significant shareholder redemptions, reducing the number of Class A ordinary shares outstanding from 27,600,000 at IPO to 483,822 as of March 9, 2026. The company reported a net loss of $3,013,571 for the year ended December 31, 2025, compared to a net loss of $204,458 for the year ended December 31, 2024. As of December 31, 2025, the company had only $425 in cash outside the trust account and a working capital deficit of $5,297,042. Management has identified a material weakness in internal control over financial reporting related to the accounting for complex financial instruments and review procedures around key reconciliations. Underwriters of the Initial Public Offering waived their right to receive $9,660,000 in deferred underwriting commissions in December 2022.