Capital Properties, Inc. Completes Form 15 Filing for Deregistration
Capital Properties, Inc. Announces Form 15 Filing
Capital Properties, Inc. (OTCQX: CPTP) has recently made an important move by filing a Form 15 with the Securities and Exchange Commission (SEC). This filing aims at deregistering its Class A common stock under Section 12(g) of the Securities Exchange Act of 1934, which marks a significant transition for the company.
Understanding the Implications of Deregistration
Upon filing the Form 15, Capital Properties, Inc. will suspend its obligation to file periodic reports with the SEC, including essential filings like Forms 10-K, 10-Q, and 8-K. This suspension takes effect immediately with the filing of the Form 15. Once this form becomes effective, which is expected to occur 90 days post-filing, the company will no longer be classified as a public reporting entity.
Maintaining OTCQX Status
Though the registration will be terminated, Capital Properties, Inc. remains committed to retaining its status as a traded entity on the OTCQX. The company plans to continue meeting the OTC Markets' disclosure requirements, which will involve the ongoing filing of quarterly and annual disclosure documents. This approach allows the company to ensure visibility and transparency with its stakeholders, despite moving away from extensive SEC reporting.
About Capital Properties, Inc.
Capital Properties, Inc. is focused on long-term leasing opportunities involving its real estate assets in key areas for commercial development. The company's two primary business segments include leasing key properties in urban settings as well as prime locations along major interstates and highways for outdoor advertising. These strategic leases enable the company to maximize its real estate investments while providing valuable locations for advertisers and commercial developers.
Contact Information
For inquiries, please reach out to Susan R. Johnson, the Treasurer at Capital Properties, Inc. You can contact her directly at 401-435-7171. The company's dedication to maintaining an open line of communication demonstrates its commitment to transparency and engagement with stakeholders.
Frequently Asked Questions
What is the significance of the Form 15 filing?
The Form 15 filing allows Capital Properties, Inc. to deregister its Class A common stock, which means it will cease being classified as a public reporting company.
How will the filing affect shareholders?
Shareholders will still have opportunities to see disclosures as the company intends to meet OTC Markets' requirements, although they will not receive SEC filings.
Will Capital Properties, Inc. continue trading publicly?
Yes, the company plans to keep its listing on the OTCQX and will comply with the necessary disclosure requirements set by OTC Markets.
Who should I contact for more information?
Susan R. Johnson is the person to contact for inquiries, and she can be reached directly via phone at 401-435-7171.
What business activities does Capital Properties, Inc. engage in?
The company primarily focuses on long-term leasing of real estate for commercial purposes and outdoor advertising along significant highways.
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