#United States #Providence #SEC Filing #Capital Properties #OTCQX

Capital Properties, Inc. Moves Toward Deregistration with SEC Filing

In a significant development for investors and the market, Capital Properties, Inc. (OTCQX: CPTP) has announced its filing of a Form 15 with the Securities and Exchange Commission (SEC). This strategic move aims to deregister its Class A common stock under the Securities Exchange Act of 1934 (the '34 Act), while also suspending its reporting obligations as mandated by Section 15(d) of the same act.

The filing was officially executed on February 11, 2025, marking a pivotal moment in the company’s operational strategy. With the immediate effect of this action, Capital Properties will no longer be required to submit periodic reports to the SEC, including forms such as 10-K, 10-Q, and 8-K. However, the company is taking steps to ensure compliance with trading on the OTCQX market, adhering to its disclosure requirements, which necessitate filing quarterly and annual documents.

Strategic Reasons Behind the Filing

The decision to file Form 15 is driven by the company’s objective to enhance operational efficiency and reduce administrative burdens associated with public reporting. By organizing its resources towards its core business and minimizing compliance costs, Capital Properties can focus on its long-term leasing activities and commercial dealings effectively.

According to company representatives, after the Form 15 becomes effective within approximately 90 days, Capital Properties will step back from the public-reporting sector. It will primarily engage in the long-term leasing of its real estate interests, particularly in downtown Providence, Rhode Island, and other high-traffic areas in Rhode Island and Massachusetts for outdoor advertising.

About Capital Properties, Inc.

Capital Properties, Inc. is dedicated to maximizing the value of its real estate portfolio. The company's operations are centered on long-term leasing strategies that support commercial development. The firm’s principal activities include leasing key areas in downtown Providence for commercial purposes while also acquiring and leasing strategic roadside property for advertising.

This focus aligns with emerging market trends where businesses seek prime advertising space alongside highways and interstates, thereby maximizing visibility and engagement with potential customers. Capital Properties is committed to capitalizing on such opportunities, ensuring its real estate interests serve both community and corporate needs.

Future Outlook

The filing of Form 15 does not signify the end of Capital Properties’ presence in the financial landscape. Instead, it represents a shift in how the company will operate amid evolving market conditions and investor needs. While it transitions away from SEC reporting, the intention to comply with OTC Markets’ disclosure requirements indicates an ongoing commitment to transparency and regulatory compliance.

Investors can anticipate improved allocation of company resources towards growth and development projects, particularly those that capitalize on the firm’s existing real estate portfolio. Susan R. Johnson, Treasurer of the company, is available for further inquiries at 401-435-7171 as the firm navigates this new chapter.

In conclusion, Capital Properties, Inc.’s recent SEC filing marks a transformative step in its operational strategy, reflecting a response to the dynamic challenges of public markets. As the company remains proactive in its leasing activities, it is positioned to continue its strategic objectives without the extensive requirements of ongoing public reporting.