Company: CRAC
Filing Date: 2025-09-24
Form Type: S-1/A
Source: 0001213900-25-090802
Chunk: 176

Company: Crown Reserve Acquisition Corp. I
Filing Date: 2025-09-24
Form: S-1/A
Chunk 176
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 obligations of our officers or directors would materially affect our ability to complete our business combination. Our officers and directors are not prohibited from becoming either a director or officer of any other special purpose acquisition company with a class of securities registered under the Exchange Act. Initial Business Combination Nasdaq rules require that our initial business combination must occur with one or more operating businesses or assets with an aggregate fair market value equal to at least 80% of the assets held in the trust account (excluding the deferred underwriting commissions and any taxes payable on the income earned on the trust account) at the time of our signing a definitive agreement in connection with our initial business combination. We refer to this as the 80% fair market value test. If our board of directors is not able to independently determine the fair market value of the target business or businesses, we will obtain an opinion from an independent investment banking firm or another independent entity that commonly renders valuation opinions for the type of company we are seeking to acquire or an independent accounting firm. We do not currently intend to purchase multiple businesses in unrelated industries in conjunction with our initial business combination, although there is no assurance that will be the case. In addition, pursuant to Nasdaq rules, any initial business combination must be approved by a majority of our independent directors. 108 We will have until 12 months from the closing of this offering to consummate an initial business combination, subject to the initial three month Extension Period. However, if we anticipate that we may not be able to consummate our initial business combination within such period, our shareholders may vote by special resolution to amend our amended and restated memorandum and articles of association to extend the period of time that we have to consummate the initial business combination. There is no limit on the number of extensions that we may seek; however, we do not expect to extend the time period to consummate our initial business combination beyond 36months from the closing of this offering and the Nasdaq will de -listour securities if our initial business combination is not consummated within 36months. We will provide all public shareholders with the opportunity to redeem their public shares in connection with any such vote. Unless we complete our initial business combination with an affiliated entity, or our board of directors cannot independently determine the fair market value of the target business or businesses, we are not required to obtain an opinion that the price we are paying for a target is fair to our Company from a financial point of view from any of the following: (i) an independent investment banking firm; (ii) another