Company: CRAC
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-111020
Chunk: 14

Company: Crown Reserve Acquisition Corp. I
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 14
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 affiliate of our sponsor or certain of our officers and directors may make any working capital loans, up to $5,000,000 of such loans may be converted into private placement units at a price of $8.00 per unit, at the option of the lender.  11  CROWN RESERVE ACQUISITION CORP. I NOTES TO CONDENSED FINANCIAL STATEMENTS Note 4 — Related Party Transactions (cont.)  In addition, in order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). If the Company completes a Business Combination, the Company would repay the Working Capital Loans out of the proceeds of the Trust Account released to the Company. Otherwise, the Working Capital Loans would be repaid only out of funds held outside the Trust Account. In the event that a Business Combination does not close, the Company may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. Except for the foregoing, the terms of such Working Capital Loans, if any, have not been determined and no written agreements exist with respect to such loans. The Working Capital Loans would either be repaid upon consummation of a Business Combination, without interest, or, at the lender’s discretion, up to $5,000,000 million of such Working Capital Loans may be convertible into private placement units of the post Business Combination entity at a price of $8.00 per units. Such units would be identical to the private placement units.   As of June 30, 2025, the Company has borrowed $171,748 under this arrangement. The note is non-interest bearing, unsecured and due at the earlier of December 31, 2025, or the closing of the Initial Public Offering. The note will be repaid out of the estimated $580,000 of offering proceeds that have been allocated to the payment of offering expenses. As of the issuance date of these financial statements, the note is still outstanding.  Support Services  Commencing on the closing of the Initial Public Offering, the Company has agreed to pay an affiliate of the Sponsor a fee of approximately $10,000 per month for office space and administrative support services following the consummation of the Initial Public Offering until the