Company: CRAC
Filing Date: 2025-09-25
Form Type: S-1/A
Source: 0001213900-25-091297
Chunk: 117

Company: Crown Reserve Acquisition Corp. I
Filing Date: 2025-09-25
Form: S-1/A
Chunk 117
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 the units sold. The NTBV reflects our tangible assets after accounting for these liabilities, resulting in a lower per share value compared to the initial implied value of the shares. (4)All founder shares would automatically convert into Class A ordinary shares upon completion of our initial business combination or earlier at the option of the holder.

73 The value of the founder shares following completion of our initial business combination is likely to be substantially higher than the nominal price paid for them, even if the trading price of our Class A ordinary shares at such time is substantially less than $10.00 per share. Upon the closing of this offering, assuming no exercise of the underwriters’ over -allotmentoption, our sponsor, and the non -managingsponsor investors (if any) will have invested in us an aggregate of $2,800,000, comprised of the $25,000 purchase price for the founder shares and the $2,775,000 purchase price for the private placement units. Assuming a trading price of $10.00 per share upon consummation of our initial business combination, the 3,750,000 founder shares would have an aggregate implied value of $37,500,000. Even if the trading price of our Class A ordinary shares was as low as $0.70 per share, and the private placement units were worthless, the value of the founder shares would be equal to the sponsor’s, and the non -managingsponsor investors’ (if any), aggregate initial investment in us. As a result, our sponsor, including the non -managingsponsor investors (if any), is likely to be able to recoup its investment in us and make a substantial profit on that investment, even if our public shares have lost significant value. Accordingly, our management team, which owns interests in our sponsor, may have an economic incentive that differs from that of the public shareholders to pursue and consummate an initial business combination rather than to liquidate and to return all of the cash in the trust to the public shareholders, even if that business combination were with a riskier or less -establishedtarget business. For the foregoing reasons, you should consider our management team’s financial incentive to complete an initial business combination when evaluating whether to redeem your shares prior to or in connection with the initial business combination. In addition, our non -managingsponsor investors (if any) may have different interests than other public shareholders due to their additional upfront investment in the Company and their membership interests in the sponsor. The determination of