Company: CRAC
Filing Date: 2025-08-01
Form Type: S-1/A
Source: 0001213900-25-070728
Chunk: 152

Company: Crown Reserve Acquisition Corp. I
Filing Date: 2025-08-01
Form: S-1/A
Chunk 152
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 audit committee will review on a quarterly basis all payments that were made by us to our sponsor, officers, directors, advisers, or any of 96 their respective affiliates and will determine which expenses and the amount of expenses that will be reimbursed. There is no cap or ceiling on the reimbursement of out -of -pocketexpenses incurred by such persons in connection with activities on our behalf. Prior to the closing of this offering, our sponsor has agreed to loan us up to $5,000,000 to be used for a portion of the expenses of this offering. As of May 15, 2025, we had borrowed $110,000 under the promissory note with our sponsor. These loans are non -interestbearing, unsecured and are due at the earlier of December31, 2025, or the closing of this offering. These loans will be repaid upon the closing of this offering out of the offering proceeds not held in the trust account. In addition, in order to finance transaction costs in connection with an intended initial business combination, our sponsor or an affiliate of our sponsor or certain of our officers and directors may, but are not obligated to, loan us funds as may be required. If we complete our initial business combination, we would repay such loaned amounts. In the event that our initial business combination does not close, we may use a portion of the working capital held outside the trust account to repay such loaned amounts but no proceeds from our trust account would be used for such repayment. Up to $5,000,000 of such loans may be convertible into private placement units at a price of $10.00 per unit, at the option of the lender. Such units would be identical to the private placement units. The terms of such loans by our officers and directors, if any, have not been determined and no written agreements exist with respect to such loans. We do not expect to seek loans from parties other than our sponsor or an affiliate of our sponsor as we do not believe third parties will be willing to loan such funds and provide a waiver against any and all rights to seek access to funds in our trust account. Our sponsor has committed to purchase an aggregate of 277,500 private placement units (or 300,000 private placement units if the underwriters’ over -allotmentoption is exercised in full) at a price of $10.00 per unit ($2,775,000 in the aggregate, or $3,000,000 in the aggregate if the underwriters’ over