Company: CRAC
Filing Date: 2025-09-25
Form Type: S-1/A
Source: 0001213900-25-091297
Chunk: 169

Company: Crown Reserve Acquisition Corp. I
Filing Date: 2025-09-25
Form: S-1/A
Chunk 169
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pire, PowerUp Merger Sub II, Inc., a Delaware corporation and wholly owned subsidiary of PowerUp, SRIRAMA Associates, LLC, a Delaware limited liability company, Stephen Quesenberry, in the capacity as the seller representative, and Aspire Biopharma, Inc., a Puerto Rico corporation. New Aspire held a shareholder vote to amend its amended and restated memorandum and articles of association to extend the time that the company had to consummate an initial business combination. Upon closing the agreement, “PowerUp Acquisition Corp.” changed its name to “Aspire Biopharma Holdings, Inc.” Prior to the closing of the business combination, certain New Aspire public shareholders exercised their right to redeem certain of their outstanding shares for cash, resulting in the redemption of 507,631shares of the New Aspire Class A common stock outstanding prior to the business combination for an aggregate payment of $5,882,859. •Aesther Healthcare Acquisition Corp. (n/k/a Ocean Biomedical, Inc. (OTC: OCEA)) — Mr. Patel served as a board advisor. Mr. Peterson served as a director from June 2021 until the completion of its initial business combination in February 2023. Mr. Peterson served as a director of the post -combinationcompany until his voluntary resignation on July31, 2025. Mr. Fell served as a director from June 2021 until the completion of its initial business combination in February 2023. On February14, 2023, Aesther Healthcare Acquisition Corp. (“AEHA”) completed the acquisition of Ocean Biomedical Holdings, Inc. pursuant to a definitive agreement, as amended. AEHA exercised two three -monthextension options to complete the transaction. Upon closing the agreement, AEHA changed its name from “Aesther Healthcare Acquisition Corp.” to “Ocean Biomedical, Inc.” Prior to the closing of the business combination, certain AEHA public shareholders exercised their right to redeem certain of their outstanding shares for cash, resulting in the redemption of 10,389,093shares of the company’s Class A common stock for an aggregate payment of $58,847,564.50. •Kernel Group Holdings, Inc. (NASDAQ: KRNL) — Mr. Peterson has served as a director since December 2022. Mr. Fell has served as a director since December 2022. On August5, 2024, Kernel Group Holdings, Inc. issued a press release announcing it will redeem all of its outstanding Class A