Company: CRAC
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-111020
Chunk: 15

Company: Crown Reserve Acquisition Corp. I
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 15
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 earlier of the consummation of the Business Combination or liquidation. 

Note 5 — Private Placement Units  Simultaneously with the closing of the Initial Public Offering, the Company completed the private sale of an aggregate of 375,000 Private Placement Units to the Sponsor at a price of $8.00 per Private Placement Unit, generating gross proceeds of $3,000,000. Each Private Placement Unit consists of one Class B-2 Unit and two Class C Units, with each Class B-2 Unit and Class C Unit consisting of one class A ordinary share and one right to receive one-fifth of one Class A ordinary share.  Of those 375,000 Private Placement Units, the Sponsor purchased 175,000 and Polaris purchased 200,000 Private Placement Units. Each Private Placement Unit is identical to the Units sold in the Initial Public Offering, except that it will not be redeemable, transferable, assignable or salable by the Sponsor until the completion of its initial Business Combination (except to certain permitted transferees).  The Sponsor and the Company’s officers and directors have agreed, subject to limited exceptions, not to transfer, assign or sell any of their private placement units or Class B-2 Units (and the Class A ordinary shares issuable upon their exercise) until the completion of the initial Business Combination and any of their Class C Units (and the Class A ordinary shares issuable upon their exercise) until three months after the completion of the initial Business Combination.

12

CROWN
RESERVE ACQUISITION CORP. I
NOTES TO CONDENSED FINANCIAL STATEMENTS

Note 6 — Commitments and Contingencies Registration Rights The holders of (i) Founder Shares, (ii) Private Placement Units which were issued in a private placement simultaneously with the closing of the Initial Public Offering, and the Class A ordinary shares and private placement rights underlying such private placement units and the Class A ordinary shares underlying such rights and (iii) Private Placement Units that may be issued upon conversion of Working Capital Loans and the Class A ordinary shares and private placement rights underlying such Private Placement Units and the Class A ordinary shares underlying such rights will be entitled to registration rights (in the case of the Founder Shares, only after conversion of such shares to Class A Ordinary Shares) pursuant to a registration rights agreement to be signed on or before the date of the Initial Public Offering. These holders will be entitled to certain demand