Company: CRAC
Filing Date: 2025-09-24
Form Type: S-1/A
Source: 0001213900-25-090802
Chunk: 32

Company: Crown Reserve Acquisition Corp. I
Filing Date: 2025-09-24
Form: S-1/A
Chunk 32
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 20% of our issued and outstanding ordinary shares upon the consummation of this offering (not including the private placement shares). Upon the closing of this offering, and assuming no value is ascribed to the Share Rights included in the units, you and the other public shareholders will incur an immediate and substantial dilution of approximately 25.5% (or $2.55 per share, assuming no exercise of the underwriters’ over -allotmentoption), the difference between the pro forma net tangible book value per share of $7.45 and the initial offering price of $10.00 per unit. This dilution would materially increase to the extent that the anti -dilutionprovisions of the Class B ordinary shares, as described above, result in the issuance of Class A ordinary shares on a greater than one -to-onebasis upon conversion of the Class B ordinary shares at the time of our initial business combination. In addition, because of the anti -dilutionprotection in the founder shares, any equity or equity -linkedsecurities issued or deemed issued in connection with our initial business combination would be disproportionately dilutive to our Class A ordinary shares.

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This dilution would be exacerbated to the extent other public shareholders seek redemptions from the trust. See “Risk Factors — Risks Relating to our Securities —” Our sponsor paid an aggregate of $25,000, or approximately $0.006 per founder share, and, accordingly, you will experience immediate and substantial dilution upon the purchase of our Class A ordinary shares. Pursuant the lock up provisions in the letter agreement entered into with us, our sponsor and our directors and executive officers have agreed not to transfer, assign or sell any of their founder shares and private placement shares owned by them, if any, as summarized in the table below:

| Subject Securities |     | Natural Persons and                                                                                                     
 Entities Subject to                                                                                                     
 Restrictions                                                                                                            |     | Expiration Date                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |     | Exceptions to Transfer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
 Restrictions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| Founder Shares     |     | Crown Acquisition Sponsor LLC Prashant Patel Eric Sherb Michael L. Peterson Donald G. Fell Avinash Wadhwani Mayur Doshi |     | The earlier to occur of (A) one year after the completion of our initial business combination or (B) the date on which we complete a liquidation,