Company: CRAC
Filing Date: 2025-11-12
Form Type: 8-K
Source: 0001213900-25-108750
Chunk: 3

Company: Crown Reserve Acquisition Corp. I
Filing Date: 2025-11-12
Form: 8-K
Item: Item 3.02
Chunk 3
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Item 3.02. Unregistered Sales of Equity Securities.

Simultaneously with the closing of the IPO and pursuant to the Private
Placement Units Purchase Agreement, the Company completed the private sale of an aggregate of 375,000 private placement units (the “ Private
Placement Units”) to Crown Acquisition Sponsor LLC at a price of $8.00 per Private Placement Unit. 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.

The issuance of the Private Placement Units was made pursuant to the
exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.

Item 5.02. Departure of Directors or
Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On September 26, 2025, upon the
effectiveness of its registration statement on Form S-1 (File No. 333-287674) in connection with its initial public offering, Michael
L. Peterson, Donald G. Fell, Avinash Wadhwani, and Mayur Doshi (collectively with Prashant Patel and Eric Sherb, the “ Directors,”
and each a “ Director”) became members of the board of directors. Our board of directors has determined that Michael L. Peterson,
Donald G. Fell, and Mayur Doshi are “independent directors” as defined in the Nasdaq listing standards and under the Securities
Exchange Act of 1934, as amended (“ Exchange Act”), and has determined that Michael L. Peterson qualifies as an “audit
committee financial expert” as that term is defined in Item 407(d)(5) of Regulation S-K under the Exchange Act. Michael L. Peterson,
Donald G. Fell, and Mayur Doshi will serve as members of the audit committee and compensation committee, with Michael L. Peterson serving
as chair of the audit committee and Donald G. Fell serving as chair of the compensation committee.

On November 5, 2025, the Company
entered into an indemnification agreement with the Directors, which require the Company to indemnify each of them to the fullest extent
permitted by applicable law and to advance expenses incurred as a result of any proceeding against them as to which they could be indemnified.
The