Company: CRAC
Filing Date: 2025-07-11
Form Type: S-1/A
Source: 0001213900-25-063347
Chunk: 247

Company: Crown Reserve Acquisition Corp. I
Filing Date: 2025-07-11
Form: S-1/A
Chunk 247
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 and subject to further adjustment as provided herein and in our amended and restated memorandum and articles of association. In the case that additional Class A ordinary shares, or equity -linkedsecurities, are issued or deemed issued in excess of the amounts sold in this offering and related to the closing of our initial business combination, the ratio at which Class B ordinary shares shall convert into Class A ordinary shares will be adjusted (unless the holders of a majority of the issued and outstanding Class B ordinary shares agree to waive such anti -dilutionadjustment with respect to any such issuance or deemed issuance) so that the number of Class A ordinary shares issuable upon conversion of all Class B ordinary shares will equal, in the aggregate, on an as -convertedbasis, 20% of the sum of all ordinary shares issued and outstanding upon completion of this offering (irrespective of whether or not such ordinary shares are redeemed in connection with our initial business combination) plus all Class A ordinary shares and equity -linkedsecurities issued or deemed issued in connection with our initial business combination (excluding any shares or equity -linkedsecurities issued, or to be issued, to any seller in our initial business combination, and any ordinary shares issued upon exercise of private placement units issued to our sponsor or its affiliates upon conversion of loans made to us). Any conversion of the Class B ordinary 155 shares described herein will take effect as a compulsory redemption of Class B ordinary shares and an issuance of Class A ordinary shares as a matter of Cayman Islands law. In no event will the Class B ordinary shares convert into Class A ordinary shares at a rate of less than one -to -one. The term “equity -linkedsecurities” refers to any debt or equity securities that are convertible, exercisable or exchangeable for our Class A ordinary shares issued in a financing transaction in connection with our initial business combination, including but not limited to a private placement of equity or debt. Securities could be “deemed issued” for purposes of the conversion adjustment if such shares are issuable upon the conversion or exercise of convertible securities, warrants or similar securities. With certain limited exceptions, the founder shares are not transferable, assignable or salable (except to our officers and directors and other persons or entities affiliated with our sponsor, each of whom will be subject to the same transfer restrictions) until the earlier of (A) one year after the completion of our initial business combination or (B) subsequent to our initial business combination, (x) if the last reported sale price of the Class A