Company: CRAC
Filing Date: 2025-09-24
Form Type: S-1/A
Source: 0001213900-25-090802
Chunk: 117

Company: Crown Reserve Acquisition Corp. I
Filing Date: 2025-09-24
Form: S-1/A
Chunk 117
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 a target business that subsequently declines in value. On May 12, 2025, our sponsor paid $25,000 to cover certain offering costs in exchange for 4,312,500 founder shares. Up to 562,500 founder shares are subject to forfeiture by our sponsor depending on the extent to which the underwriters’ over -allotmentoption is exercised. If none of the founder shares are forfeited, the resulting purchase price 72

would be approximately $0.006 per share. Certain of our officers and directors have a significant economic interest in our sponsor. As a result, the low acquisition cost of the founder shares creates an economic incentive whereby our officers and directors could potentially make a substantial profit even if we complete a business combination with a target business that subsequently declines in value and is unprofitable for public investors. The nominal purchase price paid by our sponsor for the founder shares may result in significant dilution to the implied value of your public shares upon the consummation of our initial business combination. We are offering our units at an offering price of $10.00 per unit and the amount in our trust account is initially anticipated to be $10.00 per public share, implying an initial value of $10.00 per public share. However, prior to this offering, our sponsor paid a nominal aggregate purchase price of $25,000 for the founder shares, or approximately $0.006 per share. As a result, the value of your public shares may be significantly diluted upon the consummation of our initial business combination, when the founder shares are converted into public shares. For example, the following table shows the dilutive effect of the founder shares on the implied value of the public shares upon the consummation of our initial business combination, assuming that our equity value at that time is $149,700,000, which is the amount we would have for our initial business combination in the trust account after payment of $300,000 of deferred underwriting commissions, assuming the underwriters’ over -allotmentoption is not exercised, no interest is earned on the funds held in the trust account, and no public shares are redeemed in connection with our initial business combination, and without taking into account any other potential impacts on our valuation at such time, such as the trading price of our public shares, the business combination transaction costs, any equity issued or cash paid to the target’s sellers or other third parties, or the target’s business itself, including its assets, liabilities, management and prospects, as