Company: CRAC
Filing Date: 2025-05-30
Form Type: S-1
Source: 0001213900-25-049453
Chunk: 216

Company: Crown Reserve Acquisition Corp. I
Filing Date: 2025-05-30
Form: S-1
Chunk 216
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 141 Founder Shares The founder shares are designated as Class B ordinary shares and are identical to the Class A ordinary shares included in the units being sold in this offering, and holders of founder shares have the same shareholder rights as public shareholders, except that: (i) only the holders of the founder shares have the right to vote on the appointment of directors prior to our initial business combination; (ii) the founder shares are subject to certain transfer restrictions, as described in more detail below; (iii) our sponsor, officers and directors have entered into a letter agreement with us, pursuant to which they have agreed (A) to waive their redemption rights with respect to their founder shares held by them, and any public shares they may acquire during or after this offering in connection with the completion of our initial business combination and (B) to waive their rights to liquidating distributions from the trust account with respect to their founder shares if we fail to complete our initial business combination within 24 months from the closing of this offering or during any Extension Period, although they will be entitled to liquidating distributions from the trust account with respect to any public shares they hold if we fail to complete our initial business combination within such time period; (iv) the founder shares are shares of our Class B ordinary shares that will automatically convert into Class A ordinary shares at the time of our initial business combination, on a one -for -onebasis, subject to adjustment pursuant to certain anti -dilutionrights, as described herein and in our amended and restated memorandum and articles of association; and (v) the founder shares are entitled to registration rights. If we submit our initial business combination to our public shareholders for a vote, our sponsor, officers and directors have agreed (and their permitted transferees will agree), pursuant to the terms of a letter agreement entered into with us, to vote any founder shares held by them and any public shares purchased during or after this offering in favor of our initial business combination. As a result, in addition to the founder shares held by our sponsor, officers and directors, we would need only 5,625,000, or approximately 37.5%, of the 15,000,000 public shares sold in this offering to be voted in favor of a transaction (assuming all issued and outstanding shares are voted) in order to have our initial business combination approved (assuming the over -allotmentoption is not exercised). The Class B ordinary shares will automatically convert into Class A ordinary shares at the time of our initial business combination on a