Company: CRAC
Filing Date: 2025-07-16
Form Type: S-1/A
Source: 0001213900-25-064764
Chunk: 109

Company: Crown Reserve Acquisition Corp. I
Filing Date: 2025-07-16
Form: S-1/A
Chunk 109
---
 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 $149,620,000, 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 well as the value of our public and private placement rights. At such valuation, each of our Class A ordinary shares would have 69

an implied value of $7.72 per share upon consummation of our initial business combination, which would be a 22.6% decrease as compared to the initial implied value per public share of $9.97 (the price per unit in this offering, assuming no value to the public Share Rights).

| Public shares                                                                                            |     |   |  15,000,000 |
| Private placement shares underlying the private placement units                                          |     |   |     261,000 |
| Founder shares                                                                                           |     |   |   3,750,000 |
| Public shares underlying the SAP units                                                                   |     |   |     375,000 |
| Total shares                                                                                             |     |   |  19,386,000 |
| Total funds in trust available for initial business combination (less deferred underwriting commissions) |     | $ | 149,700,000 |
| Public shareholders’ investment per Class A ordinary share(1)                                            |     | $ |       10.00 |
| Sponsor’s investment per Class B ordinary share(2)                                                       |     | $ |       0.006 |
| Initial implied value per public share(3)                                                                |     | $ |        9.97 |
| Implied value per share upon consummation of initial business combination(4)