Company: CRAC
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-111020
Chunk: 29

Company: Crown Reserve Acquisition Corp. I
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 29
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 of a Class A ordinary share. Each Class C Unit consists of one Class A ordinary share and one right to receive one-fifth of a Class A ordinary share. Further, the revised terms also updated the lock-up periods of the private placement units and component units: the Class A ordinary shares underlying the Class B-2 Units are subject to a lock-up until the business combination; the Class A ordinary shares underlying the Class C Units are subject to a lock-up until 3 months after the business combination; and the private placement units are subject to a lock-up until the business combination.  Refer to Notes 1, 3, 4, 5 and 7 for further detail. Initial Public Offering  The registration statement for the Company’s Initial Public Offering was declared effective on September 26, 2025. On November 10, 2025, the Company consummated its Initial Public Offering of 17,250,000 Units, including the purchase by the underwriters of 2,250,000 additional Units at the offering price, reflecting the exercise of their option to purchase additional Units to cover over-allotments. The Units were sold at a price of $10.00 per Unit, generating gross proceeds to the Company of $172,500,000.   Simultaneously with the consummation of the Initial Public Offering and exercise of the over-allotment option, the Company consummated the Private Placement of an aggregate of 375,000 Private Placement Units to the Sponsor at a price of $8.00 per Private Placement Unit, generating total proceeds of $3,000,000.   Transaction costs amounted to $2,079,000, consisting of $1,725,000 cash underwriting fee, and $354,000 of other offering costs.   On November 6, 2025, the Company adjusted the balance drawn on the promissory note totaling $253,748, which was adjusted against the proceeds from the Private Placement not held in the Trust Account. 

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Item 2. Management’s
Discussion and Analysis of Financial Condition and Results of Operations
 
References in this report
(the “Quarterly Report”) to “we,” “us” or the “Company” refer to Crown Reserve Acquisition
Corp. I References to our “management” or our “management team” refer to our officers and directors, and references
to the “Sponsor” refer to Crown Acquisition Sponsor, LLC. The following discussion and analysis of the Company’s