Company: CRAC
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-111020
Chunk: 17

Company: Crown Reserve Acquisition Corp. I
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 17
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500 Class B Ordinary Shares, an aggregate of up to 562,500 shares subject to forfeiture to the Company by the Sponsor for no consideration to the extent that the underwriters’ over-allotment option is not exercised in full or in part, so that the initial shareholders will collectively own 20% of the Company’s issued and outstanding Ordinary Shares after the Initial Public Offering.   On May 12, 2025, the Sponsor purchased 4,312,500 shares of the Company’s Class B Ordinary Shares for an aggregate price of $25,000.   On November 10, 2025, the underwriter fully exercised its over-allotment option. As a result of the full exercise by the underwriter, 562,000 Founder Shares are no longer subject to forfeiture, resulting in the Sponsor holding 4,312,500 Founder Shares as of June 30, 2025.  Holders of Class A Ordinary Shares and Class B Ordinary Shares will vote together as a single class on all other matters submitted to a vote of shareholders except as required by law. 13  CROWN RESERVE ACQUISITION CORP. I NOTES TO CONDENSED FINANCIAL STATEMENTS Note 7 — Shareholder’s Equity (cont.)  The Class B Ordinary Shares will automatically convert into Class A Ordinary Shares at the time of the initial Business Combination on a one-for-one basis, subject to adjustment. In the case that additional Class A Ordinary Shares, or any equity-linked securities, are issued or deemed issued in excess of the amounts offered in the Initial Public Offering (including pursuant to the over-allotment option) and related to or in connection with the closing of the 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 outstanding Class B Ordinary Shares agree to waive such adjustment 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, 20% of the sum of the total number of all Class A ordinary shares issued upon the completion of the Initial Public Offering (irrespective of whether or not such Class A ordinary shares are redeemed in connection with our initial business combination) (including any Class A ordinary shares issued pursuant to the over-allotment option and excluding any Class A ordinary shares underlying any