Crane Harbor Acquisition Corp. Completes $220 Million Initial Public Offering
Crane Harbor Acquisition has successfully completed its $220 million Initial Public Offering (IPO) on the Nasdaq Global Market. The company sold 22 million units at $10.00 per unit, including 2 million units from the underwriters' over-allotment option.
Each unit comprises:
- One Class A ordinary share
- One right to receive 1/10 of a Class A ordinary share upon business combination
The units trade under symbol CHACU, with separate trading planned for:
- Class A shares (CHAC)
- Rights (CHACR)
As a blank check company, Crane Harbor aims to pursue mergers or acquisitions, focusing on technology, real assets, and energy sectors. The management team includes Jonathan Z. Cohen as Board Chairman, Edward E. Cohen as Vice Chairman, and William Fradin as CEO. Cohen & Company Capital Markets led the offering as the sole book-running manager.
Crane Harbor Acquisition ha completato con successo la sua Offerta Pubblica Iniziale (IPO) da 220 milioni di dollari sul Nasdaq Global Market. La società ha venduto 22 milioni di unità a 10,00 dollari per unità, inclusi 2 milioni di unità derivanti dall'opzione di sovrallocazione degli underwriter.
Ciascuna unità comprende:
- Una azione ordinaria di Classe A
- Un diritto a ricevere 1/10 di azione ordinaria di Classe A al momento della combinazione aziendale
Le unità sono quotate con il simbolo CHACU, con una futura negoziazione separata prevista per:
- Azioni di Classe A (CHAC)
- Diritti (CHACR)
In quanto società blank check, Crane Harbor punta a realizzare fusioni o acquisizioni, concentrandosi sui settori della tecnologia, beni reali ed energia. Il team di gestione comprende Jonathan Z. Cohen come Presidente del Consiglio, Edward E. Cohen come Vicepresidente e William Fradin come CEO. Cohen & Company Capital Markets ha guidato l'offerta come unico book-running manager.
Crane Harbor Acquisition ha completado con éxito su Oferta Pública Inicial (OPI) de 220 millones de dólares en el Nasdaq Global Market. La compañía vendió 22 millones de unidades a 10,00 dólares por unidad, incluyendo 2 millones de unidades provenientes de la opción de sobresuscripción de los suscriptores.
Cada unidad consta de:
- Una acción ordinaria Clase A
- Un derecho a recibir 1/10 de una acción ordinaria Clase A tras la combinación empresarial
Las unidades cotizan bajo el símbolo CHACU, con planes para una negociación separada de:
- Acciones Clase A (CHAC)
- Derechos (CHACR)
Como compañía de cheque en blanco, Crane Harbor busca llevar a cabo fusiones o adquisiciones, enfocándose en los sectores de tecnología, activos reales y energía. El equipo directivo incluye a Jonathan Z. Cohen como Presidente del Consejo, Edward E. Cohen como Vicepresidente y William Fradin como CEO. Cohen & Company Capital Markets lideró la oferta como único gestor principal del libro de órdenes.
Crane Harbor Acquisition는 나스닥 글로벌 마켓에서 2억 2천만 달러 규모의 기업 공개(IPO)를 성공적으로 완료했습니다. 회사는 단위당 10.00달러에 2,200만 단위를 판매했으며, 이 중 200만 단위는 인수인들의 초과배정 옵션에서 나왔습니다.
각 단위는 다음으로 구성됩니다:
- 클래스 A 보통주 1주
- 사업 결합 시 클래스 A 보통주 1/10주를 받을 권리 1개
단위는 CHACU 심볼로 거래되며, 별도의 거래는 다음과 같이 계획되어 있습니다:
- 클래스 A 주식 (CHAC)
- 권리 (CHACR)
블랭크 체크 회사인 Crane Harbor는 기술, 실물 자산, 에너지 분야에 중점을 두고 인수합병을 추진할 계획입니다. 경영진에는 이사회 의장인 Jonathan Z. Cohen, 부회장 Edward E. Cohen, CEO William Fradin이 포함되어 있습니다. Cohen & Company Capital Markets가 단독 주관사로서 이번 공모를 이끌었습니다.
Crane Harbor Acquisition a réussi son offre publique initiale (IPO) de 220 millions de dollars sur le Nasdaq Global Market. La société a vendu 22 millions d'unités à 10,00 dollars l'unité, incluant 2 millions d'unités issues de l'option de surallocation des souscripteurs.
Chaque unité comprend :
- Une action ordinaire de classe A
- Un droit à recevoir 1/10 d'une action ordinaire de classe A lors de la fusion d'entreprise
Les unités sont cotées sous le symbole CHACU, avec une négociation distincte prévue pour :
- Actions de classe A (CHAC)
- Droits (CHACR)
En tant que société à chèque en blanc, Crane Harbor vise à réaliser des fusions ou acquisitions, en se concentrant sur les secteurs de la technologie, des actifs réels et de l'énergie. L'équipe de direction comprend Jonathan Z. Cohen en tant que président du conseil, Edward E. Cohen en tant que vice-président, et William Fradin en tant que PDG. Cohen & Company Capital Markets a dirigé l'offre en tant que gestionnaire unique du livre d'ordres.
Crane Harbor Acquisition hat erfolgreich seinen 220 Millionen US-Dollar Börsengang (IPO) am Nasdaq Global Market abgeschlossen. Das Unternehmen verkaufte 22 Millionen Einheiten zu 10,00 US-Dollar pro Einheit, darunter 2 Millionen Einheiten aus der Mehrzuteilungsoption der Underwriter.
Jede Einheit besteht aus:
- Eine Stammaktie der Klasse A
- Ein Recht auf den Erhalt von 1/10 einer Klasse A Stammaktie bei einer Unternehmenszusammenschluss
Die Einheiten werden unter dem Symbol CHACU gehandelt, mit geplanter separater Notierung für:
- Klasse A Aktien (CHAC)
- Rechte (CHACR)
Als Blankoscheck-Gesellschaft strebt Crane Harbor Fusionen oder Übernahmen an, mit Fokus auf die Bereiche Technologie, Sachwerte und Energie. Das Management-Team umfasst Jonathan Z. Cohen als Vorstandsvorsitzenden, Edward E. Cohen als stellvertretenden Vorsitzenden und William Fradin als CEO. Cohen & Company Capital Markets leitete das Angebot als alleiniger Book-Running-Manager.
- Successfully raised $220 million in IPO proceeds at $10.00 per unit
- Full exercise of over-allotment option by underwriters for additional 2 million units
- 100% of IPO proceeds ($220M) placed in trust account for shareholders' benefit
- Trading commenced on Nasdaq Global Market
- Experienced management team with industry veterans including Jonathan Z. Cohen and Edward E. Cohen
- Broad acquisition strategy focusing on technology, real assets, and energy sectors
- No specific target company identified yet for business combination
- SPAC structure inherently carries execution risk for finding suitable merger target
- Shareholders face potential dilution from rights conversion (1/10 share per right)
Insights
Crane Harbor Acquisition Corp. completes $220M SPAC IPO, targeting tech, real assets, and energy sectors with standard unit structure.
Crane Harbor Acquisition Corp. has successfully completed its $220 million initial public offering, selling 22 million units at
Each unit contains one Class A ordinary share and one right to receive
The company has specified three target sectors: technology, real assets, and energy. This relatively broad focus gives the management team flexibility in identifying acquisition targets. The SPAC is led by industry veterans including Jonathan Z. Cohen as Chairman and Edward E. Cohen as Vice Chairman, with William Fradin serving as CEO.
Cohen & Company Capital Markets acted as the lead book-running manager, with JonesTrading providing additional support as joint book-runner. The SPAC's units now trade under "CHACU", with the Class A shares and rights eventually expected to trade separately under "CHAC" and "CHACR" respectively.
PHILADELPHIA, PA, April 28, 2025 (GLOBE NEWSWIRE) -- Crane Harbor Acquisition Corp. (NASDAQ:CHACU) (the “Company”) today announced the closing of its initial public offering of 22,000,000 units, which includes 2,000,000 units issued pursuant to the exercise by the underwriters of their over-allotment option. The offering was priced at
The Company’s units began trading on the Nasdaq Global Market (“Nasdaq”) on April 25, 2025 under the ticker symbol “CHACU.” Each unit consists of one Class A ordinary share of the Company and one right to receive one tenth (1/10) of a Class A ordinary share upon the consummation of the Company’s initial business combination. Once the securities constituting the units begin separate trading, the Class A ordinary shares and rights are expected to be listed on Nasdaq under the symbols “CHAC” and “CHACR,” respectively.
The Company is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an acquisition opportunity in any business or industry or at any stage of its corporate evolution. The Company’s primary focus, however, will be to identify companies in the technology, real assets, and energy sectors. The Company’s management team is led by Jonathan Z. Cohen, its Chairman of the Board of Directors, Edward E. Cohen, Vice Chairman, William Fradin, Chief Executive Officer, Tom Elliott, Chief Financial Officer, and Jeffrey Brotman, Chief Legal Officer and Chief Operating Officer.
Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC, acted as the sole lead book-running manager for the offering. JonesTrading Institutional Services LLC acted as joint book-running manager. Stevens & Lee, P.C. served as legal counsel to the Company, and Kirkland & Ellis LLP served as legal counsel to the underwriters.
A registration statement relating to the securities was declared effective by the U.S. Securities and Exchange Commission on April 24, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Contact Information:
Crane Harbor Acquisition Corp.
craneharbor@hepcollc.com
FAQ
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