Crown Reserve Acquisition Corp. I Announces the Closing of $172,500,000 Initial Public Offering

Rhea-AI Summary

Crown Reserve Acquisition Corp. I (Nasdaq: CRACU) closed its initial public offering on Nov 10, 2025, issuing 17,250,000 units at $10.00 per unit (including a full 2,250,000-unit over-allotment) for gross proceeds of $172,500,000. Each unit comprises one Class A ordinary share, one-half warrant, and one Share Right to receive one-fifth of a share upon a business combination.

An amount equal to $10.00 per unit was deposited into a trust account. Units began trading on Nasdaq on Nov 7, 2025 under CRACU; separate trading of components is expected under CRAC / CRACW / CRACR. The company is a blank check vehicle targeting acquisitions in pharma, medical technology, medical equipment, and healthcare IT. Management includes Prashant Patel (CEO) and Eric Sherb (CFO).

Positive

• Gross proceeds of $172,500,000
• Full exercise of 2,250,000-unit over-allotment
• Trust deposit of $10.00 per unit protecting investor funds

Negative

• Company is a blank check vehicle with no completed business combination
• No assurance a business combination will be completed on described terms

Insights

SPAC financing analyst

Blank‑check vehicle closed a fully‑subscribed IPO raising $172,500,000, providing capital to seek an acquisition.

The company sold 17,250,000 units at $10.00 each, including a full over‑allotment, and deposited $10.00 per unit into a trust as required for such vehicles. The securities began trading on Nov 7, 2025, and the issuer intends separate listings for Class A shares, warrants, and rights.

This structure creates a dedicated acquisition vehicle with cash locked in trust and warrants providing potential upside post‑combination; management listed includes Prashant Patel and Eric Sherb. Key dependencies include successful identification and execution of an initial business combination within the company’s stated focus areas and compliance with the registration and trust rules disclosed.

Watch for the timing and terms of an announced target, any shareholder vote on a proposed combination, and the life‑span or extension mechanics referenced in the registration materials; these milestones typically unfold over the SPAC’s search period (check filings after Nov 10, 2025 for formal deadlines).

Grand Cayman, Cayman Islands, Nov. 10, 2025 (GLOBE NEWSWIRE) -- Crown Reserve Acquisition Corp. I (the “Company”) (Nasdaq: CRACU) announced today the closing of its initial public offering of 17,250,000 units at a price of $10.00 per unit, including 2,250,000 units sold pursuant to the full exercise of the underwriter’s over-allotment option. The offering resulted in gross proceeds of $172,500,000. The units began trading on the Nasdaq Global Market (“Nasdaq”) on November 7, 2025, under the ticker symbol “CRACU.” Each unit consists of one Class A ordinary share, one-half of one redeemable warrant, and one right (the “Share Right”) to receive one-fifth (1/5) of one Class A ordinary share upon the consummation of an initial business combination. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment. Only whole warrants are exercisable. No fractional shares will be issued in connection with the exchange of Share Rights. An amount equal to $10.00 per unit was deposited into a trust account upon the closing of the offering. Once the securities comprising the units begin separate trading, we expect that the Class A ordinary shares, warrants, and Share Rights will be listed on the Nasdaq under the symbols “CRAC”, “CRACW”, and “CRACR”, 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 or entities. The Company may pursue an acquisition opportunity in any business or industry or at any stage of its corporate evolution but will focus on industries where the Company has core competencies and experiences, such as pharma, medical technology and medical equipment, and healthcare IT industries.

The Company’s management team is led by Prashant Patel, its Chief Executive Officer and Chairman, and Eric Sherb, its Chief Financial Officer and Director. In addition, the Board includes Michael Peterson, Donald G. Fell, Avinash Wadhwani, and Mayur Doshi.

Polaris Advisory Partners, a division of Kingswood Capital Partners LLC, is acting as the sole book-running manager for the offering. In addition, Thunder Rock Capital, LLC (https://www.thunderrockcapital.com), a division of Finalis Securities LLC, acted as an advisor to the Company’s management team.

A registration statement relating to the securities has been filed with the U.S. Securities and Exchange Commission (“SEC”) and became effective on September 26, 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 an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds will be used as indicated.

Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the “Risk Factors” section of the Company’s registration statement and prospectus for the Company’s initial public offering filed with the SEC. Copies of these documents are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact:

Crown Reserve Acquisition Corp. I
Eric Sherb
Chief Financial Officer

Conyers Trust Company (Cayman) Limited
PO Box 2681
Grand Cayman KY1-1111,
Cayman Islands
Tel: (813) 501-3533

FAQ

What size was Crown Reserve Acquisition Corp. I's IPO (CRACU) closed on Nov 10, 2025?

The IPO sold 17,250,000 units at $10.00 per unit for gross proceeds of $172,500,000.

What does each CRACU unit include and how do the warrants work?

Each unit includes one Class A share, one-half warrant (two halves = one whole warrant) and one Share Right equal to 1/5 of a share; each whole warrant exercisable to buy one share at $11.50.

When did CRACU begin trading and what are the expected separate tickers for components?

Units began trading on Nasdaq on Nov 7, 2025 under CRACU; separate trading expected under CRAC (shares), CRACW (warrants) and CRACR (rights).

How are investor funds secured following the CRACU offering?

An amount equal to $10.00 per unit was deposited into a trust account pending a business combination.

What industries will CRACU target for its initial business combination?

Management indicated focus on pharma, medical technology, medical equipment and healthcare IT industries.