Crane Harbor Acquisition II Stock Price, News & Analysis
Company Description
Crane Harbor Acquisition Corp. II (NASDAQ: CRAN) is a blank check company formed to pursue a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. According to its public disclosures, the company may evaluate opportunities in any business or industry and at any stage of corporate development, while maintaining a primary focus on potential targets in the technology, real assets, and energy sectors.
The company’s securities are associated with an initial public offering of units on the Nasdaq Global Market. Each unit consists of one Class A ordinary share and one right to receive one fifteenth (1/15) of a Class A ordinary share upon the consummation of the company’s initial business combination. Once the securities that make up the units begin trading separately, the Class A ordinary shares are expected to trade under the symbol CRAN and the rights under the symbol CRANR on Nasdaq.
As a special purpose acquisition company, Crane Harbor Acquisition Corp. II does not describe an existing operating business in its disclosures. Instead, it has been organized for the specific purpose of identifying and completing a business combination. The company’s stated flexibility to pursue an acquisition opportunity in any sector, combined with a focus on technology, real assets, and energy, outlines the broad range of potential targets it may evaluate.
The company has highlighted that it may consider businesses at different stages of their corporate evolution. This means potential targets could range from more established enterprises to earlier-stage companies, provided they meet the criteria and objectives set out in Crane Harbor Acquisition Corp. II’s governing documents and offering materials.
Crane Harbor Acquisition Corp. II’s initial public offering involved the sale of units at a fixed price per unit, with gross proceeds placed into a trust account for the benefit of its public shareholders. The trust account structure is a standard feature of blank check companies and is referenced in the company’s public announcements related to its offering.
Business purpose and focus
Business purpose: Crane Harbor Acquisition Corp. II states that it was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. This purpose defines the company’s role as a vehicle to bring a private business or businesses into the public markets through a combination transaction.
Sector focus: While the company may pursue an acquisition opportunity in any business or industry, its primary focus is on identifying companies in the technology, real assets, and energy sectors. This focus is explicitly described in the company’s public communications regarding its initial public offering.
Capital structure and units
In connection with its initial public offering on the Nasdaq Global Market, Crane Harbor Acquisition Corp. II issued units that are identified by the symbol CRANU. Each unit consists of one Class A ordinary share and one right to receive one fifteenth (1/15) of a Class A ordinary share upon the consummation of the company’s initial business combination. The company has stated that, after the units begin separate trading, the Class A ordinary shares and rights are expected to be listed on Nasdaq under the symbols CRAN and CRANR, respectively.
The company has also disclosed that the proceeds from the initial public offering, together with proceeds from a simultaneous private placement of units, were placed into a trust account for the benefit of its public shareholders. This structure is described in the company’s announcements about the pricing and closing of its offering.
Special purpose acquisition company (SPAC) profile
Crane Harbor Acquisition Corp. II describes itself as a blank check company, a term commonly used for entities that raise capital in an initial public offering with the intention of later identifying and completing a business combination. The company’s disclosures emphasize that it may pursue an acquisition opportunity in any business or industry or at any stage of corporate evolution, while giving priority to opportunities in technology, real assets, and energy.
The company’s public statements also reference the effectiveness of a registration statement declared effective by the U.S. Securities and Exchange Commission in connection with its initial public offering of units and the underlying securities. These disclosures clarify that the offering is made only by means of a prospectus and that sales of securities must comply with applicable securities laws and regulations.
Regulatory and listing context
Crane Harbor Acquisition Corp. II’s units are listed on the Nasdaq Global Market under the symbol CRANU. The company has indicated that, once the components of the units trade separately, the Class A ordinary shares and rights are expected to trade under CRAN and CRANR. The company’s announcements also note that a registration statement relating to the units and underlying securities was declared effective by the Securities and Exchange Commission.
In its public communications, Crane Harbor Acquisition Corp. II notes that its press releases about the offering do not themselves constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction where such activity would be unlawful without proper registration or qualification. This language reflects the regulatory framework that applies to its securities offering.
Key characteristics
- Blank check company formed to complete a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.
- Flexibility to pursue an acquisition opportunity in any industry or at any stage of corporate evolution, with a primary focus on technology, real assets, and energy sectors.
- Units listed on the Nasdaq Global Market under the symbol CRANU, each consisting of one Class A ordinary share and one right to receive one fifteenth (1/15) of a Class A ordinary share upon completion of an initial business combination.
- Proceeds from the initial public offering and a simultaneous private placement of units placed into a trust account for the benefit of public shareholders.
- Registration statement relating to the units and underlying securities declared effective by the U.S. Securities and Exchange Commission.
Frequently asked questions about Crane Harbor Acquisition Corp. II
What is Crane Harbor Acquisition Corp. II?
Crane Harbor Acquisition Corp. II is a blank check company formed to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. It does not describe an existing operating business, but rather focuses on identifying and completing a business combination.
What sectors does Crane Harbor Acquisition Corp. II focus on?
The company states that it may pursue an acquisition opportunity in any business or industry or at any stage of corporate evolution. Its primary focus, however, is on identifying companies in the technology, real assets, and energy sectors.
How are Crane Harbor Acquisition Corp. II’s securities structured?
In its initial public offering, the company issued units that each consist of one Class A ordinary share and one right to receive one fifteenth (1/15) of a Class A ordinary share upon the consummation of the company’s initial business combination. These units are listed on the Nasdaq Global Market under the symbol CRANU.
What happens to the rights included in the units?
According to the company’s disclosures, each right included in the units entitles the holder to receive one fifteenth (1/15) of a Class A ordinary share upon the consummation of the company’s initial business combination. The rights are expected to trade separately from the units under the symbol CRANR once separate trading begins.
Where are Crane Harbor Acquisition Corp. II’s units listed?
The company’s units are listed on the Nasdaq Global Market under the ticker symbol CRANU. The company has stated that, when the securities comprising the units begin separate trading, the Class A ordinary shares and rights are expected to be listed on Nasdaq under the symbols CRAN and CRANR, respectively.
What is the purpose of the trust account mentioned by Crane Harbor Acquisition Corp. II?
The company has disclosed that the proceeds from its initial public offering, including the exercise of the underwriters’ over-allotment option, together with proceeds from a simultaneous private placement of units, were placed into a trust account for the benefit of its public shareholders. This structure is typical for blank check companies and is referenced in the company’s offering-related announcements.
Can Crane Harbor Acquisition Corp. II limit its acquisition to a particular stage of company development?
The company states that it may pursue an acquisition opportunity in any business or industry or at any stage of corporate evolution. This means it does not limit itself to only early-stage or only mature companies, as long as the potential target aligns with its objectives and focus areas.