Cal Redwood Acquisition Corp. completes $230M IPO and $6.6M private placement

Cal Redwood Acquisition Corp.

IPO of 23M units at $10 each ($230M gross), including full over-allotment; each unit consists of one Class A share and one right.
Private placement of 660K units at $10 each ($6.6M) to sponsor and underwriters; funds support working capital and merger costs.
Net proceeds of $230M placed in trust account; company has 24 months to complete an initial business combination.
Audited balance sheet shows $231.9M total assets, $230M trust, $521k cash, and $7.8M accumulated deficit from formation costs.

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