Crown Reserve SPAC announces $1.0B business combination with Carvix

Crown Reserve Acquisition Corp. I

Transaction values Carvix at $1.0B implied enterprise value; all-stock at $10.00/share reference price.
Minimum $80M PIPE plus $20M committed equity line; requires $10M cash post-redemptions at close.
Carvix stockholders eligible for up to 50M earnout shares tied to revenue and EBITDA targets through 2030.
Post-closing board: 5 members (4 from Carvix, 1 from Sponsor); Carvix management to continue leading.
Closing conditions include shareholder approvals, SEC S-4 effectiveness, Nasdaq listing; target by Sep 30, 2026.

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