---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-26-038670"
form_type: "8-K"
ticker: "CRAC"
cik: "0002070887"
company_name: "Crown Reserve Acquisition Corp. I"
filed_at: "2026-04-02T23:59:59+00:00"
generated_at: "2026-05-15T07:53:50.169713+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Crown Reserve SPAC announces $1.0B business combination with Carvix

## Summary
- 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.

## SEC filing metadata
- accession: 0001213900-26-038670
- form_type: 8-K
- ticker: CRAC
- cik: 0002070887
- company_name: Crown Reserve Acquisition Corp. I
- filed_at: 2026-04-02T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2070887/000121390026038670/0001213900-26-038670-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2070887/000121390026038670/ea0284699-8k_crown.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-26-038670
- JSON: https://secwatch.observer/filing/0001213900-26-038670.json
- Plain text: https://secwatch.observer/filing/0001213900-26-038670.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.