secwatch.observer — SEC 8-K summary
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Issuer:     Crown Reserve Acquisition Corp. I (CRAC)
CIK:        0002070887
Form:       8-K
Filed at:   2026-04-02T23:59:59+00:00
Accession:  0001213900-26-038670
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Crown Reserve SPAC announces $1.0B business combination with Carvix
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2070887/000121390026038670/0001213900-26-038670-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2070887/000121390026038670/ea0284699-8k_crown.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-038670

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer