Crown Reserve (CRAC) enters definitive business combination with Carvix

Crown Reserve Acquisition Corp. I

SPAC merges with Carvix via domestication to Delaware; Carvix management team continues leading combined company.
Carvix stockholders receive 50,000,001 shares at closing and up to 50,000,100 earnout shares tied to EBITDA and revenue targets.
Sponsor may earn up to 3,000,000 additional shares over three years based on annual milestones.
Post-closing board: five members, four nominated by Carvix (including one independent approved by Sponsor) and one by Sponsor.
Conditions include SPAC stockholder approval, effective S-4, Nasdaq listing, and minimum cash; outside date September 30, 2026.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Crown Reserve Acquisition Corp. I entered into Business Combination Agreement with Carvix, Inc. (effective 2026-03-30).

Action: entry
Agreement: merger
Counterparty: Carvix, Inc.
Effective: 2026-03-30

Exact text from the filing

On March 30, 2026, Crown Reserve Acquisition Corp. I, a Cayman Islands exempted company (“SPAC” or the “Company”), CRAC Merger Sub Inc., a Delaware corporation and a wholly owned direct subsidiary of SPAC (“Merger Sub”), and Carvix, Inc., a Delaware corporation (“Carvix”), entered into a Business Combination Agreement (the “Business Combination Agreement”).

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Crown Reserve Acquisition Corp. I filing history →

Source: SEC EDGAR

accession 0001213900-26-040025

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