secwatch.observer — SEC 8-K summary
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Issuer:     Crown Reserve Acquisition Corp. I (CRAC)
CIK:        0002070887
Form:       8-K
Filed at:   2026-04-03T23:59:59+00:00
Accession:  0001213900-26-040025
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Crown Reserve (CRAC) enters definitive business combination with Carvix
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2070887/000121390026040025/0001213900-26-040025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2070887/000121390026040025/ea0285115-8k425_crown1.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-040025

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