Crown Reserve Acquisition Corp. I agrees to merge with Carvix in SPAC deal
On March 30, 2026, Crown Reserve Acquisition Corp. I (CRAC) signed a Business Combination Agreement with Carvix, Inc., a Delaware corporation, under which Carvix would merge into a subsidiary of the SPAC and survive as a wholly owned subsidiary. Carvix stockholders would receive 50,000,001 SPAC common shares at closing, plus up to 50,000,100 earnout shares over four years, which would dilute existing SPAC shareholders.
Key points
- Agreement signed March 30, 2026, with Carvix, Inc.; the SPAC would first domesticate to Delaware.
- Carvix stockholders to receive 50,000,001 shares at the Effective Time, plus up to 50,000,100 earnout shares.
- Earnout split equally between EBITDA targets (first year $10.38 million) and revenue targets (first year $276.8 million), with payment years starting January 1, 2027.
- Either party may terminate if closing has not occurred by September 30, 2026, the Outside Date.
The filing
Written by AI on Nov 9, 2026, 11:46 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 03, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.