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AI brief of an SEC Form 8-K · Cal Redwood Acquisition Corp. (CRAQ)

Cal Redwood closes $230 million IPO and $6.6 million private placement

Neutral Impact 3 of 5 financing Written later

Cal Redwood Acquisition Corp. closed its initial public offering of 23,000,000 units on May 27, 2025, including the full exercise of the underwriters' over-allotment option, for gross proceeds of $230 million. A total of $230 million of the net proceeds from the offering and the private placement was placed in a trust account for public shareholders, and the company must complete an initial business combination within 24 months or redeem the public shares.

Key points

  • 23,000,000 units sold at $10.00 each, including full over-allotment, for gross proceeds of $230 million, closed May 27, 2025
  • 660,000 private placement units sold to the Sponsor, CCM and Seaport at $10.00 each, for gross proceeds of $6.6 million
  • $230 million placed in a trust account, with Efficiency as trustee
  • If no initial business combination is completed within 24 months of the offering closing, public shares are redeemed, subject to shareholder approval exceptions

The filing

CompanyCal Redwood Acquisition Corp. (CRAQ)
Form8-K, current report
Filed with the SECMay 27, 2025, 5:18 PM ET
Accession number0001213900-25-047867

Items reported: 1.01 Material Definitive Agreement3.02 Unregistered Equity Sale5.02 Director / Officer Change8.01 Other Events

Read the filing on SEC.gov ↗

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 May 27, 2025.

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.