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

Cal Redwood Acquisition Corp. completes $230 million IPO of 23 million units

Neutral Impact 3 of 5 financing Written later

Cal Redwood Acquisition Corp., a blank check company, closed its initial public offering of 23,000,000 units at $10.00 per unit on May 27, 2025, including full exercise of the underwriters' over-allotment option, for gross proceeds of $230 million. The company also sold 660,000 private placement units for $6.6 million, and $230 million of the net proceeds was placed in a trust account for public shareholders, to be released only upon a business combination or redemption rights.

Key points

  • IPO of 23,000,000 units at $10.00 per unit closed May 27, 2025, generating $230 million gross proceeds
  • Private placement of 660,000 units at $10.00 per unit generated $6.6 million, sold to the sponsor, Cohen & Company Capital Markets and Seaport Global Securities
  • $230 million placed in trust account; funds not released until a business combination, shareholder-approved amendment redemptions, or redemption if no combination within 24 months
  • Audited balance sheet as of May 27, 2025 shows cash of $521,220 and a deferred underwriting fee payable of $9.2 million

The filing

CompanyCal Redwood Acquisition Corp. (CRAQ)
Form8-K, current report
Filed with the SECJun 2, 2025, 5:07 PM ET
Accession number0001213900-25-050126

Items reported: 8.01 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 June 02, 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.