UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended September 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Cayman Islands N/A (State or other jurisdiction of incorporation or organization) Conyers Trust Company (Cayman) Limited PO Box 2681 Grand Cayman KY1-1111, Cayman ...

Financial Performance - As of June 30, 2025, the company reported a net income of $53, consisting solely of interest income[134]. - The company completed its Initial Public Offering on November 10, 2025, raising gross proceeds of $172,000,000 from the sale of 17,250,000 Units at $10.00 per Unit[136]. - Following the IPO, a total of $172,500,000 was placed in the Trust Account, with transaction costs amounting to $2,079,000[137]. Liquidity and Funding - The company has liquidity needs satisfied through $25,000 from founder shares and up to $5,000,000 in loans from the sponsor, with $171,148 borrowed under an unsecured promissory note as of June 30, 2025[135][148]. - The company intends to use substantially all funds in the trust account to complete its initial business combination, with any remaining proceeds used for working capital[138]. - The company does not anticipate needing to raise additional funds to meet operating expenditures prior to the initial business combination[145]. - Prior to the initial business combination, the company will have $695,000 available outside the trust account for operational expenses and due diligence[139]. Expenses and Costs - The company expects to incur approximately $180,000 for legal, accounting, and due diligence expenses related to business combinations, along with $150,000 for directors and officers insurance[141]. - The company does not have any long-term debt or off-balance sheet arrangements as of June 30, 2025[146]. Accounting Policies and Standards - The company has identified critical accounting policies, including the treatment of ordinary shares subject to possible redemption as temporary equity[154]. - The FASB issued ASU 2023-07, effective for fiscal years beginning after December 15, 2023, requiring significant segment expense disclosures[156]. - Public entities must disclose the title and position of the chief operating decision maker (CODM) and how they use reported segment profit or loss measures[156]. - Companies with a single reportable segment must provide all disclosures required by ASU 2023-07 and existing segment disclosures in Topic 280[156]. - Management believes that recently issued accounting standards will not materially affect the condensed financial statements[157]. - The company is classified as a smaller reporting company and is not required to provide certain market risk disclosures[158].

Company Overview - Crown Reserve Acquisition Corp. I is a blank check company formed to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities [2] - The company may pursue acquisition opportunities across various industries but will focus on sectors where it has core competencies, including pharma, medical technology, medical equipment, and healthcare IT [2] Initial Public Offering (IPO) Details - The company closed its initial public offering of 17,250,000 units at a price of $10.00 per unit, resulting in gross proceeds of $172,500,000 [1] - The units began trading on the Nasdaq Global Market under the ticker symbol "CRACU" on November 7, 2025 [1] - Each unit consists of one Class A ordinary share, one-half of one redeemable warrant, and one right to receive one-fifth of one Class A ordinary share upon the consummation of an initial business combination [1] - An amount equal to $10.00 per unit was deposited into a trust account upon the closing of the offering [1] Management Team - The management team is led by Prashant Patel, Chief Executive Officer and Chairman, and Eric Sherb, Chief Financial Officer and Director [3] - The Board includes members Michael Peterson, Donald G. Fell, Avinash Wadhwani, and Mayur Doshi [3] Advisory and Management Support - Polaris Advisory Partners, a division of Kingswood Capital Partners LLC, acted as the sole book-running manager for the offering [4] - Thunder Rock Capital, LLC, a division of Finalis Securities LLC, served as an advisor to the company's management team [4] Regulatory Information - A registration statement relating to the securities was filed with the U.S. Securities and Exchange Commission (SEC) and became effective on September 26, 2025 [5]