Crane Harbor Acquisition Corp Unit(CHACU) - 2025 Q1 - Quarterly Report

Financial Position - As of March 31, 2025, Crane Harbor Acquisition Corp. reported total assets of $290,282, with total liabilities amounting to $325,716, resulting in a shareholder's deficit of $35,434[12][13]. - As of March 31, 2025, the Company had $14,599 in cash and a working capital deficit of $307,373[46]. - The Company had no long-term debt or off-balance sheet arrangements as of March 31, 2025[117]. - The Company held cash of $14,599 as of March 31, 2025[98]. Operating Results - The company incurred a net loss of $60,434 for the period from January 2, 2025, through March 31, 2025, with a basic and diluted net loss per share of Class B ordinary shares at $(0.01)[16]. - The Company reported a net loss of $60,434, primarily due to formation and general administrative costs[109]. - The Company has not generated any revenues to date and does not expect to do so until after the completion of its Business Combination[108]. Initial Public Offering (IPO) - Crane Harbor Acquisition Corp. completed its Initial Public Offering on April 28, 2025, raising gross proceeds of $220,000,000 from the sale of 22,000,000 units at $10.00 per unit[27]. - The Company consummated the Initial Public Offering of 22,000,000 Units at $10.00 per Unit, generating gross proceeds of $220,000,000[101]. - The Company also sold 640,000 private placement units at $10.00 per unit, generating additional gross proceeds of $6,400,000[28]. - The Company also sold 640,000 Private Placement Units at $10.00 per Unit, generating gross proceeds of $6,400,000[131]. - The underwriters received an underwriting discount of $4,400,000 at the closing of the Initial Public Offering[83]. - The total transaction costs for the IPO amounted to $13,786,773, which included a cash underwriting fee of $4,400,000 and a deferred underwriting fee of $8,800,000[132]. - Total transaction costs related to the Initial Public Offering totaled $13,786,773, which included a cash underwriting fee of $4,400,000 and a deferred underwriting fee of $8,800,000[29]. Trust Account and Shareholder Redemption - Crane Harbor Acquisition Corp. intends to apply substantially all net proceeds from the Initial Public Offering towards consummating a business combination with one or more operating businesses[30]. - The company has established a Trust Account to hold the net proceeds from the Initial Public Offering, which will be invested in U.S. government securities until the completion of a business combination[31]. - Public shareholders will have the opportunity to redeem their shares upon the completion of a business combination, regardless of their voting stance[33]. - The Company will redeem Public Shares at a per-share price equal to the aggregate amount in the Trust Account, including interest, if it fails to complete a Business Combination within the completion window[40]. - Each holder of Public Shares will receive a pro rata portion of the Trust Account funds, which may initially be valued at $10.00 per share[42]. - The Initial Shareholders will waive their liquidation rights regarding Founder Shares and private placement shares if the Company does not complete a Business Combination[42]. Future Funding and Business Combination - The Company may need to raise additional funds to complete its Business Combination or to cover redemptions of Public Shares[116]. - The Company does not anticipate needing to raise additional funds for operating expenses prior to the Initial Business Combination[47]. - The Company intends to use substantially all funds in the Trust Account to complete its Business Combination[113]. Governance and Compliance - The Chief Operating Decision Maker (CODM) is the Chief Financial Officer, who evaluates performance based on net loss and total assets[97]. - The Company is classified as an "emerging growth company" and may take advantage of certain exemptions from reporting requirements[48]. - The Company’s financial statements are prepared in accordance with GAAP and include all necessary adjustments for fair presentation[44]. - The Company’s fair value measurements approximate carrying amounts due to their short-term nature[55]. - There were no changes in internal control over financial reporting that materially affected the company during the fiscal quarter[125]. - The company did not have any critical accounting estimates to disclose as of March 31, 2025[121]. - The company’s disclosure controls and procedures were deemed effective as of the end of the quarterly period ended March 31, 2025[124]. - There have been no material changes to the risk factors disclosed in the final prospectus for the IPO[128]. Geopolitical Risks - The geopolitical instability from the Russia-Ukraine conflict and the Israel-Hamas conflict may adversely affect the Company's search for an initial Business Combination[86].