Financial Performance - The company had a net income of $599,557 for the three months ended June 30, 2025, primarily from earnings on investments held in the Trust Account of $868,152[103]. - As of June 30, 2025, the company had a net income of $556,735 since inception, with total earnings on investments held in the Trust Account being $868,152[104]. Initial Public Offering - Total gross proceeds from the initial public offering on May 27, 2025, amounted to $230,000,000, including the full exercise of the over-allotment option of 3,000,000 units[106]. - The company incurred total offering costs of $14,320,654, which included $4,600,000 in cash underwriting fees and $9,200,000 in deferred underwriting fees[108]. - The underwriters received an underwriting discount of $4,600,000, with $2,300,000 paid in cash and $2,300,000 used to purchase private placement units[115]. Financial Position - The company does not have any long-term debt or capital lease obligations as of June 30, 2025[114]. - The company has no off-balance sheet arrangements or obligations as of June 30, 2025[113]. Business Strategy - The company intends to use substantially all funds in the trust account to complete its business combination, with remaining proceeds allocated for working capital[109]. - The company expects to incur significant costs in pursuing its acquisition plans, with no assurance of successful business combination completion[101]. - The company does not anticipate needing to raise additional funds for operating expenditures prior to its business combination[112].
Cal Redwood Acquisition Corp-A(CRAQ) - 2025 Q2 - Quarterly Report