Crane Harbor Acquisition Corp-A(CHAC) - 2025 Q3 - Quarterly Report

Financial Performance - For the three months ended September 30, 2025, the company reported a net income of $1,918,512, primarily from interest earned on cash and investments held in the Trust Account of $2,425,410, after deducting formation and administrative costs of $506,898[109]. - Cash used in operating activities from January 2, 2025, through September 30, 2025, amounted to $982,916, with net income of $3,077,648 being affected by interest earned on investments of $3,843,371[112]. - The company has not generated any operating revenues to date and does not expect to do so until after completing a Business Combination[108]. Trust Account and Investments - As of September 30, 2025, the company had cash and investments in the Trust Account totaling $223,843,371, which includes approximately $3,843,371 of interest earnings[113]. - The company intends to use substantially all funds in the Trust Account to complete its Business Combination, with remaining proceeds allocated for working capital and growth strategies[113]. Initial Public Offering - The company 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[110]. - The company incurred $13,786,773 in costs related to the Initial Public Offering, which included a cash underwriting fee of $4,400,000 and a deferred underwriting fee of $8,800,000[111]. Debt and Capital Needs - The company has no long-term debt or off-balance sheet arrangements as of September 30, 2025, and has a contractual obligation to pay $20,000 monthly for office space and administrative support[118][119]. - The company may need to raise additional capital through loans or investments to meet working capital needs, which raises substantial doubt about its ability to continue as a going concern[116][117]. - Up to $2,500,000 of loans from the Sponsor or affiliates may be convertible into units at a price of $10.00 per unit, at the lender's option[115].