Crane Harbor Acquisition Corp Unit(CHACU) - 2025 Q3 - Quarterly Report
Crane Harbor Acquisition Corp UnitCrane Harbor Acquisition Corp Unit(US:CHACU)2025-11-12 21:06

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, was $982,916, with net income of $3,077,648 impacted 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 monthly obligation of $20,000 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]. Business Combination Plans - The company may incur significant costs in pursuing acquisition plans and cannot assure the success of completing a Business Combination [107].