Financial Performance - For the three months ended September 30, 2025, the company reported a net income of $2,339,454, primarily from earnings on investments held in the Trust Account of $2,456,512[105] - From January 7, 2025, through September 30, 2025, the company achieved a net income of $2,896,189, with earnings on investments in the Trust Account totaling $3,324,664[106] Initial Public Offering (IPO) - The company completed its initial public offering on May 27, 2025, raising gross proceeds of $230,000,000 from the sale of 23,000,000 units at $10.00 per unit[108] - Following the IPO, a total of $230,000,000 was placed in the trust account, with transaction costs amounting to $14,320,654[109] - The underwriters received an underwriting discount of $4,600,000 for the IPO, with a deferred fee of up to $9,200,000 payable upon completion of a business combination[118] Trust Account and Cash Management - As of September 30, 2025, the company had cash and investments in the trust account totaling $233,324,664, primarily in U.S. Treasury Bills[111] - The company intends to use substantially all funds in the trust account to complete its business combination, with remaining proceeds allocated for working capital[111] - As of September 30, 2025, the company had cash of $1,154,388 available for identifying and evaluating target businesses[112] Operating Activities - The company incurred net cash used in operating activities of $389,039 from January 7, 2025, through September 30, 2025[110] - The company does not have any long-term debt or capital lease obligations as of September 30, 2025[117]
Cal Redwood Acquisition Corp-A(CRAQ) - 2025 Q3 - Quarterly Report