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Initial public offerings

Cal Redwood Acquisition Corp. Announces Pricing of Initial Public Offering

Strategic Insights

— 1 min read

Cal Redwood Acquisition Corp. (the "Company") has priced its initial public offering of 20,000,000 units at a price of $10.00 per unit. The units are expected to be listed on the Nasdaq Global Market under the ticker symbol "CRAQU" starting May 23, 2025. The offering is expected to close on May 27, 2025, subject to customary closing conditions. The Company plans to pursue businesses in the technology, media, and telecommunications (TMT) sector, as well as sectors being transformed via technology disruption.

Key Takeaways:

  • The Company has priced its initial public offering of 20,000,000 units at a price of $10.00 per unit.
  • The units are expected to be listed on the Nasdaq Global Market under the ticker symbol "CRAQU" starting May 23, 2025.
  • The offering is expected to close on May 27, 2025, subject to customary closing conditions.
  • Cohen & Company Capital Markets is acting as the lead book-running manager, and Seaport Global Securities is acting as joint book-runner.
  • The Company has granted the underwriters a 45-day option to purchase up to 3,000,000 additional units at the initial public offering price.
  • The public offering is being made only by means of a prospectus, which will be available at Cohen & Company Capital Markets.
  • A registration statement relating to the securities became effective on May 22, 2025.

Statistics:

  • 20,000,000 units are being offered at $10.00 per unit.
  • The Company expects to list its Class A ordinary shares and rights on the Nasdaq Global Market under the symbols "CRA" and "CRAQR," respectively.
  • 3,000,000 units may be purchased by the underwriters as part of the over-allotment option.
  • The public offering is expected to generate $200,000,000 in proceeds.
  • The Company plans to use the net proceeds from the offering to pursue business combinations with companies in the TMT sector and sectors being transformed via technology disruption.

Sources:

  • GlobeNewswire (MIL-OSI) Menlo Park, CA, May 22, 2025.
  • Cal Redwood Acquisition Corp. press release (GLOBE NEWSWIRE), accessed on May 22, 2025.
  • U.S. Securities and Exchange Commission (SEC) website, at www.sec.gov.

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