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Crown Reserve Acquisition Corp. I (Nasdaq: CRACR) and Carvix agreed to a definitive business combination that values Carvix at an implied enterprise value of $1.0 billion including earnouts.
The deal contemplates an all-stock merger, a targeted $80.0 million PIPE, a committed $20.0 million equity line, a minimum post-redemption cash requirement of $10.0 million, and up to 50,000,100 earnout shares over four years. The combined company expects to list on Nasdaq; closing is subject to customary approvals and a Sept 30, 2026 outside date.