Cal Redwood Acquisition Corp. Announces Pricing of $200 Million Initial Public Offering
By GlobeNewswire Published on May 23, 2025, 01:54 IST
Menlo Park, CA, May 22, 2025 (GLOBE NEWSWIRE) — Cal Redwood Acquisition Corp. (the 'Company') announced the pricing of its initial public offering of 20,000,000 units at a price of $10.00 per unit on May 22, 2025. The units are expected to be listed for trading on the Nasdaq Global Market under the ticker symbol 'CRAQU' beginning May 23, 2025. Each unit consists of one Class A ordinary share and one right to receive one tenth of a Class A ordinary share upon the consummation of an initial business combination. Once the securities comprising the units begin separate trading, the Company expects that its Class A ordinary shares and rights will be listed on the Nasdaq Global Market under the symbols 'CRA' and 'CRAQR,' respectively. The offering is expected to close on May 27, 2025, subject to customary closing conditions.
The Company was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an initial business combination opportunity in any industry or sector but expects to focus its efforts on businesses in the technology, media and telecommunications (TMT) sector as well as sectors that are being transformed via technology disruption, where the Company believes its management team's operational and investment expertise will provide it with a competitive advantage.
Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC, is acting as 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 to cover over-allotments, if any.
The public offering is being made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained from Cohen & Company Capital Markets, 3 Columbus Circle, 24th Floor, New York, NY 10019, Attention: Prospectus Department, or by email at: [email protected].
A registration statement relating to the securities became effective on May 22, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Forward-Looking Statements
This press release contains statements that constitute 'forward-looking statements,' including with respect to the proposed initial public offering and the anticipated use of the net proceeds from the offering. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the Company will ultimately complete a business combination transaction. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the Company's offering filed with the U.S. Securities and Exchange Commission (the 'SEC'). Copies of these documents are available on the SEC's website, at www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Media Contact
Raymond Dong
Cal Redwood Acquisition Corp.
Email: [email protected]
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
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