Crown Reserve Acquisition Corp. I (CRAC) details Q2 2026 results, Carvix merger terms and going concern
Crown Reserve Acquisition Corp. I (CRAC) reported Q2 2026 net income of $1.35M and $1.09M for six months ended June 30, 2026, driven by trust dividends, partly offset by warrant-liability remeasurement losses and fees. It holds $176.48M in a U.S. Treasury trust and has no cash outside it. CRAC agreed to merge with Carvix, with a Feb. 10, 2027 deadline, and cites going-concern doubt and an unremediated material weakness.