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PHILADELPHIA, April 24, 2025--(BUSINESS WIRE)--Crane Harbor Acquisition Corp. (NASDAQ:CHACU) (the "Company") has announced today the pricing of its initial public offering, which will consist of 20,000,000 units priced at $10.00 each. The units will be listed on the Nasdaq Global Market under the symbol "CHACU" and are set to start trading on April 25, 2025. Each unit offered includes one Class A ordinary share of the Company as well as a right to obtain one tenth (1/10) of a Class A ordinary share following the completion of the Company’s initial business combination. Pending customary closing conditions, the offering is expected to close on or about Monday, April 28, 2025. When the securities that make up the units start trading separately, the Class A ordinary shares and the rights are expected to be listed on NASDAQ under the symbols "CHAC" and "CHACR," respectively.
The Company is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an acquisition opportunity in any business or industry or at any stage of its corporate evolution. The Company’s primary focus, however, will be to identify companies in the technology, real assets, and energy sectors. The Company’s management team is led by Jonathan Z. Cohen, its Chairman of the Board of Directors, Edward E. Cohen, Vice Chairman, William Fradin, Chief Executive Officer, Tom Elliott, Chief Financial Officer, and Jeffrey Brotman, Chief Legal Officer and Chief Operating Officer.
"We are thrilled to partner with Cohen & Company Capital Markets and our world-class board of directors to bring another high-quality business to the public markets," said Bill Fradin, Chief Executive Officer of Crane Harbor Acquisition Corp. "We look forward to identifying a compelling opportunity that can create long-term value for our shareholders."
Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC, acted as the sole book-running manager for the offering. JonesTrading Institutional Services LLC acted as joint book-running manager. Stevens & Lee, P.C. served as legal counsel to the Company, and Kirkland & Ellis LLP served as legal counsel to the underwriters. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,000,000 units at the initial public offering price to cover over-allotments, if any.