Cal Redwood Acquisition Corp.
CRAQ·NASDAQ·Industrials·CIK 0002058359
Cal Redwood Acquisition Corp. is a blank check company incorporated on January 7, 2025, as a Cayman Islands exempted company. Its primary purpose is to complete a business combination, such as a merger, share exchange, asset acquisition, share purchase, or reorganization, with one or more businesses or entities. While the company may consider a business combination in any sector, it intends to concentrate its efforts on businesses within the technology, media, and telecommunications (TMT) sector, as well as sectors undergoing transformation through technological disruption. The company believes its management team's operational and investment expertise will provide a competitive advantage in these areas. As of now, Cal Redwood Acquisition Corp. has not selected any specific target business. The company has not generated any revenues to date and does not anticipate generating operating revenues until at least the completion of its initial business combination. On May 27, 2025, the company completed its initial public offering of 23,000,000 units at $10.00 per unit, which included the full exercise of the underwriters' over-allotment option. Each unit consisted of one Class A ordinary share and one right, entitling the holder to receive one-tenth of one Class A ordinary share upon the completion of the initial business combination, resulting in gross proceeds of $230,000,000. Concurrently with the IPO closing, the company sold 660,000 private placement units at $10.00 per unit to the sponsor, Cohen, and Seaport, generating gross proceeds of $6,600,000.