- Crane Harbor Acquisition Corp. (CHACU, Financial) sets IPO at $200 million, offering 20 million units.
- Units to trade on Nasdaq from April 25, 2025, under the ticker "CHACU".
- Initial focus on technology, real assets, and energy sectors.
Crane Harbor Acquisition Corp. (NASDAQ: CHACU) has announced the pricing of its initial public offering at $200 million. The offering includes 20,000,000 units, each priced at $10.00, which will begin trading on the Nasdaq Global Market on April 25, 2025, under the ticker "CHACU".
Each unit in the offering consists of one Class A ordinary share, plus a right to obtain one-tenth of a Class A ordinary share upon the completion of the Company's initial business combination. The separate trading of the securities, including Class A ordinary shares and rights, is expected to occur on Nasdaq under the ticker symbols "CHAC" and "CHACR" respectively, pending customary closing conditions.
Crane Harbor Acquisition Corp., a blank check company, seeks to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination. While it may consider opportunities across various sectors, its primary focus will be on companies in the technology, real assets, and energy sectors. The Company's management team is led by Chairman Jonathan Z. Cohen and CEO William Fradin.
The IPO is managed by Cohen & Company Capital Markets, with JonesTrading Institutional Services LLC acting as joint book-running manager. The underwriters have been granted a 45-day option to purchase up to an additional 3,000,000 units to cover any over-allotments at the initial public offering price.
Legal counsel for the Company was provided by Stevens & Lee, P.C., while Kirkland & Ellis LLP served as legal counsel to the underwriters. The Securities and Exchange Commission has declared the registration statement for this offering effective as of April 24, 2025.
