Cal Redwood Acquisition Corp. (NASDAQ:CRACU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “CRAQU”, Friday, May 23, 2025.
The new SPAC aims to combine with a company in the technology, media and telecommunications sector at the crossroads of emerging trends like machine-learning and digital identities.
Cal Redwood’s management team is led by Chairman and President Vivek Ranadivé, Chief Executive Officer Daven Patel, Chief Financial Officer James Chan, and Chief Investment Officer Raymond Dong. The Board also includes Eric C.W. Dunn, Sanjay Subhedar and Lori Wright.
Total SPAC deal count for 2025 year-to-date is now 48. This offering is expected to close on Tuesday, May 27, 2025.
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. Greenberg Traurig LLP is serving as Issuer’s Counsel with Loeb & Loeb LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Lucky Lucko, Inc. d/b/a Efficiency (“Efficiency”) is acting as trustee.
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