---
title: "Crown Reserve Announces $1.0B Deal to Take Carvix Public via SPAC Combination"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/281503068.md"
description: "Crown Reserve has announced a $1.0 billion deal to take Carvix public through an all-stock merger. Carvix will become a wholly owned subsidiary of Crown Reserve, with a reference value of $10.00 per share. The transaction includes an earnout structure tied to revenue and EBITDA targets, and Crown Reserve plans to secure at least $80.0 million in PIPE financing. The combined company is expected to trade on Nasdaq after regulatory approvals."
datetime: "2026-04-02T10:03:01.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/281503068.md)
  - [en](https://longbridge.com/en/news/281503068.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/281503068.md)
---

# Crown Reserve Announces $1.0B Deal to Take Carvix Public via SPAC Combination

**Crown Reserve announced a definitive business combination to acquire Carvix, valuing Carvix at a $1.0 billion implied enterprise value.**

**Key Highlights:**

-   All-stock merger: Carvix to become a wholly owned operating subsidiary of Crown Reserve, based on $10.00 per share reference value.
-   Implied valuation: Transaction values Carvix at $1.0 billion including earnout consideration.
-   Financing plan: Crown Reserve will seek at least $80.0M in PIPE and a committed $20.0M equity line; $10.0M minimum cash required at closing.
-   Earnout structure: Up to 50,000,100 shares tied to four-year revenue and EBITDA targets, plus up to 3,000,000 shares for the Sponsor.
-   Governance & listing: Post-close board split favors Carvix nominees; combined company expected to trade on Nasdaq pending approvals.

Original SEC Filing: Crown Reserve Acquisition Corp. I \[ CRAC \] - 8-K - Apr. 01, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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