---
title: "Crown Reserve Acquisition I to Merge With Carvix in Stock Deal With Up to 50M Earnout Shares"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/281662347.md"
description: "Crown Reserve Acquisition I has entered into a Business Combination Agreement with Carvix to merge and take Carvix public. Carvix shareholders will receive 50 million shares at closing, with the potential for an additional 50 million shares over four years. The agreement includes various supporting documents, such as a Founders Stock Letter and a Stockholder Support Agreement. The merger is subject to stockholder approvals, SEC effectiveness, and other conditions, with a closing date targeted by September 30, 2026."
datetime: "2026-04-03T21:13:01.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/281662347.md)
  - [en](https://longbridge.com/en/news/281662347.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/281662347.md)
---

# Crown Reserve Acquisition I to Merge With Carvix in Stock Deal With Up to 50M Earnout Shares

Crown Reserve Acquisition I entered into a Business Combination Agreement with Carvix to domesticate to Delaware and merge Carvix into a wholly owned subsidiary, taking Carvix public. Carvix holders will receive 50,000,001 shares at closing and may earn up to 50,000,100 more over four years; the Sponsor may earn up to 3,000,000 additional shares. Supporting agreements include a Founders Stock Letter with lock-up and anti-dilution waivers, a Stockholder Support Agreement securing required approvals, and a planned Investor Rights Agreement for governance and registration rights. Closing remains subject to stockholder approvals, SEC effectiveness, Nasdaq listing, HSR (if required), and a minimum cash condition.

**Agreement 1: Crown Reserve Acquisition I to Merge With Carvix in Stock Deal With Up to 50M Earnout Shares**

-   **Agreement type**: Business Combination Agreement (Domestication and Merger)
-   **Counterparty**: Carvix
-   **Signed / Effective**: Mar 30 2026 / Mar 30 2026
-   **Duration / Termination**: Through Closing; Outside Date Sep 30 2026
-   **Reason**: Take Carvix public and combine operations via de-SPAC

**Agreement 2: Crown Reserve Acquisition I Sponsor Signs Founders Stock Letter With Lock-Up and Waivers**

-   **Agreement type**: Founders Stock Letter and Lock-Up
-   **Counterparty**: Carvix and Crown Acquisition Sponsor
-   **Signed / Effective**: Mar 30 2026 / Mar 30 2026
-   **Duration / Termination**: Lock-up up to 18 months post-closing
-   **Reason**: Support business combination and align founder incentives

**Agreement 3: Crown Reserve Acquisition I Secures Stockholder Support From Key Carvix Holders**

-   **Agreement type**: Stockholder Support Agreement
-   **Counterparty**: Key Carvix Stockholders
-   **Signed / Effective**: Mar 30 2026 / Mar 30 2026
-   **Duration / Termination**: Until closing or termination
-   **Reason**: Secure required approvals for the business combination

**Agreement 4: Crown Reserve Acquisition I Plans Investor Rights Agreement for Governance and Registration**

-   **Agreement type**: Investor Rights Agreement (governance and registration rights)
-   **Counterparty**: Sponsor and Carvix founders
-   **Reason**: Establish governance and provide liquidity via registration rights

Original SEC Filing: Crown Reserve Acquisition Corp. I \[ CRAC \] - 8-K - Apr. 03, 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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