- Cal Redwood Acquisition Corp. (Nasdaq: CRAQU) to allow separate trading of its Class A ordinary shares (CRA, Financial) and rights (CRAQR) from June 23, 2025.
- The company targets business combinations in the technology, media, and telecommunications (TMT) sectors.
- Cohen & Company Capital Markets and Seaport Global Securities were appointed as underwriting managers for the IPO.
Cal Redwood Acquisition Corp. (Nasdaq: CRAQU) announced that effective June 23, 2025, investors holding units from its initial public offering can trade the Class A ordinary shares (CRA) and rights (CRAQR) separately on the Nasdaq Global Market. Investors not opting for this separation will continue to trade the units under the symbol CRAQU.
The company's primary focus will be on forming business combinations within the technology, media, and telecommunications (TMT) sectors and industries undergoing technology-driven disruption. This strategic direction is supported by the management team's expertise in these areas.
The initial public offering was successfully managed by Cohen & Company Capital Markets as the lead book-running manager, with Seaport Global Securities acting as a joint book runner. The registration statement for these securities was declared effective by the SEC on May 22, 2025.
To separate their units into ordinary shares and rights, holders must instruct their brokers to contact the company's transfer agent, Lucky Lucko Inc., operating as Efficiency. This move offers flexibility in managing investments in Cal Redwood Acquisition Corp. as it seeks suitable targets for mergers or acquisitions.
