Crown Reserve Acquisition Corp. I (CRAC) announced on September 23, 2026, that it has entered into a Second Amendment to its Business Combination Agreement with Carvix, Inc. This amendment modifies the terms of the original agreement, dated March 30, 2026, which was previously amended by a First Amendment on August 26, 2026.
The primary change involves the extension of the deadline for completing the proposed business combination. Under the amended Section 9.01(b), the Company or Carvix may now terminate the agreement if the transaction is not completed by the later of February 10, 2027, or the date by which the Company is required to consummate the combination under its organizational documents. Previously, the termination date was September 30, 2026.
The amendment includes a specific exception to this termination right. The Business Combination Agreement cannot be terminated if a party is in breach of the agreement and that breach is the principal cause of the failure to meet the new deadline. All other terms of the original agreement remain in full force and effect.
The proposed combination will be submitted to the Company’s shareholders for approval. A Registration Statement is expected to be filed with the SEC, which will include the preliminary and definitive proxy statements to be distributed to shareholders in connection with the vote.
