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• Special Purpose Acquisition Company (SPAC): A shell company formed to raise capital through an initial public offering (IPO) with the sole purpose of acquiring or merging with an existing private operating company.

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Crane Harbor Acquisition II (CRAN) is a Special Purpose Acquisition Company (SPAC). As a SPAC, it is a shell company formed for the purpose of raising capital through an initial public offering (IPO) to acquire an existing private company, thereby taking it public.

Prior to completing a business combination, Crane Harbor Acquisition II does not have major customers or generate revenue by selling products or services. Its primary activity is to identify and complete a merger or acquisition with an operating business. Therefore, it does not have traditional customers in the way an operating company would.

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William Fradin, Chief Executive Officer

William Fradin is a co-founder and Managing Director of HEPCO Capital Management LLC and a Managing Partner and Founder at Seal Rock Partners. He has extensive experience in finance, mergers and acquisitions, private equity, and SPACs. Mr. Fradin previously worked as an investment professional at JLL Partners, a middle-market private equity investment firm. He has also served as Chairman and Chief Executive Officer of Juniper II Corp. and as an Executive Vice President at Osprey Technology Acquisition Corp. He has been involved in several previous de-SPAC transactions, including BlackSky, Falcon, Janus, and Vertiv.

Thomas Elliott, Chief Financial Officer

Thomas Elliott serves as the Chief Financial Officer for Crane Harbor Acquisition Corp. II, as well as for HEPCO Capital Management, LLC and HEPCO Opportunity Partners. Prior to these roles, he was the Chief Financial Officer, Executive Vice President, and Treasurer of Resource REIT, Inc. Mr. Elliott held various officer positions at Resource America, Inc. He was also a Vice President at Fidelity Leasing, Inc. Earlier in his career, Mr. Elliott founded EQV Capital Group, a middle market M&A boutique, which later merged into Capstone Partners. He started his career as a CPA for Ernst & Young.

Jonathan Cohen, Chairman

Jonathan Cohen is the founder, CEO, and President of Hepco Capital Management, LLC, and the founder and Chairman of HEPCO Opportunity Partners. He has a notable track record as an entrepreneur and executive across various sectors, including technology and energy. Mr. Cohen was co-founder and co-executive chairman of the predecessor to BlackSky Technology, Inc. He also served as CEO of Osprey Energy Acquisition Corp. and Chairman of Falcon Minerals Corporation. Additionally, he was a co-founder and held executive and board roles at Atlas Energy and its affiliates, and Atlas Pipeline Partners LP, with Atlas Energy, Inc. being sold to Chevron Corporation in 2011 and Atlas Pipeline Partners, L.P. sold to Targa Resources, Inc. in 2015. Mr. Cohen also founded Resource Capital Corp., now known as ACRES Commercial Realty.

Edward Cohen, Vice Chairman

Edward Cohen is the Vice Chairman of Crane Harbor Acquisition Corp. II and Chairman of HEPCO Capital Management, LLC. He has also served as Co-Chairman of the board of directors of Osprey Technology Acquisition Corp. and Executive Chairman of Osprey Energy Acquisition Corp. Mr. Cohen was a director, chairman of the board, and CEO/President of Resource America, Inc. He also served as Chairman of Titan Energy, LLC and was Chairman of the Board of Directors of Resource Capital Corp. Mr. Cohen is the founder of The Bancorp, Inc. (Delaware) and Chairman of Brandywine Construction & Management, Inc. He previously served as President & Chief Executive Officer of Atlas Energy, L.P.

Jeffrey Brotman, Chief Operating Officer & Chief Legal Officer

Jeffrey Brotman serves as Chief Operating Officer & Chief Legal Officer for Crane Harbor Acquisition Corp. II. He also holds the title of CFO, Secretary & Chief Legal Officer at Osprey Technology Acquisition Corp. II and Chief Operating Officer & Chief Legal Officer at HEPCO Capital Management LLC. Mr. Brotman previously served as Chief Legal Officer for Falcon Minerals Corp. and held roles as Secretary, Chief Financial & Legal Officer for Osprey Energy Acquisition Corp. He was also the Chief Operating Officer and Executive Vice President at Resource America, Inc.

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The primary risks for Crane Harbor Acquisition II (CRAN), a Special Purpose Acquisition Company (SPAC), stem from its unique business model as a blank check company formed to acquire or merge with an existing business.

1. Failure to Complete an Initial Business Combination: The most significant risk for Crane Harbor Acquisition II is its ability to identify and successfully complete a merger, acquisition, or other business combination within the timeframe specified in its organizational documents. If the company fails to consummate a qualifying transaction, it will be forced to liquidate and return the funds held in its trust account to its public shareholders, potentially leading to a loss of opportunity and any premium paid above the trust value.
2. Risk of Not Identifying a Suitable Target or Completing a Favorable Transaction: Even if the company avoids liquidation, there is a risk that Crane Harbor Acquisition II may not be able to identify a high-quality target business or negotiate a business combination on favorable terms. This could result in a less-than-optimal merger partner or a transaction that does not generate significant value for shareholders post-combination, especially given its stated focus on competitive sectors such as technology, real assets, and energy.
3. Shareholder Dilution and Redemption Risk: Should Crane Harbor Acquisition II propose a business combination, existing shareholders face potential dilution from various sources, including the issuance of new shares to the target company's owners, private investment in public equity (PIPE) financing, and shares held by the SPAC's sponsors. Additionally, if a substantial number of public shareholders choose to redeem their shares prior to the completion of a business combination, the capital available to the combined entity could be significantly reduced, potentially hindering the future operations and growth of the acquired business.

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The expected drivers of future revenue growth for Crane Harbor Acquisition II (CRAN) over the next 2-3 years are intrinsically linked to its nature as a Special Purpose Acquisition Company (SPAC) and its ultimate goal of completing a business combination.

1. Completion of an Initial Business Combination: As a SPAC, Crane Harbor Acquisition II currently has no significant operations or revenue-generating activities of its own. Its primary objective is to identify and complete a merger, share exchange, asset acquisition, or similar business combination with one or more operating businesses. The successful consummation of such a transaction, which the company aims to achieve by December 17, 2027, is the foundational driver for any future revenue generation.
2. Revenue Growth of the Acquired Target Company: Upon the successful acquisition of an operating business, the future revenue growth of Crane Harbor Acquisition II will be directly dependent on the performance and growth strategies of the newly acquired entity. This includes its ability to increase sales, expand its customer base, and gain market share in its respective industry.
3. Strategic Focus on High-Growth Sectors: Crane Harbor Acquisition II has stated its primary focus for potential acquisitions is on companies within the technology, real assets, and energy sectors. This strategic emphasis suggests an intention to acquire a business that operates in industries with inherent high-growth potential, which, post-acquisition, would become a key driver of CRAN's consolidated revenue.
4. Expansion and Synergies from the Acquired Business: Once an acquisition is complete, the acquired company may pursue various growth strategies such as launching new products or services, expanding into new geographical markets, or achieving synergies from the business combination itself. These initiatives, undertaken by the operating business, would contribute to the overall revenue growth of the combined entity.

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Share Issuance

• Crane Harbor Acquisition Corp. II completed its initial public offering on December 17, 2025, generating gross proceeds of $345 million.
• The offering included the sale of 34.5 million units at $10.00 per unit, which encompassed the full exercise of the underwriters' over-allotment option for 4.5 million units.
• Each unit consists of one Class A ordinary share and one right to receive one-fifteenth of a Class A ordinary share upon the consummation of an initial business combination.

Inbound Investments

• A total of $345 million from the initial public offering proceeds and a simultaneous private placement was placed into a trust account for the benefit of public shareholders.
• These funds are intended to finance a future business combination with an operating company, with a focus on opportunities in the technology, real assets, and energy sectors.