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• Initial Public Offering (IPO) and Capital Raising: Facilitates the raising of capital from public investors to finance a future business combination with an operating company.
• Target Company Identification and Due Diligence: Engages in the search for and evaluation of private operating companies suitable for a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination.
• Business Combination Transaction: Completes a merger or acquisition with a private company, effectively taking that company public.

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Crane Harbor Acquisition II (symbol: CRAN) is a Special Purpose Acquisition Company (SPAC). A SPAC is 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 company.

As CRAN has not yet completed a business combination or acquisition of an operating company, it does not currently have any revenue-generating operations or "major customers" in the traditional sense of selling goods or services. Therefore, it does not have a list of customer companies or categories of individual customers to describe.

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The key risks for Crane Harbor Acquisition II (CRAN), a Special Purpose Acquisition Company (SPAC), primarily stem from its nature as a blank check company seeking to merge with an operating business.

1. Inability to Complete a Business Combination: As a SPAC, Crane Harbor Acquisition II was formed with the sole purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company has a limited timeframe, typically 18 to 24 months, to identify and complete such an acquisition (a "de-SPAC" transaction). If it fails to do so, the company will be forced to liquidate, returning the capital held in its trust account to public shareholders, which may result in investors only receiving their initial investment back, potentially without significant returns or with opportunity cost losses. The inherent uncertainties of the IPO process, even at the initial stages, hint at broader challenges in completing the eventual business combination.
2. Conflicts of Interest and Potential Dilution for Public Shareholders: The SPAC structure can give rise to conflicts of interest, particularly concerning the incentives of the company's sponsor, officers, and directors. The sponsor typically purchases founder shares at a nominal price, which could lead to significant dilution for public shareholders upon the consummation of a business combination. This structure incentivizes the sponsor to complete an acquisition, even if the terms may not be entirely favorable to public shareholders, to avoid losing their entire investment. This inherent conflict can lead to situations where sponsors profit substantially even if the post-merger company's share price declines, disproportionately affecting public investors who bought shares at face value.
3. Lack of Operating History and Reliance on Management's Discretion: Crane Harbor Acquisition II is a blank check company with no operating history and has not yet commenced operations. Its success is entirely dependent on the ability of its management team to identify, evaluate, and complete a suitable business combination within its targeted sectors of technology, real assets, and energy. Investors are essentially relying on the management team's expertise and discretion to find and execute a successful merger, without any prior operational track record for the SPAC itself. This reliance on the management team's judgment and the lack of defined business operations present inherent risks in such investments.

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The significantly increased regulatory scrutiny by the SEC on SPAC transactions, coupled with a sustained decline in investor appetite for companies going public via SPACs and high shareholder redemption rates, which collectively make it substantially more challenging for CRAN to identify a suitable target, secure adequate funding, and successfully complete a merger within its mandated timeframe.

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Crane Harbor Acquisition II (NASDAQ: CRAN) is a Special Purpose Acquisition Company (SPAC) whose future revenue growth over the next 2-3 years will be primarily driven by its ability to successfully identify, acquire, and integrate an operating business. As a blank-check company, CRAN currently has no ongoing operations or revenue streams; its financial trajectory hinges entirely on its acquisition strategy and the subsequent performance of the acquired entity.

The expected drivers of future revenue growth for Crane Harbor Acquisition II are:

1. Successful Business Combination with a High-Growth Target: The most significant driver will be CRAN's ability to complete a de-SPAC transaction by merging with or acquiring a high-growth private company. The SPAC has explicitly stated its focus on target companies within the technology, real assets, and energy industries. The chosen target's inherent revenue potential and market position will directly translate into CRAN's future financial performance.
2. Expansion within the Acquired Company's Total Addressable Market (TAM): Following a successful acquisition, the revenue growth will be driven by the acquired company's capacity to expand its market share and penetrate its high-growth Total Addressable Market (TAM). CRAN's strategy is to target businesses with significant market opportunities.
3. Operational Excellence and Value Creation Post-Acquisition: The experienced management team of Crane Harbor Acquisition II aims to drive value creation through operational excellence and strong governance within the acquired entity. This could involve optimizing existing operations, improving efficiency, and implementing strategies to accelerate revenue generation.
4. Development and Commercialization of Differentiated Offerings by the Acquired Business: Future revenue growth will also stem from the acquired company's ability to continue developing and commercializing differentiated products or services. CRAN seeks targets with unique offerings, suggesting an expectation for innovation to fuel sustained growth post-merger.

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Share Issuance

• Crane Harbor Acquisition Corp. II completed its initial public offering (IPO) on December 17, 2025.
• The company issued 34.5 million units at $10.00 per unit, generating $345 million in gross proceeds, including the full exercise of the underwriters' over-allotment option.
• Combined with a simultaneous private placement, the company raised a total of $354 million, which was placed into a trust account.

Inbound Investments

• Proceeds of $345 million from the initial public offering and an additional amount from a private placement were placed into a trust account for public shareholders.

Outbound Investments

• Crane Harbor Acquisition Corp. II is a blank check company formed with the purpose of pursuing mergers, acquisitions, or similar business combinations.
• The company intends to focus its acquisition efforts primarily on opportunities within the technology, real assets, and energy sectors.