Cal Redwood Acquisition Corp. Launches $200 Million IPO

Deal News | May 22, 2025 | EIN

Cal Redwood Acquisition Corp. Launches $200 Million IPO

Cal Redwood Acquisition Corp. announced its initial public offering (IPO) priced at $200 million, with 20,000,000 units priced at $10.00 each. The IPO is set to list on Nasdaq under the symbol CRAQU starting May 23, 2025. Each unit includes one Class A ordinary share and a right to an additional one-tenth of a share following an initial business combination. The company, structured as a special purpose acquisition company (SPAC), aims to target sectors like technology, media, and telecommunications, leveraging management's expertise in these areas. Cohen & Company Capital Markets and Seaport Global Securities are managing the offering. An over-allotment option allows underwriters to purchase up to 3,000,000 additional units. The offering's closure is expected by May 27, 2025, pending customary conditions.

Sectors

  • Financial Services
  • Technology, Media, and Telecommunications (TMT)

Geography

  • United States – The IPO is taking place on Nasdaq, a U.S.-based stock exchange; moreover, Cohen & Company Capital Markets is based in New York.

Industry

  • Financial Services – The article revolves around the initial public offering (IPO) of a special purpose acquisition company (SPAC), which is a financial transaction within the capital markets.
  • Technology, Media, and Telecommunications (TMT) – Cal Redwood Acquisition Corp. is targeting the TMT sectors for its business combination, highlighting the industry's relevance.

Financials

  • $200 million – The total value of the initial public offering.
  • $10.00 per unit – The price at which each unit in the IPO is being offered.
  • 20,000,000 units – The total number of units being offered in the IPO.

Participants

NameRoleTypeDescription
Cal Redwood Acquisition Corp.Target/IssuerCompanyA special purpose acquisition company (SPAC) focused on merging with or acquiring businesses in the TMT sector.
Cohen & Company Capital MarketsLead Book-running ManagerCompanyA division of J.V.B. Financial Group, LLC, handling the book-running for the Cal Redwood IPO.
Seaport Global SecuritiesJoint Book-runnerCompanyAssisting in managing the IPO alongside Cohen & Company.