139,200 Shares in Crown Reserve Acquisition Corp. I $CRACU Purchased by Gabelli Funds LLC

Gabelli Funds LLC purchased a new position in shares of Crown Reserve Acquisition Corp. I (NASDAQ:CRACU) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 139,200 shares of the company’s stock, valued at approximately $1,384,000.

Crown Reserve Acquisition Corp. I Stock Performance

Shares of CRACU opened at $10.22 on Friday. Crown Reserve Acquisition Corp. I has a twelve month low of $10.04 and a twelve month high of $10.76. The firm has a 50 day simple moving average of $10.24.

Crown Reserve Acquisition Corp. I Profile

Crown Reserve Acquisition Corp. I (NASDAQ: CRACU) is a special purpose acquisition company (SPAC) formed to effect a business combination with one or more operating companies. As a blank‑check vehicle, the company itself does not operate a commercial business and was created to identify, acquire or merge with a private company that would become a publicly traded entity through the combination.

Typical activities for a SPAC like Crown Reserve include raising capital through an initial public offering of units, holding those proceeds in trust, sourcing potential acquisition targets, conducting due diligence, negotiating transaction terms and seeking shareholder approval for a proposed business combination.