Rivernorth Capital Management LLC Makes New $2.62 Million Investment in Crown Reserve Acquisition Corp. I $CRAC

Rivernorth Capital Management LLC purchased a new stake in Crown Reserve Acquisition Corp. I (NASDAQ:CRAC) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 261,602 shares of the company’s stock, valued at approximately $2,619,000.

A number of other large investors have also modified their holdings of CRAC. Geode Capital Management LLC purchased a new position in Crown Reserve Acquisition Corp. I in the fourth quarter valued at $534,000. Wolverine Asset Management LLC purchased a new stake in Crown Reserve Acquisition Corp. I during the 4th quarter worth about $928,000. Boothbay Fund Management LLC purchased a new stake in Crown Reserve Acquisition Corp. I during the 4th quarter worth about $1,118,000. Heights Capital Management Inc. acquired a new stake in Crown Reserve Acquisition Corp. I in the 4th quarter valued at about $1,988,000. Finally, Sona Asset Management US LLC acquired a new stake in Crown Reserve Acquisition Corp. I in the 1st quarter valued at about $2,002,000.

Crown Reserve Acquisition Corp. I Stock Down 0.1%

Shares of NASDAQ CRAC opened at $10.14 on Thursday. The business’s 50-day simple moving average is $10.12. Crown Reserve Acquisition Corp. I has a 1 year low of $9.89 and a 1 year high of $10.15.

Crown Reserve Acquisition Corp. I (NASDAQ:CRAC) last issued its earnings results on Friday, May 15th. The company reported ($0.01) earnings per share for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Crown Reserve Acquisition Corp. I from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

About Crown Reserve Acquisition Corp. I

Crown Reserve Acquisition Corp. I (NASDAQ: CRAC) is a special purpose acquisition company (SPAC) listed on the Nasdaq exchange. As a blank‑check vehicle, the company was formed to raise capital through a public offering with the primary aim of identifying, negotiating and completing a business combination with one or more operating businesses. Prior to consummation of a qualifying transaction, Crown Reserve Acquisition Corp. I does not engage in substantive commercial operations beyond the activities necessary to carry out its formation and capital‑raising objectives.

The company’s principal activities include managing proceeds raised in its initial public offering, maintaining those funds in trust accounts, conducting due diligence on prospective targets and pursuing mergers, acquisitions or other strategic combinations that would enable the combined entity to become an operating public company.