Cal Redwood Acquisition Corp. (CRACU), a Menlo Park, California-based SPAC, raised $200 million by pricing its IPO on Thursday night, May 22, 2025, in sync with the terms in its prospectus: 20 million units at $10.00 each. Cal Redwood Acquisition Corp. (CRACU) opened at $10.02 at 10:55 a.m. EDT today – Friday, May 23, 2025 – on NASDAQ on volume of 1,868,950. Each unit consists of one share of stock and one right to receive one-tenth (1/10th) of a share upon the consummation of an initial business combination. Effective on Tuesday, May 27, 2025, Cal Redwood Acquisition Corp. will trade under the symbol CRAQU, according to NASDAQ, under the terms of the SPAC’s S-1/A filing on May 20,2025. (Please see next paragraph.)
For the record, from Cal Redwood Acquisition Corp.‘s SEC filings: Cal Redwood Acquisition Corp. changed its proposed symbol twice on the road to going public. The proposed symbol was changed to “CRAQU” in its May 20, 2025, filing (an S-1/A filing) with the SEC – marking a change from its previous proposed symbol of “CRACU” in its April 2, 2025, filing with the SEC – in turn denoting a change from its original proposed symbol “CRAU” in the S-1 filing dated March 3, 2025. (Note: This paragraph updates The IPO Buzz column published online earlier today – Friday, May 23, 2025 – to set the record straight about Cal Redwood Acquisition’s proposed stock symbol, quoting from its SEC filings.)
Cohen & Company Capital Markets acted as the lead joint book-runner. Seaport Global Securities served as a joint book-runner.
Cal Redwood Acquisition intends to focus its search for target companies on the tech, media and telecom (TMT) sector as well as on sectors that are being transformed via technology disruption, according to the prospectus.
(For more information, please check the IPO Calendar and the individual IPO Profile found on the IPOScoop.com website.)
-
Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.
-
To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message.
-
Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.
-
Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.