Crown Reserve Acquisition Corp. I and Carvix, Inc. Announce Definitive Business Combination Agreement

Transaction Values Carvix at $1.0 Billion Implied Enterprise Value; Combined Company Expected to Trade on Nasdaq MIAMI, FL and LUTZ, FL, March 31, 2026 (GLOBE NEWSWIRE) -- Crown Reserve Acquisition Corp. I (Nasdaq: CRAC, CRACU, CRACW, CRACR) (“Crown Reserve” or “SPAC”), a special purpose acquisition company, and Carvix, Inc. (“Carvix” or the “Company”), a technology-driven automotive platform focused on acquiring, integrating, and scaling automotive-related businesses, today announced that they have entered into a definitive Business Combination Agreement (the “BCA”), pursuant to which a wholly owned subsidiary of Crown Reserve will merge with and into Carvix, with Carvix surviving as a wholly owned operating subsidiary of Crown Reserve (the “Business Combination”). Prior to closing, Crown Reserve will domesticate from the Cayman Islands to Delaware and continue as the publicly traded parent company.