Caedryn Acquisition Corporation I is a blank check company, or SPAC, incorporated in the Cayman Islands in February 2025 with no operations, no revenue, and no identified acquisition target. Its sole purpose is to raise capital through an IPO and deploy those proceeds to complete an acquisition — referred to as an "initial business combination" — with one or more businesses. Caedryn intends to focus on targets in artificial intelligence and/or fintech, though it is not restricted to those sectors or any geography. The company raised $60M (up to $69M with the over-allotment option) by selling units at $10.00 each, with proceeds held in trust until a deal closes or the SPAC liquidates. Caedryn has 12 months from IPO closing to complete a business combination, extendable to 18 months. The sponsor, controlled entirely by CEO Mi Zhou, acquired founder shares for $25,000 that could convert to roughly 20% of post-IPO shares outstanding upon a deal closing — creating significant upside for the sponsor if a transaction is completed and worthless shares if not. Public shareholders retain the right to redeem shares for their pro-rata share of the trust (~$10.00/share) regardless of whether they support a transaction. If no deal is completed within the allowed window, the trust is distributed to public shareholders and the sponsor's interests expire worthless. Caedryn is led by CEO Zhou, who has over 12 years of experience in cross-border capital markets and M&A, and CFO Luhuan Zhong, who concurrently serves as CFO of another active SPAC.