Crane Harbor II is a SPAC — a blank check company with no operations or revenues — formed to find and merge with a private company, taking it public in the process. The company raised $345M in its December 2025 IPO, with proceeds held in trust invested in U.S. government securities or money market funds while the team searches for a target. Crane Harbor II is focused on the technology, real assets, and energy sectors, with particular interest in global connectivity, sustainability, and infrastructure. It has until December 2027 to complete a business combination, or it must liquidate and return funds to shareholders. The SPAC structure gives the sponsor, Crane Harbor Sponsor II, roughly 25% of post-IPO shares for a nominal upfront investment — a stake that converts to Class A shares upon deal close and becomes worthless if no deal is completed. Around $330M is available for deal consideration after deferred underwriting fees. The management team is led by CEO William Fradin and COO/CLO Jeffrey Brotman, with Jonathan Cohen and Edward Cohen as Executive Chairman and Vice Chairman. The team has prior SPAC experience, having previously executed combinations with Janus International, Vertiv, BlackSky Technology, and Falcon Minerals. Notably, management also runs a sister SPAC, Crane Harbor I, which has already signed a deal with Xanadu Quantum Technologies and has priority over deal flow until that combination closes — a potential conflict of interest for Crane Harbor II shareholders.