Who is behind OSPR? Osprey / Crane Harbor (Jonathan Z. Cohen)
The people who set Osprey Acquisition III up, what they have done before, and what happened to the shareholders who backed their earlier vehicles — every outcome cited to an SEC filing.
Post-close outcome quality: 1 priced deSPAC vs trust value (prior vehicles against the $10.00 IPO baseline, in-DB vehicles against the trust they filed): median -51%, 0/1 still worth at least half of trust, 0 at under a tenth of it. Worst: Falcon Minerals Corp → Sitio Royalties Corp -51%. 1 more delisted with no surviving quote — scored as a total loss (a known outcome, not a gap), with no % invented. n=2, pulled toward neutral. 2 other completion(s) not priced (1 ticker could not be resolved; 1 no stored price) — left OUT of the ratio, not guessed.
Mixed record · medium confidence — the same inputs always produce the same score.
Track record
The fleet this sponsor runs today, and the SEC-verified fate of every prior vehicle we have traced.
- Osprey Energy Acquisition Corp · 2017→ Falcon Minerals Corp → Sitio Royalties CorpCompleted
- Osprey Technology Acquisition Corp. · 2019→ BlackSky Technology Inc.BKSYCompleted
- Crane Harbor Acquisition Corp. · 2025→ Xanadu Quantum Technologies LtdXNDUCompleted
Edward E. Cohen and Jonathan Z. Cohen (the Atlas Energy family, distinct from the Betsy/Daniel Cohen "Cohen Circle" fintech franchise) have sponsored blank-check vehicles as Osprey since 2017 and as Crane Harbor since 2024. Osprey Acquisition III (OSPR) and Crane Harbor II (CRAN) share four Section 16 filers, two of them officers at both — Brotman Jeffrey F and Elliott Thomas C. EDGAR formerNames also record that Osprey Technology Acquisition Corp. was originally registered as "Osprey Energy Acquisition Corp. II", which is the CIK-level proof that Osprey Energy and Osprey Technology are one series.
Full sponsor record →Why the sponsor matters
The thirty-second version, for anyone who has never traded a SPAC.
A SPAC is an empty listed company; the sponsor is the only substance it has before a deal. They pick the target, negotiate the terms, and typically hold founder shares — equity they received nearly free — which pay off for them even in deals that lose public holders money. A sponsor’s prior vehicles are the closest thing to evidence about how this one ends.
How the founder-share incentive works is covered in our plain-English guide to the sponsor promote.
In plain English
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.