Special purpose acquisition company Roth CH Acquisition V Co. (Nasdaq: ROCLU) went public on the Nasdaq Global Market today. The firm is looking to raise US$100.0 million through its initial public offering.
The offering consists of 10.0 million units priced at US$10.00 per unit. Each unit is composed of one common share and one-half purchase warrant, with each whole warrant redeemable to one common share at US$11.50 per share.
The company units trade on the Nasdaq big board under the symbol “ROCLU”. Once the securities separate, the company shares and warrants will trade under the ticker symbols “ROCL” and “ROCLW”, respectively.
Sponsored · Mercado Minerals Ltd.
Small-cap investment firms Roth Capital Partners and Craig-Hallum Capital Group, who are the sponsors of the blank-check company, are managing the offering as the joint bookrunners. The company has granted the underwriters a 45-day over-allotment option to purchase additional 1.5 million company units.
The offering is expected to close on December 3, 2021, subject to customary closing conditions.
The company is the fifth SPAC co-sponsored by Roth Capital and Craig-Hallum Capital. Roth CH Acquisition I consummated its business with PureCycle Technologies in March 2021 while Roth CH Acquisition II reverse merged with Reservoir Holdings in July 2021.
The blank-check firm will be headed by co-CEOs Byron Roth, Roth Capital’s CEO, and John Lipman, Craig-Hallum Capital’s Managing Director of Investment Banking. On its target businesses, it is looking to focus on firms in the business services, consumer, healthcare, technology, wellness, or sustainability sectors.
Information for this briefing was found via the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
