Roth CH IV (NASDAQ:ROCG) announced in an 8-K filing this morning that it has signed a letter-of-intent (LOI) with a target company, but revealed no additional information about it.
The move is somewhat unusual in that Roth CH IV has plenty of time before its February 8, 2023 transaction deadline so it does not need to tease investors ahead of an extension. But, Roth CH II made a similar move in 2021, disclosing a non-binding LOI with plenty of time left and then announced a definitive agreement with Reservoir Holdings two months later.
In general, LOIs often do not result in deals even when announced publicly and so SPACs remain in SPACInsider‘s “Searching” column until there is word of a definitive agreement. Of the five LOIs that SPACs have publicly announced over the past 12 months, two have been terminated, one reached a definitive agreement and two remain pending.
Without more information to chew on, the market appears to have not reacted to the filing with Roth CH IV sitting still at $9.93 in morning trading as investors wait to hear more.
At the SPAC of Dawn Lately de-SPACs have been announcing corporate moves of a kind frequently in trios as was the case earlier this week when WeBull (NASDAQ:BULL), AST SpaceMobile (NASDAQ:ASTS) and Quantum-Si (NASDAQ:QSI) all announced major equity raises. This week, it is a trio of de-SPACs making reverse stock splits in unison, which is...
A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...
At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...
Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....
At the SPAC of Dawn In a trading session that may find itself built around the release of Fed minutes at 2 pm ET this afternoon, a pair of SPAC targets have added their own fresh information to the mix. Enterprise AI firm Fusemachines, which has a pending combination with CSLM (OTC:CSLMF), put out a...