Roth CH IV (NASDAQ:ROCG) announced in an 8-K this morning that its letter of intent (LOI) to combine with a target company is no longer exclusive.
The SPAC noted that negotiations for the deal remain ongoing, but both parties may seek out other transactions. Roth CH IV’s initial announcement on June 15 revealed no detail about the company in question, so this does seem a situation of “so long, we hardly knew ya.'” But, of course, this deal could still be negotiated into a definitive agreement.
Announcing LOIs has become somewhat more common in recent months, perhaps because some SPACs are looking at shorter deadlines and want to keep investors engaged ahead of any upcoming extension votes. Six SPACs announced LOIs with targets since Roth CH IV did so in June, but only one of these has announced a definitive agreement since – East Resources (NASDAQ:ERES) and its combination with Abacus Life.
Two of these SPACs – Alpha Star (NASDAQ:ALSA) and Chavant (NASDAQ:CLAY) – have extended their transaction deadlines in the interim.
McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....
EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...
Vendome Acquisition Corporation I (NASDAQ:VNMEU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VNMEU”, Wednesday, July 2, 2025. The new SPAC plans to focus its search on target business in the consumer sector operating in North America, Southeast Asia, and Europe....
Origin Investment Corp. I (NASDAQ:ORIQU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ORIQU”, Wednesday, July 2, 2025. The new SPAC aims to mount a broad search for a target with a strong management and both revenue and earnings growth potential....