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Roth Capital's SPAC Roth CH Acquisition IV files for a $100 million IPO

July 9, 2021

Roth CH Acquisition IV, the fourth blank check company formed by executives of Roth Capital and Craig-Hallum, filed on Friday with the SEC to raise up to $100 million in an initial public offering.

The Newport beach, CA-based company plans to raise $100 million by offering 10 million units at $10 per unit. Each unit contains one share of common stock and one-fourth of a warrant, exercisable at $11.50. At the proposed deal size, the company would command a market value of $129 million. 

The company is led by co-CEO and Chairman Byron Roth, founder and CEO of Roth Capital Partners, co-CEO and Director John Lipman, Partner and Managing Director of Investment Banking at Craig-Hallum, and CFO Gordon Roth, brother of Byron Roth and CFO and COO of Roth Capital. Roth CH Acquisition IV aims to leverage management's experience to target the business services, consumer, healthcare, technology, wellness or sustainability sectors.

The group's previous SPACs include Roth CH Acquisition III (ROCRU; -1% from offering price), which announced a pending business combination with 5G infrastructure services provider QualTelk Services in June 2021, and Roth CH Acquisition II (ROCC; -1%), which announced a pending business combination with music company Reservoir Holdings in April 2021. 

Primary shareholders include co-CEO and Chairman Byron Roth (8% pre-IPO stake), CFO Gordon Roth (6%), co-CEO and Director John Lipman (5%), and CEO of Craig-Hallum Steve Dyer (5%).

The company was founded in 2019 and plans to list on the Nasdaq under the symbol ROCGU. Roth CH Acquisition IV filed confidentially on April 7, 2021. Roth Capital, and Craig-Hallum Capital Group are the joint bookrunners on the deal.