Roth CH Acquisition V, the fifth blank check company formed by executives at Roth Capital and Craig-Hallum, filed on Tuesday 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-third 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, CFO and COO of Roth Capital. Roth CH Acquisition V 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 IV (ROGCU), Roth CH Acquisition III (ROCRU; +0% from $10 offer price), which has a pending merger with 5G infrastructure services provider QualTelk Services in June 2021, and Roth CH Acquisition II, which merged with music company Reservoir Media (RSVR; -3%); and ROTH CH Acquisition, which merged with polypropylene recycling company PureCycle Technologies (PCT; +22%) this past March.
The company was founded in 2020 and plans to list on the Nasdaq under the symbol ROCLU. Roth Capital and Craig-Hallum Capital Group are the joint bookrunners on the deal.
