Roth CH Acquisition II set a July 27 meeting for shareholders to vote on the SPAC’s proposed merger with indie music company Reservoir. Roth CH II has also filed a definitive proxy on the $788 million deal.
If approved, upon closing the combined company is expected to remain listed on the Nasdaq Capital Market with common stock and warrants trading under RSVR and RSVRW.
Existing Reservoir owners will roll 100 percent of their equity into the combined enterprise.
Announced in April, institutional investors, including funds managed by Caledonia, will participate in a common stock PIPE of $150 million at $10 per share. Following the transaction and after expenses, Reservoir is expected to receive approximately $246 million. Read more.
