Roth CH Acquisition III today filed a preliminary proxy on its proposed merger with QualTek, a turnkey provider of infrastructure services to the 5G wireless, telecom, and renewable energy sectors. If approved, the merged companies would have an enterprise value of $829 million and QualTek Services would list on the Nasdaq under QTEK.
The transaction will be funded by a combination of Roth CH III’s cash held in trust (less any redemptions), an effective full equity roll-over from existing QualTek ownership, and $66 million in proceeds from a common stock PIPE at $10 per share. In addition, certain institutional investors also agreed to make a $44 million private placement funding into QualTek at the time the deal was announced in June. Read more.
