Roth CH Acquisition V in an 8-K said it amended a non-redemption agreement signed in May, now to include a payment of 4 cents a share to participating investors for each month required under the SPAC’s deadline extension to Dec. 4.
The original agreement called for the investors to hold 2 million shares through the extension vote that was held in May. Nearly 9 million shares were redeemed ahead of that vote. The SPAC sold 10 million shares in its December 2021 IPO.
Roth CH V in April signed a letter of intent for a potential merger with LiveOne’s Slacker Radio at a pre-money valuation of $160 million, subject to completion of diligence and definitive documentation. No further announcement has been made on the status of the LOI. Read more.
