Roth CH Acquisition Co. (formerly TKB Critical Technologies 1) on Friday adjourned its shareholder meeting until Dec. 19 to vote on reduced extension payments.
Roth CH wants to reduce the required deposit for its remaining extensions from $60,000 per month to the lesser of 2 cents a share or $30,000 per month.
If shareholders reject the deposit reduction proposal, the SPAC would still be on the hook for monthly deposits of $60,000 to continue operating — unless the board opts to redeem shares and liquidate.
Roth CH currently has 7,794,236 Class A shares outstanding and 75,000 Class B shares. TKB Critical originally raised $230 million in an October 2021 IPO. The sponsor Holdings were sold to Roth CH in June. Read more.
