Roth CH Acquisition in a proxy filing proposes to reduce the required deposit for its11 remaining monthly extensions beginning Nov. 29 from $60,000 per month to the lesser of 2 cents a share or $30,000. A shareholder meeting date would be set at some point before the next deadline at the end of this month.
The SPAC raised $230 million in an October 2021 IPO.
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. Read more.
