NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Roth CH Acquisition I Co. (NASDAQ: ROCHU) (the “Company”) announced today that it closed its initial public offering of 7,500,000 units. The offering was priced at $10.00 per unit, resulting in gross proceeds of $75,000,000. The Company’s units are listed on the Nasdaq Capital Market (“Nasdaq”) and commenced trading under the ticker symbol “ROCHU” on May 5, 2020. Each unit consists of one share of common stock and three-quarters of one redeemable warrant, with each whole warrant exercisable to purchase one share of common stock at a price of $11.50 per share. After the securities comprising the units begin separate trading, the shares of common stock and warrants are expected to be listed on Nasdaq under the symbols “ROCH” and “ROCHW,” respectively.
Of the proceeds received from the consummation of the initial public offering and a simultaneous private placement of units, $75,000,000 (or $10.00 per unit sold in the public offering) was placed in trust. An audited balance sheet of the Company as of May 7, 2020 reflecting receipt of the proceeds upon consummation of the initial public offering and the private placement will be included as an exhibit to a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission (“SEC”).
Roth Capital Partners and Craig-Hallum Capital Group acted as joint book-running managers of the offering.
A registration statement relating to these securities was declared effective by the SEC on May 4, 2020. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The offering was made only by means of a prospectus. Copies of the prospectus relating to this offering may be obtained from Roth Capital Partners, 888 San Clemente, Newport Beach, CA 92660, Attn: Prospectus Department, telephone: 800-678-9147, or by accessing the SEC’s website, www.sec.gov; Craig-Hallum Capital Group LLC, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, Attn: Equity Capital Markets, telephone: 612-334-6300 or by email at firstname.lastname@example.org.
Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and search for an initial business combination. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement for the initial public offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
John Lipman, COO
Craig-Hallum Capital Group
Cody Slach, Senior Managing Director
Gateway Investor Relations