IPOs

SPAC Roth CH Acquisition III prices $100 million IPO

Roth CH Acquisition III, the third blank check company formed by executives at Roth Capital and Craig-Hallum, raised $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50.

The company is led by Chairman and Co-CEO Byron Roth, the founder and CEO of Roth Capital Partners; Co-CEO and Director John Lipman, a Partner and Managing Director at Craig-Hallum; and CFO Gordon Roth, the CFO and COO of Roth Capital. Other executives include Co-President Rick Hartfiel, who serves as Managing Partner and Head of Investment Banking at Craig-Hallum Capital, and Co-President Aaron Gurewitz, a Managing Director and Head of ECM at Roth. Roth CH Acquisition III plans to target the business services, consumer, healthcare, technology, wellness or sustainability sectors, specifically companies with enterprise values between $400 million and $1 billion.

The group's previous SPACs include Roth CH Acquisition II (ROCCU; +11% from $10 offer price), which went public in December 2020, and Roth CH Acquisition (ROCH; +160%), which went public in May 2020 and has a pending merger agreement with polypropylene recycling company PureCycle Technologies.

Roth CH Acquisition III plans to list on the Nasdaq under the symbol ROCRU. Roth Capital and Craig-Hallum Capital Group acted as lead managers on the deal.

The article SPAC Roth CH Acquisition III prices $100 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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