Plum IV SPAC signs business combination agreement with Controlled Thermal Resources

Plum Acquisition Corp, IV

Sponsor must fund at least $15M in PIPE investment; $10M bridge note also required prior to close.
Up to 100M earnout shares issuable in tranches if stock price reaches $12.50 to $30.00 over 10 years.
Up to 2M non-redemption shares to be issued to holders who agree not to redeem their SPAC shares.
Post-closing board: 4 directors from Controlled Thermal, 1 from Plum IV; stock to list on Nasdaq.
Controlled Thermal Resources will survive as the combined company; SPAC will domesticate to Delaware.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Plum Acquisition Corp, IV entered into Business Combination Agreement with Controlled Thermal Resources Holdings Inc. (effective 2026-03-08).

Action: entry
Agreement: merger
Counterparty: Controlled Thermal Resources Holdings Inc.
Effective: 2026-03-08

Exact text from the filing

entered into a Business Combination Agreement (the “ Business Combination Agreement ”), by and among Plum IV, Plum IV Merger Sub, Inc., a Delaware corporation and a direct wholly owned subsidiary of Plum IV (“ Merger Sub ”), and Controlled Thermal Resources Holdings Inc., a Delaware corporation (the “ Company ”)

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Plum Acquisition Corp, IV filing history →

Source: SEC EDGAR

accession 0001213900-26-026265

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