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Plum IV and CTR announce agreements to convert ~$205M convertible debt to equity ahead of proposed business combination
CTR's outstanding convertible notes expected to total about $245M at closing; ~$205M expected to convert to equity and ~$40M into a new planned PIPE.
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Plum Acquisition Corp. IV shareholders approve extension to Jan 2027; ~$145M redeemed
Shareholders approved extension of business combination deadline from July 16, 2026 to January 16, 2027, with option for monthly extensions up to July 16, 2027.
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Plum IV amends SPAC merger with Controlled Thermal Resources: valuation cut to $3.15B, earnout shares reduced to 70M
Valuation reduced from $4.5B to $3.15B; earnout shares cut from 100M to 70M.
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Plum Acquisition Corp. IV extends business combination deadline to Jan 2027, enters non-redemption agreements
Extraordinary general meeting set for July 10, 2026 to approve extension of business combination deadline to January 16, 2027 (or up to July 16, 2027 with monthly extensions).
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Plum IV SPAC signs business combination agreement with Controlled Thermal Resources
Sponsor must fund at least $15M in PIPE investment; $10M bridge note also required prior to close.
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Plum IV (PLMK) to merge with Controlled Thermal Resources at ~$4.7B enterprise value
CTR valued at ~$4.7B pro forma enterprise value; combined entity to list on Nasdaq as 'CTRH'.
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Plum IV and American Critical Resources announce LOI for business combination
Non-binding LOI for SPAC merger with ACR, subsidiary of Controlled Thermal Resources.
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Plum IV and American Critical Resources sign non-binding LOI for business combination
ACR targets up to 100,000 metric tons annual lithium carbonate from Hell's Kitchen project at Salton Sea, CA.
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Plum Acquisition Corp. IV closes IPO raising $172.5M, total trust $174.2M
IPO of 17,250,000 units at $10.00/unit, including full over-allotment; gross proceeds $172.5M.
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Plum Acquisition Corp. IV completes $172.5M IPO, including full over-allotment
IPO of 17,250,000 units at $10.00 each, gross proceeds $172.5M.