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Roth CH Acquisition Co. (USCTF0.00%) has submitted its annual report on Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's financial activities, including a net income of $119,065 for the year ended December 31, 2024, compared to a net income of $2,586,752 in the previous year.
The company reported general and administrative expenses of $650,122 for the year, with interest income on cash and marketable securities held in the trust account amounting to $435,437.
As of December 31, 2024, Roth CH Acquisition Co. had cash of $6,738 and a working capital deficit of $2,021,686. The company expects to incur significant costs related to identifying a target business for a potential business combination.
The company entered into a Business Combination Agreement on January 28, 2025, with SharonAI Inc., a Delaware corporation focused on high-performance computing and artificial intelligence technology.
The business combination involves a series of transactions, including the re-domiciling of Roth CH Acquisition Co. from the Cayman Islands to Delaware and the merger of SharonAI into a subsidiary of Roth CH.
The aggregate merger consideration amounts to 560,835,633 shares of common stock to be issued at the closing of the business combination, subject to various conditions.
Roth CH Acquisition Co. continues to evaluate potential target businesses and is in the process of completing its initial business combination with SharonAI Inc.
The company acknowledges its dependence on additional financing to complete the business combination and meet future obligations.
Roth CH Acquisition Co. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Roth CH Acquisition Co. annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.