BRIEF-Roth CH Acquisition I To Combine With Purecycle Technologies

Reuters
Nov 16, 2020

Nov 16 (Reuters) - Roth Ch Acquisition I Co :

* ROTH CH ACQUISITION I TO COMBINE WITH PURECYCLE TECHNOLOGIES, ACCELERATING A REVOLUTION IN PLASTICS RECYCLING THROUGH IMPACT INVESTING

* ROTH CH ACQUISITION I CO - ESTIMATED POST-TRANSACTION EQUITY VALUE OF APPROXIMATELY $1.2 BILLION AND GROSS CASH PROCEEDS OF APPROXIMATELY $700 MILLION

* ROTH CH ACQUISITION I CO - ENTERED INTO DEFINITIVE PURCHASE AGREEMENTS FOR A $250 MILLION COMMON STOCK PIPE TRANSACTION

* ROTH CH ACQUISITION I CO - PURECYCLE INTENDS TO BUILD NEW RECYCLING PRODUCTION FACILITIES GLOBALLY

* ROTH CH ACQUISITION I CO - PURECYCLE IS RETAINING ITS MANAGEMENT TEAM, INCLUDING CEO MIKE OTWORTH, CCO DAVID BRENNER, AND CFO MICHAEL DEE

* ROTH CH ACQUISITION I CO - FOLLOWING DEAL AND AFTER PAYMENT OF EXPENSES, PURECYCLE IS EXPECTED TO ADD ABOUT $667 MILLION TO ITS BALANCE SHEET

* ROTH CH ACQUISITION I CO - FOUNDING, SIGNIFICANT SHAREHOLDERS HAVE AGREED TO A CONTRACTUAL LOCK-UP OF 50% SHARES UNTIL IRONTON PLANT IS COMMISSIONED

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