The Latest Non-Redemption Agreements: July 28, 2023

Latest Non-Redemption Agreements: Roth CH V

Roth CH Acquisition V Co. (ROCL) Amends Non-Redemption Agreement

As previously reported, on May 3 and 4, Roth CH Acquisition V Co., (NASDAQ:ROCL), entered into non-redemption agreements with certain stockholders owning, in the aggregate, 2,000,000 shares of common stock, pursuant to which such stockholders agreed not to redeem or exercise any right to redeem such public shares in connection with the vote to extend the company’s completion deadline. Pursuant to the Non-Redemption Agreements, certain initial stockholders agreed to pay the stockholders that entered into such agreements $0.04 per share for each one-month extension in connection with such agreements.

On July 20, the company entered into amendments to the Non-Redemption Agreements to provide that the company or certain initial stockholders shall pay such stockholders that entered into the agreements $0.04 per share for each one-month extension in connection with such agreements.

On July 26, the company issued an unsecured promissory note in the aggregate principal amount of up to $750,000 to individuals or entities listed on the note. Pursuant to the note, the payees agreed to loan to the company an aggregate amount of up to $750,000 that shall be payable on the earlier of the date on which the company consummates an initial business combination or the date the company liquidates. The note bears no interest rate. In the event that the company does not complete a deal, the note will be repaid only from amounts remaining outside of the trust account, if any.