Cases & Deals

PureCycle Technologies combines with Roth CH Acquisition I Co.

Client(s) PureCycle Technologies LLC

Jones Day advised PureCycle Technologies LLC ("PureCycle") in its business combination with Roth CH Acquisition I Co. ("Roth SPAC"), a publicly-traded special purpose acquisition corporation backed by Roth Capital Partners and Craig-Hallum Capital Group, and Roth CH Acquisition I Co. Parent Corp., a wholly owned subsidiary of Roth CH ("Holdings"), among others. Through a series of mergers, Roth SPAC and PureCycle became wholly-owned subsidiaries of Holdings, which will be listed on the Nasdaq Capital Market under a new ticker symbol "PCT". PureCycle equityholders will be entitled to receive shares of Common Stock in Holdings valued at approximately $835 million. In connection with the merger agreement, Roth SPAC also entered into subscription agreements for a $250 million Common Stock PIPE transaction. The business combination transaction results in PureCycle being a public company with an estimated post-transaction equity value of approximately $1.2 billion.