ROC Energy Acquisition Corp. (NASDAQ:ROC) announced in an 8-K today that its shareholders have approved its combination with oilfield services company Drilling Tools International (“DTI”) during a special meeting held on June 1.
At the meeting, holders of 23,008,929 shares of common stock were present in person or by proxy, representing approximately 85.69% of the voting power of the 26,851,000 issued and outstanding shares of common stock entitled to vote.
The business combination was approved with 19,282,780 shares voting in favor of the deal, but saw a slight pushback from holders of 3,726,149 shares.
ROC Energy did not provide a timeline for the closing of the deal, but the SPAC also held an extension meeting that same day where shareholders approved a proposal to extend the completion deadline from June 6 to August 6, composed of two one-month extensions. As a result, the sponsor, ROC Energy Holdings, LLC, will deposit into the trust account for each of the two one-month extensions $0.04 for each share not redeemed in connection with the proposal.
The SPAC originally inked its $319 million business combination with DTI earlier this year in February. ROC Energy brought about $209 million into the deal through its trust and supplemented this with a $45 million PIPE. Houston, Texas-based DTI manufactures and provides a differentiated, rental-focused offering of tools used for horizontal and directional drilling.
The combined company is expected to trade on the Nasdaq under the symbol “DTI” once the deal is completed.
Pyrophyte Acquisition Corp. II (NYSE:PAII.U) announced the pricing of its $175 million IPO and its units are expected to begin trading on the NYSE under the symbol “PAII.U”, Thursday, July 17, 2025. The new SPAC plans to focus its search on companies within the energy sector that constitute critical links in the supply chain of the...
At the SPAC of Dawn Rare earth miner MP Materials (NYSE:MP) was one of the early winners of the 2020 SPAC boom, having picked up momentum following its 2020 deal with Fortress Value. But, the company’s news that it will become a major supplier of battery materials for Apple’s empire of electronic devices has sent...
Solarius Capital Acquisition Corp. (NASDAQ:SOCAU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SOCAU”, Wednesday, July 16, 2025. The new SPAC plans to combine with a target in the asset management, wealth management or financial services industries. Solarius Capital’s management team...
Exciting new things are coming for SPACInsider subscribers, and some have already arrived! This summer, SPACInsider is unveiling the SPACInsider Alerts App on iOS with an Android launch soon to follow. The app allows subscribers to stay ahead of the SPAC market with real-time, customizable filing alerts with instant notifications landing the moment that a...
At the SPAC of Dawn Futures are largely green with the CPI reading coming up, and several SPACs and de-SPACs have cause to feel bullish regardless of what the reading states. Pharma and beauty company Longevity Health (NASDAQ:XAGE) announced it will acquire plasma collection firm True Health ahead of market open in news that has...