Roth CH Acquisition II Co. (ROCC) Shareholders Approve Reservoir Holdings Deal
by Marlena Haddad on 2021-07-27 at 6:00pm

Roth CH Acquisition II Co.  (NASDAQ:ROCC) announced in an 8-K filing today that its shareholders approved its combination with independent media company Reservoir Holdings in a meeting held earlier this morning.

ROCC stockholders redeemed 10,295,452 shares in connection with the vote. A total of 10,716,883 shares of the company’s stock, representing approximately 73.15% of the issued and outstanding shares, were present at the meeting today.

Upon closing, the combined company is expected to remain listed on the Nasdaq Capital Market with its common stock and warrants trading under the new ticker symbols, “RSVR” and “RSVRW”, respectively.

The parties initially announced the $788 million deal on April 15. New York City-based Reservoir is a family-owned music publisher with about 130,000 copyrights, 26,000 master recordings and hundreds of #1 releases.

Reservoir is set to be the first standalone music publishing company to go public on a US exchange and is expected to take on the strategy of song management company Hipgnosis (LSE:SONG).

All other proposals related to the business combination were approved by shareholders. For a full list of proposals and vote tallies, click HERE.


ADVISORS

  • Goldman Sachs & Co. LLC is acting as financial advisor to Reservoir.
  • Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal advisor to Reservoir.
  • Loeb & Loeb LLP is acting as legal advisor to Roth CH II.
  • Roth Capital Partners, LLC and Craig-Hallum Capital Group LLC are acting as placement agents for the PIPE transaction.
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