MergerJul 10, 2026, 05:07 PM
Plum IV cuts merger valuation to $3.15B, extends closing
AI Summary
Plum Acquisition Corp. IV and Controlled Thermal Resources Holdings Inc. entered into a second amendment to their Business Combination Agreement. This amendment significantly reduces the merger consideration valuation from $4.5 billion to $3.15 billion and decreases the aggregate potential earnout shares from 100 million to 70 million. Additionally, the closing date for the transaction has been extended to April 30, 2027, and the antitrust filing deadline moved to September 30, 2026.
Key Highlights
- Merger consideration valuation reduced from $4.5 billion to $3.15 billion.
- Aggregate potential earnout shares reduced from 100 million to 70 million.
- Each earnout tranche reduced proportionally from 12.5 million to 8.75 million shares.
- Closing date for the business combination extended from December 31, 2026, to April 30, 2027.
- Antitrust filing deadline extended from July 31, 2026, to September 30, 2026.
- Maximum shares for founder reimbursement or non-redemption increased from 2 million to 3 million.
Price Impact
More from PLMK