ROC Energy Acquisition Corp. Announces Extension of Deadline to Complete Business Combination
ROC Energy Acquisition Corp. (NASDAQ: ROC) announced an extension for its business combination deadline from December 6, 2022, to March 6, 2023, following a request from its sponsor, ROC Energy Holdings. To facilitate this Extension, the Sponsor will deposit $2,070,000 into the Company’s trust account by December 6, 2022, covering $0.10 per public share. This extension allows additional time to finalize an initial business combination, which is focused on the non-operated, upstream oil and gas sector in the U.S.
- Extension of deadline allows more time for strategic business combination.
- Sponsor's commitment to deposit $2,070,000 strengthens financial position.
- Delay in business combination may create uncertainty among investors.
- Dependence on external funding can pose financial strain.
DALLAS, Dec. 2, 2022 /PRNewswire/ -- ROC Energy Acquisition Corp. (NASDAQ: ROC) (the "Company") announced today that its sponsor, ROC Energy Holdings, LLC (the "Sponsor"), has requested that the Company extend the date by which the Company has to consummate a business combination from December 6, 2022 to March 6, 2023 (the "Extension"). The Extension is the first of two three-month extensions permitted under the Company's governing documents. In connection with the Extension, the Sponsor has notified the Company that it intends to deposit an aggregate of
About ROC Energy Acquisition Corp.
The Company is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an acquisition in any business industry or sector, it intends to concentrate its efforts on the non-operated, upstream oil and gas sector in the U.S. The Company is led by Chief Executive Officer Daniel Jeffrey Kimes and Chief Financial Officer Rosemarie Cicalese.
Forward-Looking Statements
This press release may include, and oral statements made from time to time by representatives of the Company may include, "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company's filings with the Securities and Exchange Commission ("SEC"). All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus for the Company's initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
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SOURCE ROC Energy Acquisition Corp.
FAQ
What is the new deadline for ROC Energy Acquisition Corp.'s business combination?
How much is ROC Energy's sponsor depositing for the extension?
What sector is ROC Energy Acquisition Corp. focusing on for its business combination?
Is this ROC Energy's first extension for the business combination deadline?
What impact does the extension have on ROC Energy's stock?
