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Drilling Tools International Holdings, Inc. (DTI) and ROC Energy Acquisition Corp. (ROC) will host a Virtual Analyst & Investor Day on April 18, 2023, at 10:00 AM EDT. The event, lasting two hours, will feature presentations by executives from both companies detailing DTI's operations and its proposed business combination with ROC. Interested participants must register to attend. Following the presentations, a live Q&A session will be held. DTI aims to become publicly listed on the Nasdaq under the symbol DTI after the merger, which is set to close in Q2 2023, pending regulatory approvals.
ROC Energy Acquisition Corp. announced a $2,070,000 deposit into its trust account, allowing an extension of the deadline for its initial business combination from March 6, 2023 to June 6, 2023. This is the second of two three-month extensions allowed. The funds were loaned by an affiliate of ROC Energy Holdings LLC and are non-interest bearing, convertible into units similar to those from its recent private placement. The Company focuses on the traditional energy sector in the U.S. and is led by CEO Daniel Jeffrey Kimes and CFO Rosemarie Cicalese.
Drilling Tools International has announced its exclusive partnership with CT Energy Services as the US distributor for the RotoSteer™, an innovative drilling tool designed for enhanced efficiency in oil and gas drilling. This collaboration aims to successfully launch the RotoSteer™ across the US, Canada, and internationally. The RotoSteer™, rebranded from Hydroclutch, provides continuous rotation while controlling the bottom hole assembly. Drilling Tools’ CEO highlighted the tool's reliability and cost-effectiveness, stating it will offer solutions for extended reach wells. This partnership follows DTI's announcement of a business combination with ROC Energy Acquisition Corp., expected to close in Q2 2023.
ROC Energy Acquisition Corp. (NASDAQ: ROCAU) announced that starting December 29, 2021, shareholders can trade shares of common stock and rights separately from units sold in its initial public offering. The common stock will trade under the symbol 'ROC' and rights under 'ROCAR,' while units will continue trading as 'ROCAU.' The company, which is focused on pursuing business combinations in the U.S. oil and gas sector, clarified that this press release does not constitute an offer to buy or sell securities in jurisdictions where such transactions would be unlawful.
ROC Energy Acquisition Corp. announced the closing of an additional issuance of 2,700,000 units from its IPO, raising $27 million. This increases total gross proceeds to $207 million. The units, beginning trading on Nasdaq under ticker ROCAU, contain one share of common stock and a right to one-tenth share upon business combination. The proceeds will be placed in a trust account, totaling $209.07 million, and an audited balance sheet will be filed with the SEC. The company aims for acquisition in the upstream oil and gas sector.
ROC Energy Acquisition Corp. announced the successful closing of its upsized initial public offering (IPO) of 18 million units, raising $180 million. The units, which began trading on Nasdaq under the ticker symbol ‘ROCAU’ on December 2, 2021, consist of one common stock share and a right to receive one-tenth of a share upon business combination. $181.8 million was deposited in the trust account. The offering, managed by EarlyBirdCapital, Inc., allows underwriters a 45-day option to purchase an additional 2.7 million units. The company is focused on acquiring businesses in the U.S. oil and gas sector.
ROC Energy Acquisition Corp. has announced the pricing of its upsized initial public offering (IPO) of 18,000,000 units at $10.00 each. Trading on the Nasdaq under the symbol 'ROCAU' begins on December 2, 2021, with units comprising one share of common stock and a right to receive one-tenth of a share upon a future business combination. The IPO is expected to close on December 6, 2021, subject to customary conditions. The firm seeks to focus on the non-operated, upstream oil and gas sector in the U.S.
