ROC Energy Acquisition Corp. Announces Full Exercise of Underwriters' Over-Allotment Option in Connection with its Initial Public Offering

Rhea-AI Summary

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.

Positive

• Successfully raised $27 million through additional unit issuance.
• Total proceeds of $207 million enhance capital for future acquisitions.
• Units commenced trading on Nasdaq, increasing market visibility.

Negative

• None.

New York, NY, Dec. 09, 2021 (GLOBE NEWSWIRE) -- ROC Energy Acquisition Corp. (the “Company”) announced today the closing of the issuance of an additional 2,700,000 units pursuant to the full exercise of the underwriters’ option to purchase additional units in connection with the initial public offering at a price of $10.00 per unit, resulting in gross proceeds of $27 million and bringing the total gross proceeds of the initial public offering to $207,000,000. The Company’s units commenced trading on the Nasdaq Global Market (“Nasdaq”), on December 2, 2021, under the ticker symbol “ROCAU.” Each unit consists of one share of the Company’s common stock and one right to receive one-tenth (1/10) of a share of common stock upon the consummation of an initial business combination. Once the securities comprising the units begin separate trading, the shares of common stock and rights are expected to be listed on Nasdaq under the symbols “ROC” and “ROCAR,” respectively.

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.

EarlyBirdCapital, Inc. acted as sole book-running manager of the offering.

Of the proceeds received from the consummation of the offering (as well as the exercise of the option to purchase additional units) and a simultaneous private placement of units, $209.07 million (or $10.10 per unit sold in the offering) was placed in the Company’s trust account. An audited balance sheet of the Company as of December 6, 2021 reflecting receipt of the proceeds upon consummation of the offering and the private placement (but not including the closing of the additional units described herein) will be included as an exhibit to a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission (the “SEC”).

The offering was made only by means of a prospectus. Copies of the preliminary prospectus relating to the offering and final prospectus may be obtained from EarlyBirdCapital, Inc., 366 Madison Avenue, 8th Floor, New York, New York 10017.  

The registration statements relating to these securities have been filed with, and were declared effective by, the SEC on December 1, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and the search for an initial business combination. 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 final prospectus for the offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact

Daniel Jeffrey Kimes
Chief Executive Officer
ROC Energy Acquisition Corp.
(972) 392-6180

FAQ

What is ROC Energy Acquisition Corp.'s IPO announcement dated December 9, 2021?

On December 9, 2021, ROC Energy Acquisition Corp. announced the closing of an additional issuance of 2,700,000 units, raising a total of $27 million.

What is the total gross proceeds from ROC Energy Acquisition Corp.'s IPO?

The total gross proceeds from ROC Energy Acquisition Corp.'s IPO have reached $207 million.

When did ROC Energy Acquisition Corp.'s units start trading on Nasdaq?

ROC Energy Acquisition Corp.'s units began trading on Nasdaq on December 2, 2021, under the ticker symbol ROCAU.

What is included in each unit issued by ROC Energy Acquisition Corp.?

Each unit consists of one share of common stock and one right to receive one-tenth (1/10) of a share of common stock upon a business combination.

What sector does ROC Energy Acquisition Corp. intend to focus on for acquisitions?

ROC Energy Acquisition Corp. intends to concentrate its acquisition efforts in the non-operated, upstream oil and gas sector in the U.S.