PLMK · Plum Acquisition Corp. IV

Summary

Plum Acquisition Corp. IV entered into a Business Combination Agreement dated March 8, 2026, with Plum IV Merger Sub, Inc. and Controlled Thermal Resources Holdings Inc., providing for a merger where Merger Sub merges into the Company, with the Company surviving as a subsidiary of Domesticated Plum IV following domestication from Cayman Islands to Delaware. The transaction includes earnout shares, PIPE investment, bridge note, and related support agreements.

Key takeaways

• Business Combination Agreement signed March 8, 2026, by Plum IV, Merger Sub, and Controlled Thermal Resources Holdings Inc.
• Plum IV to domesticate as Delaware corporation prior to closing.
• Merger Sub merges into Company; Company survives as Plum IV subsidiary.
• Company stockholders eligible for up to 100,000,000 earnout shares over 10 years based on VWAP thresholds from $12.50 to $30.00.
• Sponsor to fund at least $15M PIPE; $10M bridge note required.
• Post-closing board: 4 Company designees (2 independent), 1 Plum IV designee; listing on Nasdaq or NYSE.
• Available Closing Cash minimum $100M; outside date December 31, 2026.