Filing Summary
Registrant and reporting date: The filing is a Form 8-K filed by ROC Energy Acquisition Corp., dated December 2, 2022. Although the request metadata identifies Drilling Tools International Corp., that company is not the registrant named in the filing.
Business Context and Reporting Period
ROC Energy Acquisition Corp. is a special purpose acquisition company (SPAC) seeking to complete its initial business combination. The filing reports an extension of the deadline for completing that transaction.
Key Financial and Liquidity Information
- The business-combination deadline was extended from December 6, 2022 to March 6, 2023.
- The sponsor, ROC Energy Holdings LLC, intended to deposit an aggregate of $2.07 million, or $0.10 per public share, into the company’s trust account on or before December 6, 2022.
- The filing does not provide revenue, profit, cash-flow, margin, debt, or other operating financial metrics.
Material Changes, Outlook, and Risks
- The extension is the first of two three-month extensions permitted under the company’s governing documents.
- The additional time is intended to allow the company to complete its initial business combination.
- Completion of a business combination is not assured. The filing does not identify a specific transaction, acquisition target, revised transaction terms, or additional contingencies.
- The sponsor’s stated trust-account deposit is an intended contribution; the filing text does not confirm its subsequent completion.
Important Facts to Verify
- Confirm that the $2.07 million sponsor deposit was made to the trust account by December 6, 2022.
- Review subsequent filings for whether the March 6, 2023 deadline was met or extended again.
- Verify whether ROC Energy Acquisition Corp. completed an initial business combination and identify the resulting operating company.
- Review the attached December 2, 2022 press release and the company’s governing documents for extension, redemption, and liquidation provisions.