Controlled Thermal Resources and Plum Acquisition announce strengthened capital structure
PLMK•Controlled Thermal Resources and Plum Acquisition Corp. IV said $205 million of convertible debt will convert to equity and $40 million will go to a PIPE at the business-combination close, expected in the fourth quarter of 2026.
1. Capital structure plans
The companies said the transactions are intended to advance Controlled Thermal Resources’ Hell’s Kitchen geothermal power and critical minerals project. The combined company is expected to list on Nasdaq as CTRH.
