Item 1.01. Entry into a Material Definitive Agreement.
Item 2.01 of this Current Report on Form 8-K discusses the consummation of the Business Combination and various other transactions and events contemplated by the Merger Agreement which took place on the Closing Date and is incorporated herein by reference.
RMM Credit Agreement
In connection with the consummation of the Business Combination,
The Senior Credit Facility has a scheduled maturity date of
Borrowings under the RMM Credit Agreement bear interest at a rate equal to either the sum of a base rate plus a margin of 1.25% or the sum of a LIBO rate plus a margin of 2.25%. RMM is also required to pay an unused fee in respect of unused commitments under the RMM Credit Facility, if any, at a rate of 0.25% per annum.
Each of RMI,
The RMM Credit Agreement contains customary covenants limiting the ability of
RMI,
Item 2.01. Completion of Acquisition or Disposition of Assets.
On
Immediately prior to the effective time of the Business Combination (the
"Effective Time"), each share of Series A preferred stock, par value
At the Effective Time (and, for the avoidance of doubt, following the Reservoir Holdings Preferred Stock Conversion):
· each share of the Reservoir Holdings Common Stock (including the Reservoir
Holdings Common Stock resulting from the Reservoir Holdings Preferred Stock Conversion) that was issued and outstanding immediately prior to the Effective Time (other than any shares held in treasury immediately prior to the consummation of the Business Combination) was canceled and converted into the right to receive 196.06562028646 shares of common stock, par value$0.0001 per share, of RMI (the "RMI Common Stock");
· each share of the Reservoir Holdings Common Stock held in the treasury of
Reservoir Holdings immediately prior to the Effective Time, if any, was cancelled without any conversion thereof and no payment or distribution was made with respect thereto;
· each share of common stock of Merger Sub, par value
and outstanding immediately prior to the Effective Time was converted into and exchanged for one validly issued, fully paid and non-assessable share of the Reservoir Holdings Common Stock; and 2
· each option to acquire a share of the Reservoir Holdings Common Stock pursuant
to the
Holdings Option") that was outstanding immediately prior to the Effective Time . . .
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
The information set forth in Item 1.01 of this Current Report on Form 8-K with respect to the RMM Credit Agreement is incorporated herein by reference.
Item 3.02. Unregistered Sales of
The disclosure set forth in Item 2.01 of this Current Report on Form 8-K with respect to the issuance of the RMI Common Stock in connection with the consummation of the Business Combination is incorporated herein by reference. The RMI Common Stock issued in connection with the consummation of the Business Combination was issued in reliance on Section 4(a)(2) of the Securities Act and/or Rule 506 of Regulation D promulgated under the Securities Act in transactions not requiring registration under Section 5 of the Securities Act.
Item 3.03. Material Modification to Rights of Security Holders
On
The RMI Common Stock and RMI's warrants are expected to commence trading on the
Item 5.01. Changes in Control of Registrant.
The information set forth in the Introductory Note to this Current Report on Form 8-K and Item 1.01 and Item 2.01 of this Current Report on Form 8-K is incorporated herein by reference.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective upon the consummation of the Business Combination, all of the
directors and executive officers of ROCC resigned. RMI's directors and executive
officers following the consummation of the Business Combination are set forth in
the Proxy Statement in the section titled "Management of the Combined
Company-Overview of Executive Officers and Directors" beginning on page 174
thereof, which description is incorporated herein by reference. In addition, the
board of directors of RMI appointed Ms.
11
The stockholders of ROCC approved the Equity Incentive Plan at the Special Meeting, and the Company adopted the Equity Incentive Plan in connection with the consummation of the Business Combination. The description of the Equity Incentive Plan is set forth in the Proxy Statement in the section titled "Proposal 5-The Incentive Plan Proposal" beginning on page 112 thereof, which description is incorporated herein by reference.
In addition, the information set forth in Item 1.01 and Item 2.01 of this Current Report on Form 8-K is incorporated herein by reference.
Item 5.06 Change in Shell Company Status
As a result of the consummation of the Business Combination, the Company ceased to be a shell company following the consummation of the Business Combination. Certain terms and conditions of the Merger Agreement and the transactions contemplated by the Merger Agreement are described in the Proxy Statement in the section titled "Proposal 1-The Business Combination Proposal" beginning on page 75 thereof, which description is incorporated herein by reference.
Item 9.01. Financial Statement and Exhibits.
(a) Financial statements of businesses acquired.
The audited consolidated financial statements of
(b) Pro forma financial information.
The unaudited pro forma condensed combined financial information of the Company
as of
12 (d) Exhibits. Exhibit No. Description Agreement and Plan of Merger, dated as ofApril 14, 2021 , by and amongRoth CH Acquisition II Co. ,Roth CH II Merger Sub Corp. 2.1 andReservoir Holdings, Inc. (incorporated by reference to Exhibit 2.1 toRoth CH Acquisition II Co.'s Current Report on Form 8-K filed with theSEC onApril 15, 2021 ).* 3.1 Second Amended and Restated Certificate of Incorporation ofReservoir Media, Inc. 3.2 Amended and Restated Bylaws ofReservoir Media, Inc. Specimen Common Stock Certificate (incorporated by reference to 4.1 Exhibit 4.2 to the Amendment No. 1 toRoth CH Acquisition II Co.'s Registration Statement on Form S-1 filed with theSEC onDecember 7, 2020 ). Specimen Warrant Certificate (incorporated by reference to 4.2 Exhibit 4.3 to the Amendment No. 1 toRoth CH Acquisition II Co.'s Registration Statement on Form S-1 filed with theSEC onDecember 7, 2020 ). Warrant Agreement, dated as ofDecember 10, 2020 , by and betweenContinental Stock Transfer & Trust Company and Roth CH 4.3Acquisition II Co. (incorporated by reference to Exhibit 4.1 toRoth CH Acquisition II Co.'s Current Report on Form 8-K filed with theSEC onDecember 16, 2020 ). Stockholders Agreement, dated as ofApril 14, 2021 , by and amongRoth CH Acquisition II Co. ,Reservoir Holdings, Inc. and 4.4CHLM Sponsor-1 LLC (incorporated by reference to Exhibit 10.5 toRoth CH Acquisition II Co.'s Current Report on Form 8-K filed with theSEC onApril 15, 2021 ). Lockup Agreement, dated as ofApril 14, 2021 , by and amongRoth CH Acquisition II Co. andReservoir Holdings, Inc.'s executive 4.5 officers and securityholders (incorporated by reference to Exhibit 10.2 toRoth CH Acquisition II Co.'s Current Report on Form 8-K filed with theSEC onApril 15, 2021 ). Letter Agreements, datedDecember 10, 2020 , by and amongRoth CH Acquisition II Co. ,Roth Capital Partners, LLC , Craig-Hallum 10.1Capital Group LLC andRoth CH Acquisition II Co.'s executive officers, directors and securityholders (incorporated by reference to Exhibit 10.1 toRoth CH Acquisition II Co.'s Current Report on Form 8-K filed with theSEC onDecember 16, 2020 ). Stock Escrow Agreement, dated as ofDecember 10, 2020 , by and amongRoth CH Acquisition II Co. ,Continental Stock Transfer & 10.2Trust Company , as escrow agent, and the initial securityholders ofRoth CH Acquisition II Co. (incorporated by reference to Exhibit 10.3 toRoth CH Acquisition II Co.'s Current Report on Form 8-K filed with theSEC onDecember 16, 2020 ). Amended and Restated Registration Rights Agreement, dated as ofApril 14, 2021 , by and amongRoth CH Acquisition II Co. ,Roth CH Acquisition II Co.'s executive officers, directors and 10.3 securityholders andReservoir Holdings, Inc.'s securityholders (incorporated by reference to Exhibit 10.6 toRoth CH Acquisition II Co.'s Current Report on Form 8-K filed with theSEC onApril 15, 2021 ). Form of Subscription Agreement, dated as ofApril 14, 2021 , entered into byRoth CH Acquisition II Co. in connection with the 10.4PIPE Investment (incorporated by reference to Exhibit 10.3 toRoth CH Acquisition II Co.'s Current Report on Form 8-K filed with theSEC onApril 15, 2021 ). Form of Registration Rights Agreement, dated as ofApril 14, 2021 , entered into byRoth CH Acquisition II Co. in connection 10.5 with thePIPE Investment (incorporated by reference to Exhibit 10.4 toRoth CH Acquisition II Co.'s Current Report on Form 8-K filed with theSEC onApril 15, 2021 ). Fourth Amended and Restated Credit Agreement, dated as of 10.6July 28, 2021 , by and amongReservoir Media Management, Inc. ,Reservoir Media, Inc. , the lenders party thereto from time to time andTruist Bank , as administrative agent.* 10.7Reservoir Holdings, Inc. 2021 Omnibus Incentive Plan. Letter of Employment, datedApril 1, 2021 , by and betweenReservoir Media Management, Inc. andGolnar Khosrowshahi 10.8 (incorporated by reference to Exhibit 10.13 toRoth CH Acquisition II Co.'s Registration Statement on Form S-1 filed with theSEC onJuly 1, 2021 ). Amended and Restated Letter of Employment, datedApril 1, 2021 , by and betweenReservoir Media Management, Inc. andRell Lafargue 10.9 (incorporated by reference to Exhibit 10.14 toRoth CH Acquisition II Co.'s Registration Statement on Form S-1 filed with theSEC onJuly 1, 2021 ). Amended Letter of Employment, datedApril 1, 2021 , by and betweenReservoir Media Management, Inc. andJim Heindlmeyer 10.10 (incorporated by reference to Exhibit 10.15 toRoth CH Acquisition II Co.'s Registration Statement on Form S-1 filed with theSEC onJuly 1, 2021 ). 21.1 Subsidiaries ofReservoir Media, Inc. Unaudited pro forma condensed combined financial information of 99.1 the Company as ofMarch 31, 2021 and for the three months endedMarch 31, 2021 and the year endedDecember 31, 2020 .
* Certain of the exhibits and schedules to this Exhibit 2.1 have been omitted in
accordance with Item 601(a)(5) of Regulation S-K.
to furnish copies of any of the omitted exhibits and schedules to the
its request. 13
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