PLMK received a Nasdaq notice stating it did not meet the continued-listing requirement of at least 400 total holders. Nasdaq described it as a deficiency notification, not an imminent-delisting notice, and said it has no immediate effect on the listing or trading of PLMK securities.
PLMK has 45 calendar days to submit a plan to regain compliance. The company is considering responses and says there can be no assurance it will regain compliance.
Plum Acquisition Corp. IV (PLMK) said director Aidin Aghamiri resigned from the board effective immediately on October 6, 2026. The company stated that his resignation was not the result of any disagreement with the company or board concerning its operations, policies or practices.
Plum Acquisition Corp. IV (PLMK) and Controlled Thermal Resources Holdings Inc. announced that, in connection with their proposed business combination, CTR had entered into a series of agreements with certain strategic investors. The agreements are expected to materially strengthen CTR’s capital structure.
The parties intend to file a Form S-4 registration statement that will include preliminary proxy and prospectus materials. After the registration statement becomes effective, definitive materials are to be mailed to Plum IV shareholders as of a record date to be established for the vote on the proposed transactions.
Plum Acquisition Corp. IV (PLMK) and Controlled Thermal Resources Holdings Inc. (CTR) announced agreements with strategic investors related to their proposed business combination. CTR expects approximately $245 million of convertible notes at closing; approximately $205 million is expected to convert to equity and approximately $40 million to convert into the planned PIPE. At closing, CTR expects to retire the majority of its outstanding convertible debt. The business combination is expected to close in the fourth quarter of 2026, subject to shareholder approval, regulatory approvals and other customary closing conditions.
CTR plans a 50 MW Stage 1 Power geothermal facility, with commercial operation expected in 2028, followed by Stage 1 Lithium, which has planned annual battery-grade capacity of 25,000 metric tons and targeted commercial operation in 2030. CTR plans approximately 650 MW of geothermal generation overall and says it has invested approximately $310 million in development to date. The combined company is expected to operate as Controlled Thermal Resources and list on Nasdaq under the ticker CTRH.
Plum Acquisition Corp, IV (PLMK) director Avanish Sahai reported a conversion of founder shares. On 2026-07-09, 25,000 Class B ordinary shares held indirectly through the Karnavy Sahai Trust were automatically converted, at the holder’s election, into 25,000 Class A ordinary shares. The Class B shares have no expiration date and convert into Class A shares at a ratio of no less than one-to-one following the initial business combination or earlier at the holder’s option.
Plum Acquisition Corp, IV (PLMK) director Anjai Gandhi reported the conversion of 25,000 Class B ordinary shares into 25,000 Class A ordinary shares on 2026-07-09. The Class B shares, which have no expiration date, automatically convert into Class A shares at no less than a one-to-one ratio, and these shares are held indirectly through the Anjai M. Gandhi 2014 Revocable Trust, for which Gandhi serves as trustee. Following the conversion, the trust holds 25,000 Class A ordinary shares indirectly.
Plum Acquisition Corp, IV (PLMK) director Allan Chou reported a conversion of founder equity. On 2026-07-09, 25,000 Class B ordinary shares were converted into 25,000 Class A ordinary shares at a stated price of $0.0000 per share. The Class B shares automatically convert into Class A shares after the company’s initial business combination or earlier at the holder’s option, and have no expiration date. These reported Class B shares converted into Class A shares pursuant to an election by the reporting person, leaving him with direct ownership of 25,000 Class A shares.
Plum Acquisition Corp. IV (PLMK), a special purpose acquisition company, furnished an updated investor presentation related to its previously announced Business Combination Agreement with Controlled Thermal Resources Holdings Inc. The presentation, dated August 19, 2026, is provided under Regulation FD and replaces an earlier March 9, 2026 investor deck.
The company plans to file a Registration Statement on Form S-4 that will include a proxy statement/prospectus for Plum IV shareholders to vote on the proposed business combination and related matters. The disclosure emphasizes that this report is not an offer or solicitation and contains forward-looking statements subject to extensive risks, directing investors to carefully review future proxy/prospectus materials and existing risk factor disclosures.
Plum Acquisition Corp. IV (PLMK) furnished an updated investor presentation about its previously announced proposed business combination with Controlled Thermal Resources Holdings Inc. The materials outline CTR’s Hell’s Kitchen geothermal and critical minerals project in California’s Salton Sea region and the contemplated post‑merger profile.
CTR describes a staged “power‑first” plan targeting 50 MW of Stage 1 baseload geothermal power with remaining capital expenditure of about $475 million and targeted final investment decision in Q2 2027, followed by commercial operation in Q4 2028. A co‑located Stage 1 lithium facility is described at 25,000 TPA capacity with about $1.5 billion of capital, a targeted FID in Q1 2028, and targeted commercial operation in Q4 2030.
At full multi‑stage build‑out, the project is presented as having potential for roughly 650 MW of baseload power and about 100,000 TPA lithium, plus longer‑term upside from potash and other critical minerals. The presentation also includes an illustrative pro forma enterprise value of about $3.34 billion for the combined company and a multi‑step financing plan, all subject to completion of definitive agreements, shareholder and regulatory approvals, financing, and other customary closing conditions. The information is furnished under Regulation FD and characterized as forward‑looking.
Plum Acquisition Corp. IV is a SPAC that has not yet begun operating activities and is focused on completing a business combination. As of June 30, 2026, it held $184.4 million in a Trust Account and reported total assets of $184.8 million.
For the six months ended June 30, 2026, Plum IV recorded net income of $1.8 million, driven by $3.1 million of interest on Trust investments, partially offset by $1.4 million of general and administrative expenses. A working capital deficit of $1.4 million and a deadline to complete a deal by January 16, 2027 led management to state substantial doubt about its ability to continue as a going concern.
The company entered into a Business Combination Agreement with Controlled Thermal Resources Holdings Inc. and later amended it, reducing the implied valuation from $4.5 billion to $3.15 billion and cutting potential earnout shares from 100 million to 70 million, while extending the outside closing date to April 30, 2027. In July 2026, shareholders approved an extension of the combination deadline and redeemed 13,540,384 public shares for about $145 million, leaving approximately $39.7 million in the Trust Account and significantly reducing the public float.